Contact Support


    Support Home RMS Pay Setup RMS Pay Change of Business Ownership

    Table of Contents

    Related Articles

    Popular Articles

    RMS Pay Change of Business Ownership

    Update the RMS Pay account with change of business ownership in RMS.

    Decision Tree

    The RMS Pay account will need to be updated when a change of business ownership occurs at the Property.


    • Information
    • Setup
    • Add Button

    Information

    The RMS Pay account will need to be updated when a change of business ownership occurs at the Property.

    RMS Pay payouts will continue into the existing owner's bank account until KYC is passed by the new owner which can take 2-3 business days after successful submission of all required documentation.

    Existing owners can use the RMS Pay Settlement Report to determine any payments that need manual transfer to the new owner's bank account during the transition period.

    RMS Pay is a fully integrated payment gateway solution providing PCI Compliant credit card storage and payment processing.

    Payment Gateways are an eCommerce application provided by merchant services to authorise and process credit card payments in a PCI Compliant manner.


    Know Your Customer

    To complete change of ownership and establish a sub-merchant account that complies with regional financial regulations (KYC) the following business information is required from the new business owner.

    Personal Details

    The business owner or financial controller and an account signatory must provide a copy of government issued photo identification and the following personal information.
    • Full Name
    • Date of Birth
    • Address
    • Email
    • Phone Number
    Delete

    Business Details

    The following information must be provided including a copy of a company document that shows the legal business name, business address and business registration number.
    • Legal Business Name
    • Business Registration Number
    • Tax Number
    • Business Phone Number
    • Business Address
    • Business Email
    • Business Website

    Bank Details

    Bank account information for the bank account where deposits will be made must be provided with a recent copy of a bank statement that includes the bank logo, account number and account holder name.

    Delete


    Delete

    Identity verification cannot be completed if the uploaded files do not match the information entered, are blurry or obscured, password protected or more than 12 months old.

    Government issued identification must be valid and not expired.

    Delete

    System Administrators will require Security Profile access to access the Module Market.


    • Setup
    • Add Button

    Setup

    Have your System Administrator complete the following.

    1. Go to the Module Market in the Side Menu of RMS.
    2. Navigate to the 'Activated' tab.
    3. Select the 'Configure' icon on the RMS Pay Module.
    4. Select and complete the 'Company Details' section.
    5. Select and complete the 'Bank Details' section.
    6. Select and complete the 'Business Owners' section.
    7. Select 'Complete'.


    Delete

    Selecting the  'Configure' icon will open a new browser window to complete KYC.

    Steps 7 - 10 must be completed to establish a sub-merchant account that complies with regional financial regulations (KYC) and create an RMS Pay account.

    Digital identity verification will use the information entered and the uploaded documents to virtually confirm the account information. When digital identity verification cannot be completed the uploaded documents will be reviewed manually and may take 48-hours or more to confirm.

    Delete

    Identity verification cannot be completed if the uploaded files do not match the information entered, are blurry or obscured, password protected or more than 12 months old.

    Government issued identification must be valid and not expired.

    Delete

    RMS Pay payouts will continue into the existing owner's bank account until KYC verification has been passed by the new owner.


    • Guide
    • Add Button

    Guide

    Go to the Module Market in the Side Menu of RMS.

    Navigate to the 'Activated' tab.

    Select the  'Configure' icon on the RMS Pay Module.

    Select and complete the 'Company Details' section.

    Select and complete the 'Bank Details' section.

    Select and complete the 'Business Owners' section.

    Select 'Complete'.


    Delete

    Digital identity verification will use the information entered and the uploaded documents to virtually confirm the account information. When digital identity verification cannot be completed the uploaded documents will be reviewed manually and may take 48-hours or more to confirm.

    Delete

    RMS Pay payouts will continue into the existing owner's bank account until KYC verification has been passed by the new owner.


    Setup

    Have your System Administrator complete the following.

    1. Go to the Module Market in the Side Menu of RMS.
    2. Navigate to the 'Activated' tab.
    3. Select the 'Configure' icon on the RMS Pay Module.
    4. Select and complete the 'Company Details' section.
    5. Select and complete the 'Bank Details' section.
    6. Select and complete the 'Business Owners' section.
    7. Select 'Complete'.


    Delete

    Selecting the  'Configure' icon will open a new browser window to complete KYC.

    Steps 7 - 10 must be completed to establish a sub-merchant account that complies with regional financial regulations (KYC) and create an RMS Pay account.

    Digital identity verification will use the information entered and the uploaded documents to virtually confirm the account information. When digital identity verification cannot be completed the uploaded documents will be reviewed manually and may take 48-hours or more to confirm.

    Delete

    Identity verification cannot be completed if the uploaded files do not match the information entered, are blurry or obscured, password protected or more than 12 months old.

    Government issued identification must be valid and not expired.

    Delete

    RMS Pay payouts will continue into the existing owner's bank account until KYC verification has been passed by the new owner.

    • Guide
    • Add Button

    Guide

    Go to the Module Market in the Side Menu of RMS.

    Navigate to the 'Activated' tab.

    Select the  'Configure' icon on the RMS Pay Module.

    Select and complete the 'Company Details' section.

    Select and complete the 'Bank Details' section.

    Select and complete the 'Business Owners' section.

    Select 'Complete'.


    Delete

    Digital identity verification will use the information entered and the uploaded documents to virtually confirm the account information. When digital identity verification cannot be completed the uploaded documents will be reviewed manually and may take 48-hours or more to confirm.

    Delete

    RMS Pay payouts will continue into the existing owner's bank account until KYC verification has been passed by the new owner.

    Was this article helpful?

    Send Feedback

    Can’t find what you’re looking for?

    Let us help you!

    Contact Support