Scope These are a set of guidelines that uses to onboard new Merchants and establish his / her identity, legitimacy and risk profiling before allowing them to process payments on to company’s platform. Onboarding process involves conduct of Know Your Customer (KYC), Know Your Business (KYB) checks, background and financial risk assessments and ongoing monitoring to prevent fraud, ensure regulatory compliance and protect integrity of the organization. Purpose of a Merchant Onboarding Policy ✓Fraud Prevention To identify and block fraudulent merchants from accessing the payment system. ✓Regulatory Compliance To meet legal and regulatory requirements, such as those related to Anti Money Laundering (AML) and Know Your Customer (KYC) directives. ✓Risk Mitigation To assess and manage financial and operational risks associated with new merchants. ✓Building Trust To ensure that only legitimate and trustworthy businesses are part of the payment ecosystem. Components of the Onboarding Process ✓Identity & Business Verification (KYC / KYB) Verifying the identity of the business owner and the legitimacy of the business itself through documents like PAN, GST certificates, and business registration. ✓Document Collection Gathering appropriate documents such as business / trade details, proof of address, bank account information, and contact information. ✓Background Checks Conducting due diligence to check for any red flags, such as a history of fraud or non-compliance. ✓Financial Assessment Evaluating the merchant's financial stability and capacity to handle transactions securely. ✓Risk Assessment Determining the overall risk posed by the merchant and the industry they operate in. ✓Platform Setup Once approved, configuring the merchant's account to accept payments through the payment gateway or PSP. ✓Onboarding Stages 1. Application Merchant applies over NGMBs Payment Gateway website with providing initial business and personal details. NGMB collects information along with relevant documents of Merchant as required to conduct necessary onboarding checks to its satisfaction and to ensure that the same satisfies norm in compliance with the Applicable Laws. If necessary, NGMB shall seek additional information, undertaking(s), reports or declaration(s) from the Merchant. Merchant identification and onboarding is based on the Merchant types, including basic assessment, evaluation and wherever possible- validation of the information collected from the Merchant. This exercise covers, but is not limited to the below: o Onboarding checks based on the information collected from Merchants, identification of beneficial owner(s), sanctions and Politically Exposed Person screening, and other appropriate checks, if any. o Due diligence. o Confirmation from the Merchant, that it is not engaged in and shall not use NGMBs PG services for prohibited products and services notified by various regulatory agencies from time to time. o Confirmation from the Merchant that its website (wherever applicable) clearly indicates the terms and conditions of the service and timeline for processing returns and refunds. o NGMB may also provide such information to a Payment Participant, and any regulator or law enforcement authority as required under Applicable Law in case of needed during any investigation. 2. Document Submission & Authentication - The merchant submits required documents for verification in digi format, viz. PAN, Aadhaar, GST, Business/Trade License, etc., - NGMB has its APIs integrated with various regulatory authorities to establish authenticity of the documents submitted by prospective merchants. 3. Verification & Checks NGMBs backend team performs other aspects of checks, this includes background, financial checks. 4. Approval & Setup Upon satisfactory submission of set of documents, scrutiny as per the laid checks, the merchant is provisioned with the tools to process payments. KYC Documentation & Information KYC documents or equivalent e-documents and information listed below basis Merchant types shall be collected by NGMB at the time of onboarding Merchants, as applicable. NGMB with Merchants’ consent may seek additional information and documents, as the case may be, to satisfy the onboarding checks as per the Applicable Laws. ✓KYC Documents • Constitution/ Incorporation/ Registration certificate • PAN • GST Registration Certificate • All the legal documents in case of in case of entity/ firm with CIN, etc., • Documents related to identification/ address in case of Individuals (relevant associated individuals in case of legal entities like Proprietor, Beneficial Owner, Authorised Signatory, Director, as applicable based on the merchant type). • Optional supporting documents like financial statements etc. if required. ✓Merchant Information • Name • Address • Business Entity/ Registration type • Line of business/ Merchant Category Code (MCC) • Settlement Bank Account Number • Annual turnover • Names of relevant associated individuals in case of legal entities (like Proprietor, Partner, Beneficial Owner, Authorised Signatory, Director etc.) as applicable based on the merchant type • Other business information like website, email, phone number, etc. as required The extent of applicability shall depend on the type of online Merchants. In case of an individual Merchant or associated individual (like beneficial owner) of a legal entity Merchant, who is a PEP or close associates of PEPs, Google will seek additional information, such as information about source of funds/ wealth, identity, etc. as required and applicable, prior to taking a decision to on-board such online Merchant. ✓Review & Updation This policy shall be in vogue until reviewed / updated as and when needed.