Activating Debit & Payouts
The money-movement features, your balance, sending money, payout links, payout requests, and linked accounts, all run on Paysio Debit & Payouts.
In sandbox mode these are on from the start. A sandbox Debit & Payouts account is set up for you the moment you create your workspace, so you can pull test debit payments and send test payouts right away without applying for anything or entering any keys.
Going live is what needs an application. Because live features move real money, Paysio has to verify your business first. Anywhere a live feature is locked, you will see a Connect button that brings you to the application.
What the application covers
The application is an online form you fill in step by step. It collects the standard information a financial provider needs to verify a business:
- Business details: your legal business name, structure, and registration.
- Business profile: what your business does and its industry.
- Address and tax: your business address and, for US businesses, your EIN (Tax ID).
- Banking: the bank account for your business, with its routing and account numbers.
- Processing volume: how much you expect to process and pay out.
- Returns and risk: a few questions about your risk profile.
- Owners: details for the primary owner (name, date of birth, SSN or SIN, title, and ownership percentage) and, if applicable, an additional owner.
The form ends with a Review and submit step where you can check everything before sending it.
What to have ready
Because it is a form rather than a document upload, you mostly need the information at hand rather than files. Before starting, gather:
- Your legal business name, structure, and registration date.
- Your EIN (Tax ID) if you are a US business.
- Your business bank account routing and account numbers.
- Your rough expected processing and payout volumes.
- The owner details, including each owner's date of birth and SSN or SIN and their ownership percentage.
Your progress is saved as a draft as you go, so you can leave and come back without losing what you entered.
Submitting and review
When you submit, your production (live) account goes under review. Paysio's team reviews the application and provisions the live account for you.
You see an "Application submitted" confirmation explaining it is under review. Once approved, your live account is activated and you can start sending real payouts with no code changes. You are notified by email when it is ready.
Nothing about your sandbox changes while you wait. It was ready before you applied and it keeps working the whole time, so you can carry on building and testing.
Apply links
Sometimes the person with the business and owner information is not the one running the Paysio dashboard, for example a business owner or finance contact. For that, the application can be completed from an apply link, which opens the same form without needing to log in to Paysio.
Whoever has the link fills in the details and submits. The page shows your business's branding, and once done they can simply close it. Paysio follows up by email when the account is ready.