In addition to the standard KYC documents that are needed in order to obtain approval for a Payments AI merchant account, if selling nutraceuticals, there is a higher scrutiny of the applications to ensure proper compliances are met.
The additional documents required for review include but are not limited to the following:
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Financial Statements
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2 - 4 years of audited Statements (company prepared ok if that is all that is available)
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+ Current year management prepared quarterly statements
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Last 12+ months processing statements
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Shipping timeframes
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Website displays proper disclaimers that products are not FDA approved
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No medical claims
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All ingredients disclosed on website
Uploading these documents at the time of application will help expedite the approval process.
If you have any additional questions, please contact our Support Team by clicking the blue support widget in the bottom right-hand corner of this page or email us at support@payments.ai.