Being able to offer online payment options to customers and accept online payments is critical to running a successful online business. SmartBiz by Amazon provides you with a simple mechanism to set up a payment process for your e-commerce website with Razorpay. However, before you can start accepting online payments, you need to complete your Know Your Customer (KYC) process.
It is essential for you to complete this process because only then will you be able to set up a payment process and receive online payments against sales made on your online store. Until then, you can receive orders up to a maximum transaction value of ₹15000 only but your payments won’t be credited to your bank account and your customers might also experience payment issues. This is a major trust-buster for any online shopper. Therefore, you must complete your KYC process as soon as possible.
How to complete your KYC for setting up a payment process with Razorpay on SmartBiz?
To complete your KYC, you’ll have to:
- Go to ‘My Profile’ on your SmartBiz account dashboard
- Click the ‘Manage Payment’ button
- Finish setting up your Razorpay account
- Click on ‘Complete KYC with RazorPay’ to enable the payment process set-up
- Check your registered e-mail ID for KYC login details
- Click on the link received on your registered e-mail ID with Razorpay and change your Razorpay account password
- Return to the SmartBiz app, and click on ‘Complete KYC with Razorpay’ to enable the payment process
- You will be redirected to the RazorPay dashboard on the Razorpay website
- Enter your banking details such as name of bank, bank account number, and IFSC code on the Razorpay website
- Submit KYC documents* as per the type of business
- Click on ‘Save and Continue’
*NOTE:
For documents required for KYC verification as per the type of business, click here.
With this, you have successfully enabled your KYC payment gateway. You will have to wait up to 72 hours for your KYC to get approved. Until then, you can only receive orders of up to ₹15,000.
You can log in to RazorPay to manage your financial transactions and payments dashboard.
That’s how simple it is to complete your KYC with Razorpay on SmartBiz. Download the SmartBiz app and start your online store today!
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