Templates for Documenting Company Ownership Structure, Owners and Directors

In order to become a Paynode member, a company must first go through the KYB process. As a part of that process, the company must provide information about its ownership structure, owners and directors.

Ownership Documentation

Ownership documentation must show who are the ‘ultimate beneficial owners’ (UBOs) and controllers of your company. In cases where there are intermediary entities that sit within the ownership chain of another corporate entity, it is also required to identify individuals who own 10% or more of the company.

We understand companies are structured differently. Please find below the structure that corresponds to your company and download an example of the required document that fulfills your KYB application requirement.

If you use one of these templates, please make sure you include:

Company logo
Company legal name and registered address
Date
Signature

Templates for Download

Company Structure	Recommended Template
Fully or partially owned by another company	Company Structure Template Download.
Owned by more than one owner or shareholder	Shareholder/ownership and Director’s Register Template Download.
Sole owner - owned by one owner	Shareholder/ownership Register Template Download.

Paynode Member Eligibility

Who can become a Paynode Member?

In order to become a member of Paynode, a company must meet all of the following criteria.

Have Avinode and/or Schedaero membership
Be legally registered in a country that is within the permitted jurisdictions
Successfully pass KYB review and vetting by our payment solution providers.

Companies that are registered in countries outside of the permitted jurisdictions are not able to be Paynode Members.

Who is on Paynode? This is the Paynode network.

KYB Country Requirements

In order to join Avinode or become a Paynode Member, a company must first submit their KYB application for review and approval.

The complete KYB form is required for any company legally registered in one of the countries listed below (Permitted Jurisdictions).
For companies registered in a country not listed below, certain sections of the KYB form are optional. These are indicated by a blue information message.

Only companies legally registered in the countries below may become a Paynode member.

Åland Islands	Guernsey	New Zealand
Austria	Hong Kong	Norway
Australia	Hungary	Poland
Belgium	Iceland	Portugal
Bulgaria	India	Réunion
Canada	Ireland	Romania
Cayman Islands	Isle of Man	Saint Martin (French part)
China	Israel	Singapore
Croatia	Italy	Slovakia
Cyprus	Japan	Slovenia
Czech Republic	Jersey	South Africa
Denmark	Latvia	South Korea
Estonia	Liechtenstein	Spain
Finland	Lithuania	Sweden
France	Luxembourg	Switzerland
French Guiana	Malta	Taiwan
Germany	Martinique	United Kingdom
Gibraltar	Mayotte	United States
Greece	Monaco
Guadeloupe	Netherlands

Please note that this list is reviewed and updated periodically.

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Submit KYB to Get Started on Paynode

What is KYB?

KYB stands for "Know Your Business". This is sometimes also referred to as KYC which stands for "Know Your Customer."

The KYB process is a regulatory and legal requirement any time a new bank account, money transfer process or card processing account is set up. KYB is one of many steps we take, together with our payment solution providers, to ensure against money laundering, the funding of terrorism, fraud, and the illegal transfer of funds.

Through KYB, our customers' identification is verified using reliable and independent information and documents. Our customers will also be asked about the nature of their funding activities in order to satisfy that the source of the funds is legitimate.

Because of the payment solutions Paynode offers, successfully completing the KYB process is a prerequisite for each of our members.

How does the KYB process work?

Identify who in your organization can provide the company information asked for in the KYB form and who also has the right to bind the company to the Paynode terms and conditions. This is typically your CFO, Controller, or Owner.
Ask your Account Manager to grant that person access to your company's KYB form.
Input the information and upload the documents required on the KYB form. This includes information about the company's legal registration, bank account(s), ownership structure, registered directors, and payment volumes. You can save your work and come back to this page as needed.
Once the form is complete, accept the terms and conditions and submit the form for review.
Paynode's solution providers then review and validate the information provided. In some instances, you may be asked to provide clarifications or additional documentation.
Once your company has been approved, your Paynode account setup will be finalized.

KYB: New Member Application

Know Your Business or ‘KYB’ is an important compliance process that ensures the verification of corporate entities or businesses. This is required by the payment industry regulations as a prerequisite to business entities being payout.

KYB Form

The form asks questions about the company's:

Legal registration
Owners and registered directors
Bank accounts
Expected payment volumes

Who can see the KYB data and documents?

Access to the KYB form is highly restricted.
Within Avinode Group, only the Paynode staff persons directly responsible for the KYB process have access to the form (this is a tightly controlled and limited group) along with the compliance teams of our payment solution providers.

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