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: We determine who is using the Joom account by collecting from the merchant and verifying 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”; or
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” or “警告：必须更新营业执照”;
- “ACTION REQUIRED: Payoneer Account May Be Disconnected” or “警告：派安盈账号或被解绑”.
An automatic verification mechanism will be launched after the first payment in September. Before then payments will be made in the usual manner. If a preliminary check shows that your Payoneer account information has failed to match, you’ll receive a letter at your primary email address containing the Business License Number verified by Joom.
After the first payment, the automatic check will release the Payoneer account and Joom will be unable to transfer money for your orders. To continue receiving funds, you will need to link the Payoneer account to the matching Business License Number.