This information concerns only merchants that receive funds via Payoneer.
According to European payment security standards, only merchants with verified accounts can work and receive funds through the Joom platform.
The verification process involves two steps:
Step One: Joom will check the identity of the Joom account holder. Thus, merchant should provide at least the following documents:
- Business License;
- Legal Representative’s ID;
- Photo of the Legal Representative holding the ID.
Step Two: We ensure that money is transferred to the legal entity that was verified in Step One. This happens automatically by comparing the Registration Number on the Business License (Business License Number) provided to Joom with the Business License Number provided to Payoneer.
Accounts that fail to pass Step One are banned permanently and will receive a letter with the subject line:
- “Joom account block notification”
Accounts that fail to pass Step Two will receive a notification containing further instructions with the subject line
- “ACTION REQUIRED: Business License update is required”;
- “ACTION REQUIRED: Payoneer Account May Be Disconnected”.
Joom launched an automatic verification mechanism. If your Payoneer account information has failed to match with your Joom account information, you will receive a warning letter from Joom. The Business License Number of your Payoneer account and your Joom account must be identical, otherwise Joom is not able to make payment to you. To continue receiving payment, please make sure the Business License Number on your Payoneer account and Joom account are the same.