Guide to completing Payment KYC with Razorpay

To activate online payment methods such as cards, UPI, net banking and wallets on your SmartBiz website, it is imperative to undergo KYC verification with Razorpay.

In this article, we will cover:

1. Mandatory store creation checklist
2. Documents needed for payment KYC
3. Steps to complete KYC verification with Razorpay via Mobile Application
4. Steps to complete KYC verification with Razorpay via Desktop Application
5. Steps to unlink/deboard Razorpay via desktop application

1. Mandatory store creation checklist:

Before submitting your documents for KYC, you will need to update your store name, location, business categories, store logo, store description and add a minimum of 5 product listings. If your business is registered, add the trade name as per GST on your storefront as well. These are mandatory pre-requisites for KYC completion.

2. Documents needed for payment KYC:

Following is the list of Know Your Customer (KYC) documents Razorpay needs to verify your KYC. You need to upload scanned photocopies (soft copies) of these documents.

- LLP/Private Limited/Public Limited:

- Partnership:

- Sole Proprietorship:

- Individual/Unregistered Businesses:

3. Steps to complete KYC verification with Razorpay via Mobile Application:

1. Navigate to the "Profile" section on your SmartBiz account dashboard.
   
2. Within the "Profile" section, select "Manage Payments".
3. Under "Manage your payment options," click on "Set Up Online Payment" powered by Razorpay.
   
   
   
4. You will have 2 options:
   a). Create Account - This option should be used when you do not have an existing Razorpay account with the email Id that is used for SmartBiz login
   b). Link Existing Account - This option should be used when you already have an existing Razorpay account with an email Id that is used for SmartBiz login.
   
   Flow to complete KYC when you do not have Razorpay account with the email Id that is used for SmartBiz login.
   
   
5. After clicking on “Setup Online Payment”, please select your “Business Type” and update your “Legal Business Name”. Then, click "Create Razorpay Account."
   
6. You will now have an option to complete KYC by clicking on "Complete KYC" under “Manage Payment” option. Clicking on "Submit KYC with Razorpay”
   
7. You can use your registered email Id or phone number (credentials used for SmartBiz login) and click on "Next". Then you will receive an "OTP" on your registered email Id or phone number. Enter the OTP and click on "Submit OTP".
   
8. Click on “Submit KYC details”.
   
9. Select the various details like ‘Business Type’, ‘Business Category’ and etc in the “Business Overview” section.
   
10. Add the PAN details along with other business details.
    
11. You will be required to fill in "Bank details" which you wish to be associated with your Razorpay account.
    
12. In “Documents Verification”, you can upload either of your Aadhar card/Passport/Voter Id front and back sides.
    
13. Once you complete filling in all the details, the “Submit Form" button will be enabled. You can click on "Submit button" to complete KYC process. Note: An email from Razorpay will be sent to your registered email Id.
14. Upon completion, you will see a confirmation page.
    

    Note:

    All features will be activated simultaneously, starting with Debit, Credit cards, UPI, Net banking, and wallets.
    KYC completion may take 2-4 business days.
    All KYC-related updates will be communicated to the registered email ID.

Flow to complete KYC when you have an existing Razorpay account with the email Id that is used for SmartBiz login.

1. You can use your existing Razorpay account to integrate with SmartBiz account. Click on "Link Existing account".
2. Click on "Login". Please enter your existing registered email id or phone number that was used for SmartBiz login.
   
3. SmartBiz will require access to your existing Razorpay account. Please click on "Authorize".
   

4. Steps to complete KYC verification with Razorpay via Desktop Application:

1. Login to the Desktop Application with your credentials and navigate to “Settings”
   
2. Select “Payments” where you will have 2 options:
   a) Link Existing Account - This option should be used when you already have an existing Razorpay account with an email Id that is used for SmartBiz login.
   b) Create Account - This option should be used when you do not have Razorpay account with the email Id that is used for SmartBiz login.
   
   Flow to complete KYC when you do not have Razorpay account with the email Id that is used for SmartBiz login.
3. Choose your Business Type and update your Legal Business Name. Then, click "Create Razorpay Account." 
   
4. You will now have an option to complete KYC by clicking on "Complete KYC".
   
5. You can use your registered email Id or phone number (Details used for SmartBiz) and click on "Next".
   

6. You will receive an "OTP" on your registered email Id or phone number. Enter the OTP and click on "Submit OTP".

7. Please enter PAN Number of your registered business and click on "Continue". Please note, this is mandatory field.
   

8. Please enter the exact name as mentioned in PAN Card and then click on "Continue".
   
9. Please enter your "Brand Name" and click on "Continue"
   
10. Please enter your category under which your business falls. Please make sure to enter the same category that was used while signing up for SmartBiz. Once you select any category, it will ask you to select specific category. Clicking any specific category will lead to a new question "Do you trade under any of the below categories?". Please select the relevant options or If you do not trade in any of the category, you can select "None of the above" and click on "Continue".
    
    
    

11. . Describe your business where you can share details about your business, products and customers - whom you want to sell and how you would like to sell.

12. Add your email Id, so that you can receive updates from Razorpay. Please enter the same email Id used for Razorpay login.

13. You will be asked to review your details. Once you complete reviewing, please click on "Done".

14. You will be required to fill in "Bank details" and "Identity proof". In "Identity proof" you can upload your Aadhar card/Passport/Voter Id front and back sides.
    

15. Once you complete filling all the details, "Submit KYC" button will be enabled. You can click on "Submit button" to complete KYC process.
    
    

    Note: An email from Razorpay will be sent to your registered email Id.

Upon completion, you will see a confirmation page.

Note:

• All features will be activated simultaneously, starting with Debit, Credit cards, UPI, Net banking, and wallets.
• KYC completion may take 2-4 business days.
• All KYC-related updates will be communicated to the registered email ID.

Flow to link existing email Id:

1. You can use your existing Razorpay account to integrate with SmartBiz account. Click on "Link Existing account".
2. Click on "Login". Please enter your existing registered email id or phone number that was used for SmartBiz login.

3. SmartBiz will require access to your existing Razorpay account. Please click on "Authorize".

4. Steps to unlink/deboard Razorpay via desktop application:

1. Log in to your Razorpay dashboard directly (outside of SmartBiz) using the credentials of the Razorpay account you wish to unlink.

2. Navigate to “Account & Settings”, then select “Website & App Settings”.

3. Under “Applications”, find SmartBiz and click “Revoke” to remove its access.
  
4. Log out of the Razorpay dashboard in your browser.
5. Log in to your SmartBiz application.
6. Go to :Settings”, then “Payments”, and click “Log In”.

7. Enter the credentials of the Razorpay account you want to link with SmartBiz.
8. Click the “Authorize” button to connect the Razorpay account with SmartBiz.