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Paystack Requirements for Vendor Account Creation

Paystack Requirements for Vendor Account Creation
  1. For Vendors who want to receive the sales from their shops directly into their Mobile Money Account or Bank Account, this is possible through the Payment Gateway Provider, Paystack.com
  2. The first requirement is the provision of an acceptable Picture ID for uploading to Paystack. Any  of these 3 ID's are acceptable.
    1. National ID
    2. Drivers License
    3. Voters ID
  3. PAYSTACK, however has some Compliance Requirements that must be fulfilled by each Vendor in order for the Vendor to receive Payments directly.

    1. When filling the Compliance tab, one of the documents you will be asked to provide is a Proof of Address. The Proof of Address could be for your business, the directors of your business or the beneficial owners of your business.

      Here's a list of the documents that you can provide as a proof of address when requested:

      a. A utility bill. Examples of this include:

      • Electricity bill
      • Water bill
      • Waste bill
      • Cable TV bill such as DSTV bill.

      b. Bank statements (this can be redacted. We only need the part that shows the account name and the address of the individual or business).

      c. Tax assessment

      d. Letter from a public authority. Examples of this include:

      • Notice of tenement rate assessment
      • Court notices
      • Affidavits

      The above-listed documents must not be more than six months old.

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