By activating the Lano wallet in your account, you enable payments to partners in over 30 currencies and 180 countries in the world.
Step 1: Go to Payments and select “Start” in the bottom left corner to use this payment solution.
Step 2: Go through the standardized KYB compliance process. To complete this step, you will need to provide the regulatory data needed for opening up a bank account as a company. If some documents are missing, the information you entered will be saved on the Lano platform and you can continue the process and submit missing documents later.
Standard required information includes:
Personal details (contact details, proof of identity)
Business details (VAT number, Company Incorporation Document, Company Registry Document, Company Financials, Company Shareholder Certificate)
Directors’ details to comply with anti-money laundering regulations (directors’ personal details and proof of identity)
Ownership structure (details of all individuals who, directly or indirectly, own more than 25% of the company)
Account usage (account type, base currency, monthly payment value, the estimated number of payments per month, destination of payments)
Account profile (select users that will be authorized to make transactions and give payment instructions)
Step 3: Our payment service providers will process the submitted data. This process might take up to 72 hours. We will notify you if:
you have successfully completed the compliance process
you need to provide additional information
your request has been denied on compliance grounds
Step 4: As soon as our payment service provider confirmed that you have successfully passed the KYB verification process, your Lano wallet is created on our platform and you can start using it.