What it means for a research store
Payment providers are required to know who they are paying. For a merchant, that means verifying the legal entity, its registration and tax identifiers, the beneficial owners and directors, a bank account in the business’s name and sometimes proof of address. Providers may ask for documents and re-verify later.
KYC is separate from underwriting: KYC establishes who the merchant is, underwriting decides whether the provider wants the business and on what terms. Both can delay a launch if documents are inconsistent, for example if the business name on the bank account does not match the registration.
Prepare a folder before applying: entity documents, EIN or equivalent, owner IDs, a bank letter or statement, and the live website with policies. Use exactly the same legal name and address everywhere.
How Torva OS handles it
With Torva OS, Stripe’s embedded onboarding runs inside the Desk, so identity and bank verification are completed with Stripe directly and the Desk shows the account status Stripe returns.
Related guides
Updated September 25, 2026. General information for merchants, not legal, tax or financial advice. This glossary does not describe the use of any compound in people.
