Setting Up Zoho Payments
Setting up your Zoho Payments account is an easy and straightforward process. Read on to know how to create your account.
Note: Zoho Payments is currently in early access and is available only to a few existing users of applications such as Zoho Books, Zoho Invoice, and Zoho Inventory. If you use the above mentioned apps and would like to access Zoho Payments, please drop us a line at support@zohopayments.com.
Prerequisites
Before you get started with Zoho Payments, here’s what you’ll need:
- A device with a stable internet connection and the latest web browser.
- A bank account of your choice whose base currency is INR.
- The basic details of your business (registered in India).
- The details of the business owners and authorised personnel (business representatives).
Create a Zoho Payments Account
Create an account with Zoho Payments to start collecting online payments from customers. You’ll only need to do this once and enable it in your business application.
To create a new account:
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Go to your Zoho Finance organisations. This can be a Zoho Books, Zoho Invoice, or Zoho Inventory organisation.
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Go to Settings > Online Payments.
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Go to the Customer Payments section, where Zoho Payments will be listed as the Preferred Gateway.
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Click Set Up Now and an onboarding form will open up.
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Fill in the details in the sections to get started. Most of them are basic business details which a legally authorised representative should have access to. If you’re not sure what they are or where to get them, please read below.
- Business Profile
- Business Representative
- Business Owners
- Branding and Public Information
- Bank Account
- Review and Submit Details
Read and accept the terms and conditions, and a new Zoho Payments account will be created.
Business Profile
Enter the basic details of your registered business in this section. Ensure that the details you provide here match your legal documents. This section has the following fields:
Business Type
Tell us if your Business Type is Individual, Company, or Limited Liability Partnership. Depending on the business type you’ve chosen, the information we collect for creating and verifying your Zoho Payments account will vary.
Insight: If your business is not registered yet, the Business Type will be Individual.
Warning: Ensure you provide the correct details as you cannot change this setting from the application once you create your account. You can contact support@zohopayments.com if you want to change your business type and initiate the verification process once again.
Trade Name
This is your “Doing Business As” name, under which your business operates and is commonly known.
Business PAN
The Business PAN is an 8-digit permanent account number assigned by the tax authorities to businesses operating in India. This number is essential for tax filing your business’s financial operations.
Goods and Services Tax Identification Number (GSTIN)
GSTIN is a unique 15-digit alphanumeric code assigned to businesses registered in India’s Goods and Services Tax (GST) system to identify your business and tax purposes.
Corporate Identification Number (CIN)
A CIN is assigned to Indian companies upon registering under the Companies Act 2013. This serves as a key reference in identifying and verifying your company details.
Limited Liability Partnership Identification Number (LLPIN)
LLPIN is a 7-digit alphanumeric code provided by the Ministry of Corporate Affairs at the time of registering your limited liability partnership.
Registered Business Address
The officially registered physical location of your business. This address is the same as what you’ve provided in your registered documents and is used for official correspondence. Enter your complete address including the Address, State, City, and PIN Code.
Note: Ensure the business address you’ve provided is in India.
Business Phone Number
The registered phone number used for business communication.
Industry
The industry under which your business falls.
Business Website
Provide your website’s link or a link to your business’s social media page.
Business Description
Provide a brief description of the nature of your business, what you do and anything else you’d like us to know about your business operations.
Anticipated Transaction Values
Tell us approximately how much you plan to process through Zoho Payments. This provides an insight into your expected usage of the platform.
Average Value Per Transaction
Specify the average amount per transaction you intend to collect using Zoho Payments.
Maximum Value Per Transaction
Enter the maximum amount you expect to receive in a single transaction through Zoho Payments.
Expected Annual Transaction Value
Provide the anticipated total transaction amount you will process through Zoho Payments annually.
Upload Documents
Zoho Payments requires you to upload your business related documents to verify your business details.
- PAN Verification: Upload the PAN card for the number provided above.
- Business Details Verification: Based on your chosen business type, you will be required to upload documents for verification.
| Business Type | Documents |
|---|---|
| Company (upload any 2) | Certificate of Incorporation, Memorandum and Articles of Association, Board Resolution, Shareholding Pattern. |
| Limited Liability Partnership | LLP Agreement, Partnership Deed. |
Note: Each file must be under 5 MB in PDF, PNG, JPG, or JPEG formats.
Business Representative
A business representative is usually the user who creates and accesses the Zoho Payments account. The representative should be an authorised person who is engaged in the direction and control of the business.
Insight: If the business is owned and controlled only by a single person, i.e., the business type is Individual or Sole Proprietorship, then provide the details of the owner.
Ensure you provide the following details of the representative as stated in their legal documents:
- First and Last Name
- Email Address
- Date of Birth
- Phone
- Permanent Account Number (PAN)
- Aadhaar Number - Enter your Aadhaar number and verify it with an OTP sent to your registered mobile number.
- Residential Address
- Ownership Percentage - If the business representative is also the business owner, check the option This person is a business owner and enter the ownership percentage.
Note: It is mandatory to check this option if this representative owns 10% or more of the company’s share.
Upload Documents
Zoho Payments requires you to upload your business representative’s documents to verify their details.
- PAN Verification: Upload the PAN card for the number provided above.
- Address Verification (upload any 2):
- Driving Licence
- Voter ID
- Passport
Business Owners
Note: This section is applicable only for those who’ve chosen Company, or LLPs as their Business Type.
Provide the details of users who hold significant ownership in your business. If the business representative is also a business owner, the details for one owner will be automatically populated.
Enter the following details as stated in all legal documents:
- First and Last Name
- Email Address and Phone
- Date of Birth
- Permanent Account Number (PAN)
- Ownership Percentage (It is mandatory to provide the details of businesses who own more than 10% of the business.)
- Residential Address
Upload Documents
Zoho Payments requires you to upload your business representative’s documents to verify their details.
- PAN Verification: Upload the PAN card for the number provided above.
- Address Verification (upload any 2):
- Driving Licence
- Voter ID
- Passport
Note: You can click Add Another Document and upload any two documents in this section.
You can add more owners by clicking Add Another Owner and remove owners by clicking Remove near the owner details.
Branding and Public Information
This section displays the details that are visible to all your customers in their transaction receipts and bank statements.
Payment Descriptor
A Payment Descriptor (sometimes known as a statement descriptor) is the name that helps customers identify the transaction with your business (their payment to you) in their bank/card statements.
The payment descriptor you create must match your Business Name, Trade Name, or Website Domain name.
Insight: The descriptor can have 5-22 alphanumeric characters, and cannot contain special characters such as <, >, \, ‘, “,  *.
Customer Support
Provide a support helpline that customers can use to contact you. This detail will be included in the emails sent to your customers.
Bank Account
In this section, provide your bank account details so Zoho Payments can use them to deposit your payouts. Make sure that the bank account you add is a current account.
Account Holder Name
The name of the account holder.
Account Number
Your bank account must be a current account with a 12-digit account number.
Indian Financial System Code (IFSC)
IFSC is a 11-digit alphanumeric code used to identify specific branches in India.
Insight: During account verification, you might be requested to submit additional details, such as a cancelled check or bank statement, to verify your bank account.
Review and Submit Account Details
You can review and edit the provided details if necessary. Once done, check the box to agree to the Terms of Service and Privacy Policy of Zoho Payments and click Submit.
