Filling (NZ) Application - What documents do I need?

This guide will help you understand what documents you need while filling in your application

Providing your Business NZBN (New Zealand Business Number)

To be successful in your application for payments with Payrix, you will need a valid NZBN (New Zealand Business Number).

Where can I find my NZBN?

Your NZBN (New Zealand Business Number) is a unique 13-digit number, and can usually be found by:

• Checking your business invoices

• Looking at letters sent to your business by the government

• Using the free NZBN lookup provided by the Government

What do we use it for?

We use an NZBN verification process to match your company with its relevant NZ Business Register record. Using this method will help you prefill some important information and save you time in applying. It also helps prove that your company is legitimate and registered in New Zealand.

Using NZ Business Register records, we will pull in key information about your business, and include it in your application with us. This includes:

• Company Legal Name and Trading Name

• Registered Business Address

• Details of your Authorised Representatives and Beneficial Owners

This information is only shared with us for the purpose of validating your company and processing your application.

CCompany Banking Details

We need to verify your company bank account and confirm which accounts you want to use for billing and settlements with us.

There are two main ways to verify your bank accounts:

• Looking at letters sent to your business by the bank

• Manually entering your bank account details and sharing a copy of your most recent bank statement/s.

You will need to provide us with:

• The Bank and Branch Number, Account Name, and Account Number for your Billing and Settlement account/s AND

• The front page of your most recent bank statement, OR

• A stamped letter from your bank with your account details

Pricing, Services, and Transaction Information

You will need to be able to provide information about the pricing and services you provide to your customers, as well as some numbers based on your company's transactions.

We need you to provide:

• A description of the goods and services you provide

• A summary of your most common payment terms, including whether you accept payments in arrears or advance and if so, how many days in advance

• The average value of your transactions, and the highest single transaction amount you expect to process with us

• How many transactions/purchases you expect to process in one month on average

To do this, we recommend having the past 6 months of your business’ transaction data on hand while you complete this section, or to consult with your financial controller or accountant. It’s important this information is accurate, as it will determine how your account is set up with us.

Allocating fees and confirming pricing

In the Transaction and Pricing section, you will also need to confirm you have received a copy of your fees and pricing. This will be displayed as a table, with a checkbox to digitally authorise you have seen the pricing before you submit your application.

Depending on your account, you may also need to allocate how you want to split your fees between your business and your customers.

Authorised Representatives and Beneficial Owners

As part of verifying your company is legitimate, we need to confirm the details of any individual who is:

• A Director or Authorised Representative of your company

• A beneficial owner, with 25% or greater ownership in your company

Depending on your company setup, you may not have any beneficial owners (such as not-for-profit or charity organisations). If this is the case, you still need to submit the details of at least one authorised representative.

Providing details of Owners, Directors, and Authorised Representatives

We need your applicable Owners (those with 25% or more share in your company), Directors, and/or Authorised Representatives to confirm their personal details and provide a form of identification to be able to proceed with your application.

In terms of personal details, we will need them to verify their identity by confirming their:

• Full Name

• Date of Birth

• Residential Address

• Ownership % (if they are an Owner)

• Role in Business

They will also need to provide a clear copy of their ID, which can be either:

• Current Drivers License

• Passport (dated within two years)

Identification Guidelines

To ensure your application gets approved, the ID you upload needs to meet some minimum standards to be accepted:

Choosing Your Signatories

Once all of your Owners, Authorised Representatives, and/or Directors have completed their details, you will need to elect 1 or more signatories to verify your application and authorise your company to receive financial services from Example Payments - FinTech Demo and Payrix. This will be automatically sent to them via email to review and approve, once you submit your application.

Need Help?

If you are struggling to find your documents, or are unsure what to provide us, please reach out by filling out our contact form and we will be in touch with you as soon as possible to help with your application.