A critical part of the merchant onboarding process is ensuring the legitimacy of the account by performing KYC procedures on the entity. The business must exist, be currently operational, and the account submission must be authorized. While the specific information required to verify a merchant will depend on jurisdictional requirements, information commonly collected includes company name, registered business and/or tax identification number and registered business address. To help with the due diligence process, information like type of business, sales turnover, bank account details and beneficial ownership might also be collected at the initial form-fill stage.