Setting up a Pesapal account is a straightforward process designed to help businesses streamline their payments while ensuring compliance with regulatory requirements. As part of this process, merchants are often required to submit Know Your Customer (KYC) documents.
However, many may not fully understand what KYC is or why it's important. This guide outlines the documents needed for setting up your Pesapal account and explains the role of KYC in the process.
Know Your Customer (KYC) is a standard process used by financial and payment service providers to verify the identity of their customers. KYC ensures that businesses operate within legal and regulatory frameworks, preventing fraud, money laundering, and other financial crimes.
Establish trust: It confirms the legitimacy of your business to customers and partners.
Facilitate secure transactions: It safeguards your business against fraudulent activities.
Ensure compliance: It aligns your operations with local and international financial regulations.
When setting up a Pesapal account, you may be asked to submit KYC documents as part of the onboarding process or during routine account reviews.
Read Also: How to Open a Business Account on Pesapal
Depending on the type of account you’re registering, the required documentation can vary. For all account types, Pesapal adheres to KYC regulations, ensuring the integrity of the payment process. Below, we’ve outlined the specific documents required for different account types to make your setup experience smooth and efficient.
Sole proprietors are required to submit more documentation as they are operating as a single business entity. Here are the required documents:
(1) ID/Passport
(2) Certificate of Registration
(3) KRA Pin
(4) Cancelled Cheque from Bank /Letter confirming Bank Details / Bank Statement
(5) For Tours -TRA Certificate, KATO or KATA Certificate
(6) For E-Commerce - an active online link is required
1) ID/Passport
(2) Business Permit /Business Certificate
(3) Business Registration
(4) URA Pin
(5) Cancelled Cheque from Bank /Letter confirming Bank Details / Bank Statement
1) ID/Passport
(2) Business Permit /Business Certificate
(3) Business Registration
(4) TRA Tin
(5) Cancelled Cheque from Bank /Letter confirming Bank Details / Bank Statement
Partnership Account (Kenya)
If you’re setting up a partnership, you will need to submit the following documents:
(1) Certificate of Registration
(2) Pesapal Contract
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Partnership KRA Pin/ Partnership Deed
(5) Minutes of Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Partners
(7) Partner’s KRA Pin
(8) For Tours -TRA Certificate, KATO or KATA Certificate
(9) For E-Commerce - an active online link is required
(1) Certificate of Registration
(2) Last filed returns
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Partnership URA Pin/ Partnership Deed
(5) Minutes of Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Partners
(7) Partner’s URA Pin
1) Certificate of Registration
(2) Last filed returns
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Partnership Tin Certificate/ Partnership Deed
(5) Partnership Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Partners
(7) Valid Business License
(8) Partners’ Tin Certificate
For a limited liability company, the documentation requirements are more comprehensive. The following documents will be needed:
1) Certified Certificate of Incorporation
(2) Latest CR12
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Company Pin
(5) Minutes of Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Directors
(7) Director’s KRA
(8) Pesapal Contract
(9) For Tours -TRA Certificate, KATO or KATA Certificate
(10) For E-Commerce - an active online link is required
(11)Ultimate Beneficial Ownership Declaration (BOF1) Form from Business Register services or UBO Form from Pesapal
(1) Certified Certificate of Incorporation
(2) Company **Form 7/Form 20
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Company Tin
(5) Minutes of Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Directors
(7) Director’s URA Tin
(8) Form 1 from URSB services or UBO Form from Pesapal
(1) Certified Certificate of Incorporation
(2) Memorandum and Articles of Company
(3) Cancelled cheque from Bank/Letter confirming Bank Details
(4) Company’s Tin
(5) Minutes of Resolution Authorizing Entry into Business Dealing with Pesapal
(6) ID/Passport of the Directors
(7) Director’s Tin Certificates
(8) Ultimate Beneficial Ownership Form from Pesapal
Submit your documents and complete your KYC to get set up within 24 hours
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