Here are the requirements to become a Maya Pay in 4 merchant
MAYA PAY IN 4 – This article will teach you about the list of requirements that you need in order to become a merchant of this loan product.
A Maya Pay in 4 is one of the loan products offered by Maya Bank, Inc. It lets you pay for services and goods in a total of 4 installments due every 2 weeks with as low as 0% interest using your Maya Wallet.
This loan product encourages your customers to shop more thanks to its friendly installment terms. Because of this, this loan product allows you to minimize depreciation and warehouse costs, achieve a high inventory turnover, and increase your basket size, transaction rate, and conversion rate.
As a merchant, you will receive merchandising materials from the fintech company and brand features in the Maya Pay in 4 website. In addition, your relationship manager will walk you through the full details of the support Maya will provide.
But what do you need to become a merchant of this loan product?
If you’re an existing partner merchant, you need a signed Maya Pay in 4 Merchant Agreement. But if you’re a new merchant, here is the list of requirements that you need:
Sole Proprietorship or One Person Corporation:
- Mayor’s Permit/Business Permit
- BIR Certificate of Registration
- Bank Certificate or Bank Statement
- Client Application Form
Partnership:
- Mayor’s Permit/Business Permit
- BIR Certificate of Registration
- Bank Certificate or Bank Statement (SOA)
- SEC Registration
- Articles of Partnership
- Client Application Form
Corporation included in the Top Corp List or listed in the Philippine Stock Exchange (PSE):
- BIR Certificate of Registration
- Valid POI of Authorized Signatory. Corporate Secretary, Ultimate Beneficial Owner
- Bank Certificate or Bank Statement (SOA)
- Client Application Form
Corporation not included in the Top Corp List or not PSE Listed:
- Mayor’s Permit/Business Permit
- SEC Registration
- BIR Certificate of Registration
- Valid POI of Authorized Signatory, Corporate Secretary, Ultimate Beneficial Owner
- Secretary’s Certificate or Partner/Board Resolution
- Bank Certificate or Bank Statement (SOA)
- Client Application Form
Keep in mind that the turnaround time for each application depends on the completeness of your requirements and the signing of the agreement. However, applications from existing partner merchants may take 5-15 business days to finalize.
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