Merchant Onboarding

Sticitt Pay - FICA information and documentation requirements as part of the Merchant onboarding process

The Financial Intelligence Centre Act (FICA) requires Sticitt to verify the identity of the Legal Entity in whose name the Sticitt Pay Account will be opened, as well as the identities of all beneficial owners, controlling persons, and authorised signatories associated with the Legal Entity.

As referenced in the Merchant Agreement and Sticitt’s internal policies, Sticitt reserves the right to stop all services if any information or documentation as per the below is not provided or verified. Sticitt also reserves the right to request certified copies of any documentation and to perform a site visit as part of the onboarding process.

Submission Requirement: All documentation must be sent to success@sticitt.co.za

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Merchant Eligibility and Required Agreements

Sticitt only accepts two categories of Merchants:

1. Accredited education institutions operating in South Africa (“AEI”), or
2. Entities operating within AEI campuses or approved by and providing goods and/or services to students and/or parents of such AEI.

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All new Merchants must provide the following baseline documentation as part of applying for a new Sticitt Pay Merchant account:

1. Signed “Merchant Commercial Terms of Use”: This includes the Merchant agreeing to Sticitt’s “General Merchant Terms of Use” available at sticitt.co.za. Note: The signing party must acknowledge that they will not capture any cardholder data.
2. Signed “Sticit Pay - Bank Card transaction addendum” (if applicable).
3. Entity Validation Documentation: Specific documentation required based on the entity type (detailed below).

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Entity Validation Documentation Requirements

Sole Proprietor (Individual)

A sole proprietorship is a sole trader, a business owned and run by one person. We require the following documents:

1. ID Copy.
2. Proof of Residence.
3. Letter from bank or bank statement reflecting your name and account details.

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Business (PTY, CC, Trust, NPO, NGO, NPC, or other business entity)

If a member or stakeholder of a registered business is onboarded, we require the following documents:

1. CIPC registration documents (for Pty Ltd, NPC, or NPO structures) or Trust deed (if operated through a Trust).
2. Director/s ID copy.
3. Resolution if more than one director.
4. Proof of business address (or affidavit from the police station).
5. Bank confirmation letter or bank statement.

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South African Schools

A School is defined as a juristic entity classified as a public school or an independent school which enrols learners in one or more grades from grade R (Reception) to grade twelve.

Public Schools

1. EMIS number and associated EMIS registration certificate.
2. Governing body minutes of current Governing body members and any associated changes to the Governing Body.
3. Bank confirmation letter or bank statement.

Private / Independent Schools

Independent Schools are often operated by another juristic entity (e.g., Pty Ltd, NPC, NPO, or Trust). We require the following documents:

1. CIPC registration documents (for Pty Ltd, NPC, or NPO structures) or Trust deed (if operated through a Trust).
2. Resolution authorising the Principal or bursar to act on behalf of the school (if required).
3. Director(s), Trustee(s), or Office Bearer(s) ID copies and proof of address.
4. Bank confirmation letter or statement.
5. Any applicable Department of Education registration certificate.

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Rewards Programme Merchants

Merchants applying for the Rewards Programme must submit:

1. Signed Rewards Programme participation agreement.
2. All documents listed above for their corresponding entity type (Sole Proprietor, Business, or School).

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Beneficial Ownership (UBO) Verification & Payout Restrictions

Sticitt identifies and verifies the ultimate beneficial owners (UBOs) of all merchants in line with section 21B of the FIC Act.

Public Schools

1. UBOs = School Governing Body (SGB) members, Principal/Bursar (effective control).
2. Documents: 
   
   1. EMIS certificate, 
   2. Governing body minutes, IDs of authorised signatories (Principal, SGB Head/Bursar & Finance Head).

Private or Independent Schools (Pty Ltd, NPC, Trust)

1. Pty/NPC: UBOs via ≥5% ownership test, then control through other means, then senior management if no other UBO’s identified.
2. Trust: UBOs include founder(s), trustees, beneficiaries, and protectors.
3. Documents: CIPC company docs or Trust deed, director/trustee IDs, resolutions, bank confirmation.

Campus Merchants (Tuckshops, Aftercare, Uniform Providers, etc.)

1. Sole Proprietors: proprietor is UBO.
2. Partnerships/Ptys: apply process of elimination (≥5% owners → control → senior managers).
3. Documents: 
   
   1. ID, 
   2. proof of residence, 
   3. bank confirmation, 
   4. registration docs (if Pty), 
   5. resolutions.

Rewards Programme & Open-Loop Terminal Merchants

1. Enhanced CDD applies.
2. UBOs verified as above.
3. Sanctions & PEP screening performed via XDS.
4. Adverse results may lead to decline, escalation to the Fraud Committee, or STR filing with the FIC.

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General

Sticitt may withhold funds if documentation as per above is outstanding, incomplete, or if risk indicators are identified. We may amend this document by posting a revised version on our website, at which point the posted revised version will be effective. If you have any queries about the above information, please do not hesitate to contact us at legal@sticitt.co.za.

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