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Applying for MOTO payments
Applying for MOTO payments

What needs to be submitted and why?

Updated over a week ago

Given the high-risk nature of MOTO payments, Yetipay has stringent compliance measures in place to protect both the business and its customers. These measures are designed to ensure that only legitimate and reliable businesses are approved to process MOTO payments.

Here’s what you need to know:

  1. If you are in the hospitality industry:

    1. We can provide you with a £100 per month MOTO payment allowance provided that you

      1. Complete Stripe identification verification
        ​

  2. For anyone else or for unlimited MOTO payments per month we require:

    1. 6 Months of Processing Statements: If you have been processing payments with another provider, Yetipay requires six months of processing statements. These statements help us assess your transaction history, volume, and any potential risk factors such as chargeback rates.

    2. 3 Months of Bank Statements for New Card Users: If you are new to accepting card payments, Yetipay requires six months of bank statements. This allows us to verify the financial stability and legitimacy of your business.

To apply please contact our support team here.

Why do you require the above?

  1. Risk Assessment: By reviewing your processing or bank statements, Yetipay can gauge the financial health and stability of your business. This assessment helps us determine whether you have a reliable payment history and can handle the potential risks associated with MOTO payments.

  2. Fraud Prevention: Ensuring that businesses have a solid transaction history or a stable financial background helps mitigate the risk of fraud. Fraudulent businesses or those with poor financial health are more likely to engage in or fall victim to fraudulent activities.

  3. Regulatory Compliance: Payment processors are subject to strict regulations to prevent fraud and money laundering. By requiring these documents, Yetipay ensures compliance with industry standards and regulatory requirements, protecting both the business and its customers.

  4. Protecting Yetipay’s Reputation: Approving only legitimate and stable businesses helps maintain Yetipay’s reputation as a trusted payment processor. It also ensures that our network is not exploited by fraudulent or high-risk activities.

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