Adhishwar Nivesh Private Limited: MERCHANT ONBOARDING POLICY

1.   Onboarding Process

Before On-boarding any merchant few things should be taken into consideration like what kind of business merchant is doing, his LOB, product and services etc. There are certain product or services which are not doable as per Bank and there are few which comes under company internal Risk Policy on the basis of their statistical data. Before approving or disapproving any website one should do proper due diligence against the merchant like his Goodwill, past history, reviews, feedbacks, any complaints etc. If all things are fine then we will follow certain steps which are mentioned below:

If any merchant wants a payment gateway there can be couple of possibilities like

• Client approaches us for payment facility on their website or App
• Fill Basic information sheet by client

2.   Sales Pre check & Validation (Based on App/website/Address verification only)

The Sales representative shall provide a functional App/link required to the Validators will download the App using the link provided and check the following: Sales Validation

• Make a video recording of the App as part of due diligence.
• Download the terms & conditions.
• Check for name of company in the T&C.
• Check for customer care numbers & email addresses.
• List out all data being asked for registering as user, specifically if Aadhaar is being asked for.
• Check if this App/link has been validated earlier.
• Anything unusual in the App that he might find

3.   Legal Validation

Check following on platform: –

• Name of the Company
• Address of headquarter and Branches if any,
• Name and details of its website
• Legal and compliance team will confirm the compliance as per the law of the land.

4.   Documentation, KYC & Agreement

Sales will collect all documents (Based on checklist) from Customer as required by Legal Team for documentation, KYC & agreement purpose.

The Legal will check for a minimum on the following issues:

• MCA site for validity of company
• List of existing directors
• How many other directorships the directors hold.
• Cross reference directors against the data base created with Adhishwar to check for common threads.
• Cross reference the incorporation date on site and as provided in Annexure ‘A’.
• Paid up capital (depends on the nature of business with adequate capital, no restriction as such on 1 lac, 10 lacs etc.)
• Charges created.
• Clarity of BR and the attested signatures of the authorized signatory
• Validate signatures of signatories against their OVD.
• Cross check the MOA/AOA to see if object clauses support the business proposed.
• Do an additional search on regulatory websites with respect to the company and report any untoward incident.
• Do check for existence of web-portal of the company if any, to cross verify.
• Any connection with Adhishwar, its employees or directors
• Physical Verification of office by Sales team and click photos with GPS enabled Camera APP. Sales to ensure client any officer meeting with our representative.
• If everything OK, then agreement process starts.

5.   Agreement

• Standard agreement to be shared with all the clients- (Involvement by Sales and Legal Team)
• E-sign/offline agreement signing as per the availability and convenience of both parties
• 2 Copies to be created by Legal- Client and Adhishwar
• After Signature 1 Soft copy created immediately and keep in database
• Legal will confirm receipt of agreement.

6.   Signing: Agreement & NDA

Agreement signing by Legal Head

7.   Onboarding on platform

IT team create the MID looping Sales, Operations & Finance once received go ahead from Legal

The SR / RM will share the commercials with the IT team to configure in the system. This same information will also be shared by them with the operations and finance team.

The IT team will start integration / move the merchant to production environment. It will create the MP ID’s login and password (shared with client in two separate mails respectively) provided by the client.

The IT team will ping the IP addresses provided by merchant and ensure the IP address and the location of servers is in India. If not will reach out to the Legal & CMO to check if the business the merchant runs is exempt from such provisions. The IT team will either itself or through the SR / RM give the merchant a walk through on the access and use of the Adhishwar portal.