Local and Global accounts are designed for business payments. Payments from other registered companies are allowed by default, and prior approval is not needed.
Payments from individuals are more restricted, but we do support this for businesses in industries where it's a normal part of doing business.
Which industries can receive payments from individuals?
Businesses in the following industries can currently receive payments from individuals as part of their standard account setup:
Travel and Transportation
Education or Learning
Retail, Wholesale or Manufacturing
If your business falls into one of these categories, this will be confirmed for you as part of onboarding.
If your industry isn't on this list
If your business isn't in one of the industries above but you have a genuine need to receive payments from individuals, get in touch with our support team.
We review these on a case-by-case basis, based on your business type and the nature of the payments involved. We are also exploring the expansion of this offering to wider industries.
Keeping your account in good standing
If your business is approved to receive payments from individuals, we may occasionally ask for more information about the person who sent a payment. This helps keep the platform safe for everyone and avoids disruption to your account.
Have questions about eligibility? Contact product.support@vertofx.com.