Frequently asked questions while onboarding on Kora

What is Kora about?
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Kora is a licensed payment infrastructure provider helping businesses like yours collect and disburse payments across Africa, quickly, securely, and at scale.

With one integration, you can accept payments from customers in Nigeria, Ghana, Kenya, South Africa, Cameroon, Côte d’Ivoire and Egypt. We also offer:

• Collections & Payouts in local currencies
• Identity Verification for KYC and onboarding
• Virtual USD Cards for global spending or issuing to your users
• A simple dashboard to manage all transactions in one place
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  ​How do I create a Kora account?

Creating an account on Kora is free, easy, and fast (can be done in five minutes). All you need to do is:

1. Click on the ‘Create Account’ button on the website or click on this link.

Fill in the required details:

• First and Last Name
• Business Name
• Business Email
• Business Address
• Country of Business Registration
• Phone Number
• Password
• How you hear about us

2. Agree to our Merchant Service Agreement and click on ‘Create Account’. A verification link is sent to your email to verify your email address
3. Once you’ve successfully verified your email by clicking on the verification link.
4. Voila!, you’ve successfully created an account on Korapay.

Here's a video on how to create a Kora merchant account:  https://youtu.be/XmUj44fz6lo
 

POST-SIGN-UP QUESTIONS AND ANSWERS:

How do I access the dashboard after creating an account?

Once you’ve successfully created an account on Kora, you’ll be asked to select your Business Type after which you’ll have access to the dashboard. However, you’ll only have access to the test environment on the dashboard until your business is verified. You’ll be able to play around with Test Payment Links, Test keys for integration, and every other section on the dashboard but in Test Mode.

How do I know my business type?

You’ll be required to select your business type immediately after signing up and successfully verifying your email. We ask for this information to enable us to tailor your experience on Kora based on your business type. We group businesses into 3 main types:

Individual: you’re categorized as an individual if you have a business but it is yet to be registered or yet to apply for the necessary business licenses and you want to receive payments. Kindly take note that you may be required to provide further documents based on your business type.

Registered Business: as a registered business, you have a business that is registered. You can either be a Small & Medium scale Enterprise or Non-SME (a much larger corporation).

NGO: as a registered Non-Governmental Organisation, you can accept payments and receive payments via our payments gateway.

How can I activate my business?

Activating your business on Kora involves providing some information and documents to verify the legitimacy of your business. This includes, but is not limited to, a valid business license, tax registration certificate, and proof of ownership. Once your information has been reviewed and approved, your business will be enabled for live transactions.

How can I activate my business as an Individual?

Activating your account as an individual on Kora is a 2-step process.

Step 1: Creating your profile

To create your profile, you will be required to provide information such as your full name, date of birth, contact information, and other relevant details.

Step 2: Verifying your identity

To verify your identity, you will be required to upload documents such as a government-issued ID, passport, or driver's license.

Please ensure that the information and documents you provide are accurate and up-to-date. Once your information has been reviewed and approved, your account will be activated and you will be able to use Kora services. To submit your information and documents, please visit our website and follow the instructions provided.

How can I activate my business as a Registered Business?

Activating your account as a Registered Business on Kora is a 3 step process (depending on your Registered Business Category). As a registered business, you can either be an SME or a Non-SME. As an SME, there are 3 sub-categories:

• Sole Proprietor
• Limited Liability Company
• Limited Partner

Sole Proprietor: First, you would be required to provide some more information about you to form your profile (Business Profile), and then you’ll be required to upload some documents to verify your identity (Business Documents).

• Required Business Profile information:
• Business Address
• SME Category (Sole Proprietor)
• Business Website/social media handles

Business Documents:

• Valid ID (All Government issued IDs except NIMC)
• Business name Registration Certificate- CAC BN1
• Proof of Address (Utility bills such as Electricity bills, Waste bills, Internet Service Provider bills, etc; Statement of Account; Rent Agreement)
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Limited Liability Company or Limited Partner: First, you would be required to provide some more information about you to form your profile (Business Profile), and then you’ll be required to upload some documents to verify your identity (Business Documents). Lastly, you’ll be required to provide information about the business representatives (Business Representative Information).

Required Business Profile information:

• Business Address
• Business Description
• SME Category (Limited Liability Company/Limited Partner)
• Business Website/social media handles
• Business Documents:
• Certificate of Incorporation
• MEMART
• Proof of Address (Utility bills such as Electricity bills, Waste bills, Internet Service Provider bills, etc; Statement of Account; Rent Agreement)

Business Representative Information:

• Full Name of Business Representative
• Position of Business Representative
• Valid ID (All Government issued IDs except NIMC)

Non-SME: First, you would be required to provide some more information about you to  form your profile (Business Profile) and then you’ll be required to upload some documents to verify your identity (Business Documents). Lastly, you’ll be required to provide information about the business representatives (Business Representative Information)

Business Profile information for:

• Business Address
• Business Description
• Industry
• Business Website/social media handles (optional)

Business Documents:

• Certificate of Incorporation
• MEMART
• Proof of Address (Utility bills such as Electricity bills, Waste bills, Internet Service Provider bills, etc; Statement of Account; Rent Agreement)

Business Representative Information:

• Full Name of Business Representative
• Position of Business Representative
• Valid ID (All Government issued IDs except NIMC)

How can I activate my business as an NGO?

Activating your account as an individual on Kora is a 3 step process. First, you would be required to provide some more information about you to form your profile (Business Profile) and then you’ll be required to upload some documents to verify your identity (Business Documents). Lastly, you’ll be required to provide information about the business representatives (Business Representative Information).

Business Profile information:

• Address
• Registered services
• Incorporated Trustee Category

• NGO

  - Religious Organizations

  - Clubs/Societies

Business Documents:

• Certificate of Incorporation
• Approved Constitution
• Proof of Address (Utility bills such as Electricity bills, Waste bills, Internet Service Provider bills, etc; Statement of Account; Rent Agreement)
• SCUML Certificate
• Anti-Money Laundry (AML) Policy

Business Representative Information:

• Full Name of Business Representative.
• Position of Business Representative.
• Valid government-issued ID (excluding NIMC)
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How long is the Business Activation process?

The Business Activation process takes approximately 24 to 48 working hours after you submit the required information. You will receive feedback from the Compliance team via email.

How do I upgrade my Business Type after I’ve gone Live?

To upgrade your Business Type after going live, you'll need to provide your certificate of incorporation with other licenses that may pertain to your type of business. Contact support@korapay.com for more information on this process.

How do I know the status of my document verification after submission?

To check the status of your document verification, log in to your dashboard and look at the status at the top left of the page. The status can be either "Verification in Progress" or "Verify Your Account".

Verification in progress: This means that your documents are being reviewed by the Compliance team and you will receive feedback via email.

Verify your account: this means that you need to provide your documents for review. Click on this status to be directed to the page where you can upload the necessary documents to be approved to use the platform. For further information, email support@korapay.com.