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As a merchant, getting started with ForumPay is easy. It may require some guidance and that is what we are here for! We’ve prepared a simplified step-by-step guide to help you bring crypto-paying customers to your business!
Before jumping in, if you are unfamiliar with ForumPay’s crypto payment solutions we encourage you to discover more through our website www.forumpay.com. Learn about our services, products, and all things crypto. A ForumPay sales representative is always ready to help with any question you may have; just click the chatbox on the lower right-hand corner of the screen.
Signing Up:
Signing up is easy! Simply click on the button “start now” on our website. From there, you will be guided to a contact form where you will be asked for basic information like your name and email address.
Once we receive your request, we will confirm with you through email to begin the process.
Know Your Customer Process:
We take safe transactions seriously at ForumPay. Therefore, we have an in-depth ‘Know Your Customer’ (aka KYC) process to complete a required customer due diligence questionnaire. Admittedly this part of the onboarding process can be a little lengthy and requires some documents. Although that is the case, once you’ve collected all the right pieces, it’s smooth sailing from there!
Without boring you with the fancy whatnots, here is a simplified list of what you will need to collect to complete the KYC onboarding process:
- Signed ownership or shareholder chart identifying the ultimate beneficial owners (UBOs) having at least 25% ownership of your entity or business
- Certificate of incorporation copy for each entity provided in the previous document
- Customer due diligence questionnaire provided by ForumPay
- Proof of ownership no more than 90 days after issuing (if you’re unfamiliar, we are happy to provide a UBO document to fill out)
- Proof of address for each shareholder or owner (this can be a utility bill, bank statement, or other government-issued residential statements no more than 3 months old)
- Proof of identity for each shareholder or owner in full color and unedited
- PEP declaration provided by ForumPay for all shareholders or owners
Once all of these documents are collected and filled out, they are to be uploaded in a secure folder provided by ForumPay. Important notice: DO NOT freely email the documents as they contain sensitive information. Documents must strictly be uploaded via the provided secure folder.
When all documents are securely uploaded, shoot your sales representative an email to let them know you’ve completed the process and your profile will be created. If necessary feel free to contact a sales representative through our website chat box for more detailed information on each document.
ForumPay App and Web Widget:
Approved documents mean it’s time to start accepting crypto payments! All you have to do is download the ForumPay app or web widget to your POS system or online store.
When preparing a sale or transaction with ForumPay you will notice a couple of things to initiate a payment:
- A “Select Your Wallet” dropdown to select the customer’s wallet
- A “Select Cryptocurrency” dropdown for the customer to select the cryptocurrency they will pay in
Did you know ForumPay’s technology allows the enabling of any cryptocurrency? With enough demand, we have the power to enable any requested cryptocurrency!
- Next, there will be a “Reference no.” section to identify the transaction, no need to do anything there
- Then an “Order amount in currency” section indicating the equivalent crypto amount in fiat
- Lastly, an “Order amount in crypto” section indicating the equivalent fiat amount in the selected cryptocurrency
Note the “Expected time to confirm” indication. This simply estimates the time the instant transaction will take to be approved by ForumPay free of value fluctuation from the time the customer presses “send” at the end of the process.
ForumPay QR Code:
After confirming you are, indeed, not a robot and clicking continue, a ForumPay generated QR code will appear on the screen. Simply present this QR to the customer to scan it with their mobile crypto wallet.
Payment Completion:
After scanning the QR code the customer clicks send from their digital wallet to finish the payment. The transaction is instantly approved and funds are automatically guaranteed to you in the currency of your choice!
Transaction Visibility:
View confirmed transactions in the “merchant portal”. Your funds are settled into your bank account daily!
Although there is a lot more to discover with ForumPay, we hope this simplified rundown gives you some ease of mind when starting to accept crypto payments!
Stay tuned for some more ForumPay guidance! Browse our website to learn more, speak with a sales representative, or read up on all things crypto! And don’t forget to follow us on Instagram and Twitter for more!
