Yes, to accept your payment, your vendor will need to create a Fincent account and complete a verification process. 

Fincent partners with Stripe and Plaid for secure payment processing and bank account authorization, respectively, and they both require some information about the person or company receiving funds.

• Data we share with Stripe for verification may include information about your vendor’s business’s legal entity and personal information about their business representatives and those who own or control it. 

• We also authenticate the bank account your vendor will use to receive payments

• Verification is usually instant, but we may require additional information in some cases, such as a scan of a valid government-issued ID and/or proof of address. If so, Fincent alerts your vendor. 

• We only support payments within the United States. Vendors must be registered entities in the USA with a US bank account to receive payments. 
  
  Note: You must be on one of our paid plans to make payments in Fincent.