Business onboarding & payout

Once a Business accepts an Offer through our customizable widget, we receive instant notification of their acceptance. This triggers a webhook to the Platform, confirming not only the acceptance but also the signing of the contract. This critical step allows the Platform to legally share Personally Identifiable Information (PII) with finmid.

📘

Please read more about our widget here

Sharing of PII and KYB checks

Following the receipt of the webhook, the Platform is required to share the Business's PII with us. We use this information to conduct a Know Your Business (KYB) check, which is essential for compliance and regulatory purposes before any funds can be disbursed.

post Submit Business's KYB data

Payout Initiation

Once the KYB check is successfully completed, we initiate the payout of funds. We support multiple currencies and offer various schemes, including options for instant or daily payouts. This flexibility ensures we can accommodate the specific needs of Businesses across different regions.

The Platform can continuously monitor the status of the Business and the progress of the payout through our API.

get Get Business

In the next section, we will elaborate on the payments from Businesses back to finmid.