Onboarding Process
Customer Engagement
Customers can engage through self-service (in product) or sales-led channels.
Self-service: SoftCos advertise payment features directly within their product, allowing customers to sign up independently. Learn more about In Product Onboarding
Sales-led: A dedicated SoftCo sales team proactively engages potential customers to guide them through the onboarding process.
Present Fees
SoftCos must clearly present all payment fees to customers before onboarding.
Transaction processing fees: Costs for processing individual payments, including percentage-based or fixed charges per transaction.
Service fees: Platform fees such as monthly charges, setup costs, and feature-specific pricing.
Statement of Work
Customers must sign an agreement accepting the PaySuite statement of work before onboarding.
PaySuite terms of service: The legal agreement covering service terms, conditions, and contractual obligations for using the payments platform.
Stripe Services Agreement: The legal agreement covering acceptance of payment processing services provided by Stripe.
Customer Onboarding
Customer onboarding begins when the customer is presented with Credit Risk Assessment collection form.
Credit Risk Assessment
External evaluation of the customer's financial stability and creditworthiness to determine eligibility and risk profile.
Data collection requirements vary by business profile. Below is an example flow:
Know Your Customers
Know Your Customer verification conducted through Stripe to validate business identity and ensure regulatory compliance.
Data collection varies based on risk assessment and enabled features. Below is an example flow:
Activate Payments
Once approved, customers gain access to payment processing capabilities and can begin accepting payments from their end users.