If we are a corporation why do we need to supply personal information to activate Shopify payments?
Has anybody else had an issue with this? Is there any way to go around it, other than only using Paypal as a way to accept payment from customers?
Thanks,
Gus
Hi, @GUSTAVO2018 .
Thank you for reaching out!
If you are a corporation and want to activate Shopify Payments, you will still need to provide personal information because Shopify Payments requires the personal information of the business owner or authorized representative of the corporation to verify their identity and ensure compliance with legal and regulatory requirements.
This is because Shopify Payments is a payment processing service that is subject to various laws and regulations related to financial transactions, such as anti-money laundering (AML) and know-your-customer (KYC) rules. These regulations require payment processors to verify the identity of the individuals or businesses they work with and monitor transactions for suspicious activity.
In order to activate Shopify Payments, you will need to provide personal information such as your name, date of birth, and social security number or government-issued ID number. This information is used to verify your identity and ensure that you are authorized to act on behalf of the corporation.
While providing personal information may seem like a hassle, it is necessary to comply with legal and regulatory requirements and protect against fraud and financial crimes. Shopify takes the security and privacy of its users seriously and uses industry-standard encryption and security measures to protect personal and financial information.
Please let me know if you have any further questions! I would love to learn more about your business. What type of products do you sell?
Talk soon,