Store Verification & Business KYC
Complete identity verification to unlock unlimited payouts and compliance badges
Why is Verification Required?
Under Nigerian financial compliance regulations (CBN, NFIU) and anti-money laundering (AML) laws, payment processors and multi-tenant platforms must verify the identity of merchants collecting public funds.
Beyond legal compliance, verified Teyweb stores receive high-trust benefits:
Key Takeaways
- Unlocked automated bank payouts with zero settlement delays
- Removal of provisional monthly transaction volume caps
- A "Verified Merchant" trust badge displayed on your storefront checkout
- Access to high-tier features like Custom Domains with automated SSL
Verification Tiers & Documents
Depending on whether you operate as an individual vendor or a registered enterprise, submit the corresponding documentation:
| Business Type | Identity Verification | Business Registration | Address Proof |
|---|---|---|---|
| Registered Company (Ltd / PLC) | Government ID & BVN/NIN of a Primary Director | CAC Certificate of Incorporation + Status Report | Recent utility bill (under 3 months) or office tenancy agreement |
| Registered Business Name (BN) | Government ID & BVN/NIN of the Sole Proprietor | CAC Business Name Registration Certificate | Utility bill showing registered operating location |
| Sole Proprietor / Individual Merchant | National ID (NIN Slip), International Passport, or Driver License | Tax Identification Number (TIN) where applicable | Residential utility bill, bank statement, or waste bill |
Acceptable Document Guidelines
To ensure your application is approved on the first review, adhere strictly to these formatting standards:
File Formats & Resolution
Upload PDF, JPG, or PNG files only. Maximum file size is 5MB per document. Ensure all four corners of the document are visible with zero blurriness or glare.
Government Identity Cards
Valid documents: Nigerian National Identity Card (NIN Slip with verifiable QR code), International Passport data page, Voter Card, or Driver License. Expired IDs are strictly rejected.
Proof of Address
Utility bills (IKEDC, EKEDC, water board, waste management) or formal bank account statements dated within the past 90 days. The name or address must match your registered store details.
How to Submit Your KYC
1. Log in to your merchant dashboard at app.teyweb.com.
2. In the sidebar, click Verification (or navigate to Settings > Store Verification).
3. Fill in your Legal Business Name, CAC Registration Number (RC or BN), and Registered Business Address.
4. Upload your business certificate, director identity document, and proof of address.
5. Enter the Director or Proprietor's 11-digit Bank Verification Number (BVN) or National Identity Number (NIN) for instant biometric name verification.
6. Review all entered information and click Submit Verification Application.
Data Privacy & Cryptographic Security
Your BVN/NIN is strictly used for 1-time identity confirmation via licensed verification partners (Dojah / Identitypass). Teyweb never stores your private BVN details or shares them with third parties.
Review Timelines & Approval States
Applications are reviewed by our platform compliance team in the order received. Standard review time is 24 to 48 business hours (excluding weekends and public holidays).
You can monitor your live status directly from the Verification dashboard tab:
| Status Badge | Meaning | Storefront Impact |
|---|---|---|
| Unverified | Verification documents have not been submitted yet | Store operates under trial limits; payouts require submission |
| Pending Review | Documents submitted successfully; compliance review in progress | Normal store operation; changes locked during review |
| Verified | All documents authenticated and approved | Full payout capability, custom domain unlocked, trust badge active |
| Rejected | One or more documents failed validation or were unreadable | Action required: Review compliance rejection notes and resubmit |
Troubleshooting Rejections
If your verification is rejected, don't worry. The compliance officer will include an explicit rejection note explaining the exact issue (e.g. "Utility bill is older than 3 months", "CAC certificate was cropped").
Simply update the flagged document and click "Resubmit Application". Resubmitted applications receive priority re-review within 24 hours.
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