Merchant registration & account changes

Technical requirements to use the app

To download and/or use the Klearly app, the following technical requirements apply:

• The device must have a stable internet connection either via Wi-Fi or SIM.
• The device must have location sharing enabled.
• The device must have developer options disabled.
• While the app can be downloaded on any iPhone, it can only be used by iPhone XS or later according to this Apple statement. See this overview for a chronological timeline of the different iPhones.
• The device must have NFC enabled. This setting is only visible on Android. It is assumed that Apple iPhone XS and later versions always have NFC enabled.

Merchant registration

Supported merchant countries

The Klearly app is currently only available for registered businesses in the following countries:

• The Netherlands
• Belgium
• Germany
• Italy

Prohibited and restricted businesses

There are certain businesses that we do not support. For more information see chapter 9 and 10 of Customer Due Diligence (CDD) Policy

Registration requirements

KYC is the process of identifying and verifying the client’s identity and purpose of the business relationship.
Klearly has a contractual obligation to help Rapyd Europe meet their legal KYC obligations by collecting and reviewing merchant information before it is submitted to Rapyd.

In order to have an account approved with us, the merchant must meet the following criteria:

• The merchant must have a valid company registration from one of the supported merchant countries. We do not accept private individuals or deregistered companies;
• The merchant’s activities must be clear and not be on the prohibited list;
• The user that registers the business must be legally allowed to act on behalf of the business and be registered in the company register as such. Examples are owners, partners, directors and authorised signatories.
• A valid IBAN of which the name matches the business name. (Only exceptions are sole traders that can use a private bank account).
• A valid copy of ID of the person registering on behalf of the business.
• Klearly must gain insight into the control and ownership structure of the business.
  Klearly will try to derive this from publicly available sources but may reach out to the merchant directly for additional information if necessary.
  KYC will sent an e-mail, always ask the merchant to respond to that e-mail.
• The merchant must answer any additional questions that may be asked by Rapyd Europe via Klearly.

Registration data points

The below data points, as encountered during registration in chronological order, is all the information the merchant needs to provide when creating an account with us:

1. E-mail address
2. Consent to terms of service and privacy policy
3. Verification code is send to e-mail of user.
4. Password
5. Phone number (ideally a mobile phone number)
6. Company registration number (most reliable) or company name
7. Select desired business trade name (if applicable)
8. Confirm/change company registration address
9. Select industry category
10. Provide description of products/services
11. Select default VAT-rate
12. One of three options which depends on the company:
    • Confirm/edit personal details that were automatically extracted from the company register.
    • Select a profile in case multiple profiles were extracted.
    • Manually add a profile.
13. Add home address (of user):
    • Either select “same address as my business address” if applicable, or add manually.
14. Select average monthly volume from drop-down list of:
    • Just starting
    • Less than €1000
    • €1000 - €5000
    • €5000 - €10.000
    • €10.000 - €50.000
    • More than €50.000
15. Select average transaction amount from drop-down list of:
    • Less than €5
    • €5 - €25
    • €25 - €50
    • €50 - €250
    • €250 - €1000
    • More than €1000
16. IBAN
17. Select payout schedule from a drop-down list of:
    • Daily (only on working days)
    • Weekly, on Thursday
    • Monthly, on the 1st of the month
18. Confirm to the tri-partite agreement between Rapyd, Klearly and the merchant.
19. Perform 2-phased ID-verification:
    • ID-scan
    • Selfie

Completing step 19 completes registration.

Account approval

In general, Klearly aims to process all applications within 2-3 working days. 

Account changes

As the Klearly app is still under development, the merchant is not yet able to make any changes to their company details once they have completed onboarding. The merchant must contact customer service.