Free Access To Email Exclusive ContentGet notified and be the first to know when new & hot content drops
HomeOnline BusinesssHow To Verify BVN On Paystack And Flutterwave.

How To Verify BVN On Paystack And Flutterwave.

Date:

If you are looking for how to Verify BVN On Paystack And Flutterwave, then this article will help you resolve all of that. At the end of this post, you should be able to easily Verify BVN On Paystack And Flutterwave without having issues.

For safety purposes and to have your account protected, all payment gateways come with one or two verification processes to keep your activities on the platform safe and secure from thefts or scams. 

The introduction of the verification process has boosted the level of customer interaction with the businesses that have it on and in the long run building great customer relationships. 

Generally, this action is geared to serve you better and for these Businesses, in turn, know who they are dealing with or serving which is referred to as KYC (Know your customer). 

Some of the ways businesses use KYC to Know their customer is by using the following methods of verification

  • Email verification
  • Phone number verification
  • Google key Authentication
  • BVN verification

Read Also: Easy Way to Check Bank Verification Number On Your Mobile Phone

This information provides service providers with your data and in turn, helps to secure your account. 

Thus, our focus is on this topic but specifically on a particular payment gateway (PAYSTACK AND FLUTTERWAVE) and a specific verification process (BVN verification), and how you can actually get verified on these Platforms. 

Before delving into the nitty-gritty of the subject matter, let’s take a minute to examine what a payment gateway is, its pros and cons, what’s a BVN verification and lots more. 

 

What Is A Payment Gateway?

Mobile payment gateway/apps are also referred to as Digital Wallets and below is how it works. 

The app is linked to a bank account where the money is, the linked account can be a credit card or debit card which is connected to a bank account and is then used for transactions. There are two reasons why a customer uses mobile payment apps, one of which is the speed of payments and the other is the ease of use.

See also  Afrinvest Vs Meristem: Which Is Better For Stock Trading

 

When you make use of mobile apps for payment, you will cut off every unnecessary stress of always going to a bank or an ATM stand each time you want to send or receive money.

 

Using a mobile payment app provides you with an extra layer of security, plus, your credit card or bank account information is not stored on a website. every piece of information that you provide or link to the app including your credit card number is fully encrypted. 

According to statistics, there are more consumers who have a Smartphone (iPhone or Android) with internet access. This makes the use of mobile payment apps very convenient.

According to this definition and illustration of how it works, PAYSTACK AND FLUTTER WAVE are payment gateway and they have apps as well just like PayPal, Payoneer, and a host of others. 

 

Thus, our focus of this article is to discuss these payment Platforms but specifically on how to verify your BVN using Paystack and Flutterwave payment gateways. 

 

How To Verify BVN On Paystack 

To Verify your BVN using Paystack, the process is to simply complete and upload your identity. The essence is basically for two major reasons. first is to provide the payment gateway with your information which they keep in their records making you a customer and secondly for the payment gateway to identify and be able to provide maximum security for you.

 

The verification process includes 5 basic steps

  • Personal information
  • Business information
  • Verification documents
  • Settlement account 
  • Truecaller verification (optional). 

But before you get to these phases you’ll have to follow due process and steps. Below are the steps to take.

  • First off, visit the website at www.paystack.com and click on create a Free account.
  • Fill out the form by selecting a business name, email address, password, and country of residence.
See also  Paystack Payment Platform - All You Need To Know

The next page pops up for you to introduce yourself. Fill out the forms as well just like you’ve done on the first page. By the time you’re done with this, you might have completed the personal information and the business information phases successfully.   

 

Next would be Verification documents.

This is where you get to verify your BVN. This article will guide you through the process of your BVN verification. 

  • Click on verification documents. This is going to ask you for your BVN in a box provided to fill in the details
  • Type in your BVN
  • Beneath it, is a box asking you to choose what form of personal verification you want to do. For example, voters card, National identification card, Driver’s license, etc. Select the document you have at your disposal.
  • Next, upload the documents and then save them.

Learn how to link your NIN to your mobile phone

You’ve just successfully submitted your BVN for verification on Paystack. 

  • Next below the phases of verification is the settlement account, here you fill in the bank details you want to use to receive funds for transactions. 
  • Next to that, is the Truecaller verification which is actually optional to do. 

 

How to verify BVN On Flutterwave. 

The process is quite similar to Paystack. First thing is 

  • Visit the website at www.flutterwave.com and click on the signup button 
  • Fill in the form provided asking for your name, email address, business name, country of residence, and referral code 
  • Click on get started
  • A confirmation email will be sent to your email. Follow through with the link to verify your email. And continue with the registration.
  • Choose the purpose of your account. Two options are available. Business or Non-profit. Pick an option and click on continue. 
  • A question pops up, asking you, how are you planning to use Flutterwave. Select from any of the four options provided. (a) to create a store and sell my products (b) to collect payment on my website (c ) to send invoices and payment links to my customer (d) to collect or donate money for a cause. Select your intended purpose or you can skip this step. Then click on continue.
  • The next page presents you with a dashboard. A message will pop up asking you to provide information to get your account fully verified. Click on get started.
See also  Home Business — 15 Lucrative Business Ideas You Can Start From Home

 

Right before you click to upload documents for verification, click on settings on the dashboard to add your bank details first before you complete the KYC. To do this.

 

  • Click on settings and you’ll see the following on the dashboard. 
  1. Profile
  2. Business preference
  3. Settlement account
  4. Team
  5. Permission
  • Click on the settlement account. You’ll see a short note indicating that you have no settlement account. Click on the add bank account.

After uploading your (KYC) Know your customer documents, which obviously include your BVN. You’ll receive a confirmation between 24hrs- 72hrs that your KYC documents have been approved. 

 

Summary

Due to the high rate of cyber crimes, security is a top prerequisite for all businesses. It’s crucial for a business to know their customer for effective engagement and business relationship between the firm and the business. Hence the introduction of the KYC to help businesses and at the same time protect customers. 

Among these methods, we have the KYC by BVN verification which we have discussed in this article.

There you go, every detailed information you need to know about how to verify your BVN using Flutterwave and Paystack payment gateways is handed to you. 

 

Free Access To Email Exclusive ContentGet notified and be the first to know when new & hot content drops

Trending

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recommended for you

Free Access To Our Email Exclusive ContentIn investing, what is comfortable is rarely profitable.

Join thousands of subscribers benefiting from our exclusive premium content on savings, investing, small business, marketing, real estate, e-commerce, and logistics.