Getting started with myPOS only takes a few minutes and the process is completed online.
Opening a myPOS Account
Opening a myPOS account is easy and can be done online from the comfort of your laptop, phone or tablet. Simply click on the Sign-up button, visible on the myPOS website or mobile app, and follow the instructions. Here is the information which you will need to fill when onboarding:
Login details - the details that you will use to sign into your myPOS account. Do not disclose these to anybody
- E-mail with which you will sign in
- Password - it must contain at least 8 characters, a lower and an upper-case letter and a special symbol
- Mobile phone number - for urgent communication and verification purposes
- Your personal details - name, last name, date of birth, citizenship and your place of birth
Business details - general information about the activity, address, registered company number and name
- Legal form of your company - as per local corporate law
- Director details - in case you are not a director and are an authorised person, please provide us with a document to verify your authorisation, such as a Power of Attorney.
- What you inted to use myPOS for, what is your main source of income, what is the annual turnover that you forsee, what is the average transaction amount you expect, do you have any websites or other online presence, such as social media profiles or other online directories?
- The referral code box is to be filled if the signup is completed together with a myPOS distributor or if your myPOS device was purchased from a myPOS distributor.
When you accept the general terms and conditions at the bottom of the page, confirm that you have the legal authority to open an account on behalf of the business and confirm that the information provided is valid and truthful. A 4-digit code will be sent to the provided mobile phone number via a text message in order to verify the phone number. The code must then be entered in the “Enter SMS confirmation code” box. Generally, the code should be received within a minute of selecting the box.
Once you complete the signup form, you will receive a confirmation email to the provided email address. Follow the link in the email to confirm your address. Next step - a short online identification in order to verify your identity.
The Identity Verification is a short online identification required in order for myPOS to confirm the merchant’s identity. In accordance with the EU Fourth Money Laundering Directive, all institutions providing financial services are obliged to confirm the identity of a third party before entering into a business relationship. myPOS is legally required to verify every client’s identity.
To streamline the verification process and make it quick and easy for its clients, myPOS has simplified it to a procedure entailing a few steps. Everything a merchant needs to complete the identity verification is a valid passport or a national ID card with a picture. Do note that you will need to present the actual passport or an ID card, not a copy of it.
- An email is sent to the email address provided when creating the account. Open the email and click on the link provided to confirm the registration in myPOS
- Download the myPOS mobile app and start the online identification
- You will be guided through the process of identity verification
- myPOS team will then review the identity document provided and confirm the completion of the identity verification within 72 business hours
Following the Identity Verification process, the merchant will be required to provide legal documents to verify the company’s identity. The documents required are dependent on the company’s legal form.