In today's fast paced world, businesses are moving from a physical environment to an online presence to accomodate customer needs and to cut overheads. Hence merchants see the need to set up an e-commerce store and accept online payments from their customers through an online payment gateway.

• Customer is contacted by RAKBANK sales team
• Provide all the necessary documentation
• Provide all company details for KYC and due diligence
• Fill the Merchant Application Form
• Bank checks the eligibilty to provide online payment gateway
• Merchant is approved
• Bank support team contacts merchant for activation

Connect with our team at smesouk@rakbank.ae for more information and to get started with the application process

Following documentation should be collected:

Documentation

• Valid Trade License Copy
• Passport, Visa & EID copies of all partners, sponsors & POAs holders
• Memorandum of Association in case of LLC companies along with all past amendments
• Special POA copy of establishment license of single owner
• Bank account statement with IBAN number (not required for RAKBANK account)
• Tax Registration Certificate (TRN) for TAX Invoice
• Business photo
• Website address
• A cheque in favor of RAKBANK (in certain scenarios)

Contact Details

• Complete business physical address
• Business contact numbers and mobile number
• P.0 BOX #
• Contact person with mobile number & email address

Form

• Merchant Application Form