1. Home
  2. Selling on Marteu
  3. Business Verification

Business Verification

What is business verification? & why do we do it?

Business verification, otherwise known as KYC/KYB, is a legal requirement we must complete in order to verify your identity and business. Without verifying your business, you will not be able to receive funds from your Marteu Customers.

In order to take part in the escrow process, which is the only method of payment utilized on our platform, our payment partners and banks must identify and verify you and your company’s identity in order to comply with local and international laws.

Not only is Business Verification a legal requirement, but it also helps us keep our customers safe and subsequently allows us to help protect your brand name by ensuring you are only selling alongside other manufacturers who are running legitimate businesses.


Marteu’s Business Verification Process

After being accepted as a seller on Marteu you will be prompted either via email, or on our website, to verify your business.

Once you start the verification process, you may need to upload additional documentation and someone may reach out to you afterwards in order to confirm this information or request additional documentation. Verification may take several days or weeks in order to complete.

You do not need to wait for verification before you can start selling your products on Marteu.

You can still upload products, receive orders, and even produce and ship orders to your Marteu Customers without completing verification.

Your verification status will not impact your customers ability to submit payment for your products to the escrow account.

You will not be able to receive funds from the escrow account without being verified.

In other words. While we can secure the payment for your products without verification. Once your Marteu Customer accepts the order we will not be able to disburse payment to your bank account without verification being complete.

Required Documentation

You will be asked to to enter your personal information, take a selfie, and submit a picture of a valid photo ID.

You will also be asked to identify individuals who own 25% share or more of your business. These individuals will receive a link via email for them to also enter their personal information, take a selfie, and submit a picture of a valid photo ID.

Business formation documents may also be requested for submission.

Privacy and Data Protection

Verification is done via Passbase, a reputable GDPR & CCPA compliant KYC provider.

Marteu does not store the personal information you submit for verification.

Passbase systems are also SOC 2 certified to ensure that your information cannot be accessed without authorization. Passbase will store your information for 3 years, or until you submit a removal request. To read more about Passbase security, you can visit their help center.


FAQ

What if another business owns 25% or more of my business?
If another business owns 25% or more of your business, then we will also need anyone who owns 25% or more of that business to follow the same process. To do this, simply input their information in the same way as you would anyone who owns 25% or more share of your business directly.
I did not receive my one time verification code
1) Ensure that your are connected to the internet.

2) Make sure you have entered your email address correctly.

3) If your email address is correct, check your spam/junk folder.

If after following the past 3 steps you still have not received the verification code. Please reach out to support@marteu.com
What selfie should I upload?
We suggest conducting verification on a mobile device in order to make it easier for you to take the selfie.

Please take a new clear photo of your face with your shoulders in view. The photo must be taken within the last 24 hours.

Make sure that you are in a well-lit area and double-check to make sure the camera is in focus without glare.

Selfies not taken within the past 24 hours, that are black and white, or unclear will be rejected.
What types of ID are accepted?
Passports, driving licenses, or government-issued IDs are all valid forms of ID and will be accepted.
What is a shareholder document?
This is an official document from your local company register that shows a list of all the shareholders in your business and how many shares each shareholder holds. We need this to verify who owns 25% or more in your business as this is a compliance requirement for us.

To add this document, simply sign in to your account, click on your profile on the left, and then under ‘Company Shareholders’, click ‘upload document”.
What shareholder documentation do I need to provide if my company is publicly owned?
If your business is a public company then we need to verify one person of importance in each entity such as the CEO of that public company along with your company’s CEO. 

Simply add their full name and e-mail address on the shareholder page when completing your verification.
Why has my ID document been rejected?
Sometimes it is not possible to verify an ID document. Here are some common reasons for documents being rejected.

– Document is black and white.
– Scanned copy. Please take a live picture of your ID document.
– Cropped/blurry, flashlight or your finger is blocking some information on ID document.
– Wrong page of passport uploaded. Please upload the passport page with your picture on it.
– The document is expired.
Why has my selfie been rejected?
Sometimes it is not possible to identify you in the selfie that you submit. Here are some common reasons for documents being rejected.

– There is another person in the selfie.
– Your selfie was edited.
– You wore sunglasses or another accessory that makes it difficult to identify you.
– Selfie was not captured in the last 24 hours.
Why has my proof of address been rejected?
Sometimes it is not possible to your address based on the information you provide. Here are some common reasons for documents being rejected.

– Utility bill/bank statement does not contain your name.
– Utility bill/bank statement out-dated. Remember it needs to be issued within 90 days.
– If you are uploading a utility bill, remember, we accept only water, gas, electricity bills.
– The document was blurry/cropped.
– We require a full page document.
Why has my shareholder document been rejected?
The document may not contain shareholder information or was not issued within the last 90 days.
Updated on June 21, 2022

Was this article helpful?

Leave a Comment