Document Processing Times
Pay. uses a risk-based approach to identify the business and the individuals involved.
To connect a business to PAY., all requested documents must be submitted correctly. These documents are checked by various teams and via automated APIs, which means there's a processing time per document.
For a relatively simple organizational structure and a low-risk offering, most businesses can be activated within a few hours after submitting the documents. If the information is incorrect, expired, incomplete, or unclear, this significantly delays the process. In that case, you'll need to resubmit the requested information, and additional questions may follow. In some cases, PAY. may decide not to offer its services based on the information provided.
Submitting all requested documents usually takes about 15 minutes.
Average processing time
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Within 1 business day: simple business
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Within 3 business days: more complex organizational structure
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Within 14 days: elevated risk offering
Requested documents and processing times
| Requested documents | Processing time |
|---|---|
| SEPA Clearing form | 24 hours (1 working day) |
| Copy of proof of identity | 24 hours (1 working day) |
| Proof of address | 24 hours (1 working day) |
| Agreement | 24 hours (1 working day) |
| Chamber of Commerce extract | 24 hours (1 working day) |
| UBO form | 24 hours (1 working day) |
| Proof of business address | 24 hours (1 working day) |
| Addendum | 72 hours (3 working days) |