What does it mean?

Palisis MarketPay is a new functionality that allows you to accept payments and issue refunds online. All you have to do is create and verify your merchant account directly from the Palisis Backoffice. You will be able to start processing credit card payments immediately, no need to worry about the tedious process of opening a new merchant account. 

With Palisis MarketPay, we are able to perform the following:

• Onboarding and verification: Easy onboarding process and “Know Your Customer” (KYC) checks from the Backoffice. 
• Split payments: Split payments between one or multiple sub-merchants like sales agents and suppliers, deduct costs or commissions as needed, and hold funds until payout. 
• Payouts: You will receive payouts on a monthly basis. To receive payouts you’ll need to link a valid bank account.

 

How can I start the onboarding process?

One big advantage of Palisis MarketPay is the ability to create commercial agreements and discuss rates directly with your Palisis account manager, meaning one less supplier you have to deal with. Contact Palisis support (support@palisis.com) to activate this feature for your account. Once activated, you can create a MarketPay account on your own, following the steps mentioned here.

You can start the onboarding process from either the Backoffice (if you are an owner or supplier) or from the Boxoffice (if you are a partner). You will need to confirm both Adyen and Palisis Terms of Service (ToS) before creating a Palisis MarketPay account. Customers can also select a legal entity:

• Individual: a person or sole proprietorship
• Business: a business or company

For security purposes, only admin users are able to create and manage a Palisis MarketPay account:

In the Backoffice:

1. Click on the company name in the upper right corner of the screen
2. Click on “Merchant Marketpay”
3. Select the legal entity
4. Tick all the boxes and click on “Create new Merchant Account”

 

In the Boxoffice, partners can accept TOS and create an account:

1. Click on the company name in the upper right corner of the screen
2. Click on “Marketpay KYC”
3. Select the legal entity
4. Tick all the boxes and click on “Create new Merchant Account”

 

There is also a new tick box in Configuration > Sales Channels > Merchant, which indicates if your merchant is a Palisis MarketPay account. The box is automatically ticked when a MarketPay account is created. The merchant account name and ID are entered in the following fields. Important: Do not change or edit these fields. 

If you have more than one Palisis account which you want to use with the same MarketPay merchant, contact our support desk (support@palisis.com) to get help with the setup.

 

What should I do in the KYC process?

Fill in all the information required by the “Know Your Customer (KYC)” process, including company details, address, beneficial owner, bank details and identification documents.

First, you will see the onboarding page where you need to click on “Get started” to begin the process:

 

Once this is done, you will see another page where you can add company and beneficial owner details. Let’s start with the company details:

 

Here you will need to confirm your authority to complete this procedure:

 

After you confirm, you can enter the business details and address:

 

Finally, you will see a spinner on the last page, which means that the system is still verifying the data entered. You can either finish this part by clicking on “Done” or you can add more details by clicking “Upload the company document”.

 

The status of the company details should be “In further review” and you can continue with adding the ultimate beneficial owner details (UBO):

 

 

At the end, both sections will be “In further review”, so you can complete the process and start accepting payments.

 

You will be automatically redirected to the Palisis Backoffice.

 

What should I do after that?

If you have already started the onboarding process but are still missing some information, every time you log in to the Palisis Backoffice or Boxoffice you will see a warning pop up reminding you to complete the process. This message has a direct link to the KYC page.

 

Once the process is complete, you won't receive any more warnings. You can still access the MarketPay onboarding page by clicking on the “Merchant Marketpay” section - you will be automatically redirected.

 

 

Once the Palisis MarketPay account is created, there are a few possible scenarios, depending on user type:

• Backoffice admin users will see an error warning pop up and have access to the KYC Onboarding Page from the Backoffice. They can fill in the missing data. 

 

• Backoffice standard users will see the error message but do not have access to the “Merchant Marketpay” section or the KYC onboarding page.

 

• Boxoffice admin users will see an error warning pop up and have access to the KYC Onboarding Page in Boxoffice. They can fill in the missing data.

 

• Boxoffice standard users will see the error warning but do not have access to the Hosted Onboarding Page (HOP).

 

Your existing payment gateway will not be replaced automatically; Palisis admins have to make that change. If there was no payment gateway previously configured, Palisis MarketPay will become your default gateway automatically.