MultiSafepay periodically performs reviews of the merchant accounts, to ensure a close relationship with our customers and to maintain the accuracy of their company information in our system. This is required by law, “Law on the prevention of money laundering and terrorist financing”.
MultiSafepay monitors if companies are still active and if there have been no changes in the business model, directors and ultimate beneficial ownership since boarding or the last review.
If there are changes noted during the review, MultiSafepay will contact the merchant via email. Sometimes new documentation needs to be provided, like updated UBO statements or copies of identification documents.
Not responding to our request for new documentation and/or information will results in a pause of your payouts. Never responding to our requests / not willing to comply, can eventually lead to a one-sided termination of the contract.