In this article, you will be provided with an explanation of the function and process of setting up your payment account. The payment account is needed to bill charging sessions automatically via the reev Platform.
Why do I need a payment account?
With the reev Platform we offer you the opportunity to offer charging services for a fee. This implies that you, as the operator, receive payments from people charging at your charging infrastructure.
The processing of these payments is handled by our payment service provider (Payment Service Provider - short PSP) called Stripe Payments Europe Ltd., which has a license for payment services or e-money business issued by the Central Bank of Ireland. Saxo Payments A/S acts as the bank. A BaFin license is available.
For you as the operator, we provide a connection to the platform via the Stripe Connect products. Stripe Connect includes various software tools that can be used to process payments.
You need a payment account with Stripe so that as the operator you can enter into a direct business relationship with the drivers about your charging performance, which meets the requirements of the applicable legal situation (especially PSD2 and ZAG) are relevant.
The driver's amounts are booked on this before the total amount for all completed charging processes is distributed in the form of a payment to the stored business account.
You can find more information about the company at https://stripe.com/de and via the Connect products at https://stripe.com/de/connect.
The payment services provided by Stripe are subject to the Stripe Connected Account Agreement (Stripe Connected Account Agreement), which contains the Stripe Terms of Use (Stripe Terms of Service). These are summarised under the collective term "Stripe Services Agreement".
How do I set up my payment account?
You can set up your payment account in the Administration menu, under the Billing Settings tab, by selecting Charging Employees/Tenants/Guests, and track the verification process there.
Essentially, a verification process is carried out, especially for banks and insurance companies (known as Know Your Customer or KYC). The purpose of this process is to prevent money laundering.
During the process, information about the company or business applying for the payment account is requested. Information to be provided includes company name and address, VAT ID, commercial register number, and website.
In addition, the following personal information is required:
Additional information about the representative: A person known as the representative must activate this payment account. This person must be an authorized signatory for the company. Depending on the situation, it may be necessary to provide a scan of an identification document, an address document, or both documents to enable payouts. This is especially the case if Stripe cannot verify the representative or if there are concerns about penalties.
Additional information about managing directors: For companies (excluding private companies), information about all directors must be collected. Directors are members of the company's board of directors. If there are potential concerns about penalties, you must provide a scan of an identification document and an address document to enable payouts.
Additional information about beneficial owners (both for executives and owners): Information about all beneficial owners must be collected. Beneficial owners are individuals who exercise significant management control over the company (executives) or who own more than 25% of the company (owners). Depending on the situation, it may be necessary to provide a scan of an identification document, an address document, or both documents to enable payouts. This is especially the case if Stripe is unable to verify a beneficial owner or if there are potential concerns about penalties.
At least the surname, first name, address, date of birth, and email address of this person or these persons must be entered. You can find Stripe's policies regarding the protection of this personal data here.