Onboarding at PayOk: requirements to activate your card payment acceptance
Onboarding is the registration and document verification process that every merchant must complete before processing card payments through PayOk. This process addresses a regulatory obligation; PayOk applies the KYC (Know Your Customer) and AML/CFT (Anti-Money Laundering and Countering the Financing of Terrorism) protocols required by current regulations.
The objective is twofold. On one hand, it protects your business and your customers against fraud. On the other hand, it ensures that the entire payment chain operates within the European and Spanish legal frameworks.
How onboarding works at PayOk
The registration process is structured into phases designed to be agile without compromising regulatory compliance:
- Pre-approval. You complete the online form where your commercial activity, business model, and expected transaction volume are analyzed.
- Document verification (KYC/KYB). You provide supporting documentation according to your legal form (sole trader or company). PayOk validates the authenticity of the documents and cross-checks the data with official registries and international sanctions databases.
- Risk analysis. The risk profile of the merchant is evaluated based on the business sector, country of operation, and transaction typology. Merchants in regulated or high-risk sectors may require additional documentation.
- Signing of the framework contract. The contractual relationship is formalized through the payment services framework contract, in compliance with Royal Decree-law 19/2018 on payment services.
- Activation. Once all documentation is validated, your online payment terminal is activated, and you can start processing transactions.
Onboarding at PayOk is designed to be completed within an average timeframe of 24 to 48 hours from the receipt of all correct documentation. Document verification is carried out manually and with OCR tools, biometrics, and automated cross-checking with official databases.
Required documentation according to legal form
Documentary requirements vary depending on whether you operate as a natural person (sole trader) or as a legal entity (company). This distinction responds to Article 4 of Law 10/2010 and Royal Decree 304/2014, which establish due diligence obligations proportionate to the risk.
| Document | Sole Trader | Company |
|---|---|---|
| Online pre-approval form | ✓ | ✓ |
| Valid DNI or NIE (front and back, color, high resolution) | ✓ | Only UBO (>25 %) and representatives |
| Registration in the Tax Census (Form 036/037) | ✓ | ✓ |
| Latest social security receipt for self-employed or tax return | ✓ | Not applicable |
| Deed of incorporation with registration in the Mercantile Registry | Not applicable | ✓ |
| Declaration of beneficial ownership (KYB protocol) | Not applicable | ✓ |
| Signed organizational chart (complex structures) | Not applicable | If applicable |
| Deed of power of attorney and current certificate of positions | Not applicable | If there are representatives |
| Bank ownership certificate (less than 3 months old) | ✓ | ✓ |
| Declaration of economic activity and PEP | ✓ | ✓ |
| PayOk payment services framework contract | ✓ | ✓ |
Applicable regulatory framework and security
Every onboarding requirement has a specific legal basis. This is not unnecessary bureaucracy, but rather strict compliance with the regulatory framework that applies to payment institutions in Spain:
- Law 10/2010, of April 28. Establishes the obligations for formal client identification, verification of the beneficial owner, and classification by risk levels. Article 7.3 determines that a business relationship can only be rejected on an individual basis when the client prevents the application of due diligence measures appropriate to their risk profile.
- Royal Decree 304/2014. Develops the obligations for document retention (minimum of 10 years), simplified and enhanced due diligence procedures, and reporting protocols to SEPBLAC.
- Royal Decree-law 19/2018. Transposes the PSD2 Directive into Spanish law and regulates payment services framework contracts, information transparency obligations, and user rights.
- EBA Guidelines EBA/GL/2021/02 and EBA/GL/2024/01. Establish the risk factors that entities must evaluate in each business relationship, including the analysis of the business sector, ownership structure, and origin of funds.
For merchants, this means that the documentation requested during onboarding is not a courtesy formality. It is the foundation that allows PayOk to operate in accordance with the law, protect your business against fraudulent chargebacks, and keep your processing account active without interruptions.
Advantages of a rigorous onboarding
- Protection against fraud. Document verification and prior risk analysis filter out potentially fraudulent operations before they affect your account.
- Operational continuity. A correctly verified merchant is less likely to experience blocks, holds, or account terminations due to regulatory non-compliance.
- Access to better conditions. Merchants with low risk profiles, backed by complete documentation, can access more competitive fees and shorter settlement periods.
- Frictionless compliance. The manual and digital process with OCR and automated validation reduces registration time without sacrificing regulatory rigor.
Legal and Regulatory Norms:
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