Workspace Verification
Why Fungies.io Verifies Your Business
Fungies.io is a Merchant of Record (MoR) platform — meaning we legally stand between you and your customers as the seller of record. When a buyer purchases your product, Fungies processes the payment, handles tax compliance, and takes on liability for the transaction. This is fundamentally different from a standard payment gateway.
Because of this responsibility, every business must be verified before it can start selling. Here's why:
Fraud prevention — Unverified stores are the primary vector for payment fraud, money laundering, and card abuse. As your MoR, Fungies is liable for any fraudulent transactions that pass through our platform.
Card network compliance — Visa, Mastercard, and other networks require MoRs to perform KYB (Know Your Business) checks on all merchants. Without this, we risk losing our ability to process payments entirely.
Chargeback protection — Understanding your business model upfront lets us detect suspicious activity early and protect both you and your customers from disputes.
Tax and regulatory compliance — As your MoR, we collect and remit taxes on your behalf globally. We need to understand what you're selling to apply the correct tax rules.
Once your activation request is submitted, our team reviews and approves your store within 24 hours.
How to Complete the Store Activation Form
Navigate to Settings → Store and click "Add Business Details" to open the Store Activation Request form. Fill in each field as follows:
Full Name
Your legal full name as the business owner or authorized representative. This is used for identity verification and contract purposes.
Contact Email
The primary email address for your account. This is where Fungies will send activation status updates, compliance notices, and billing communications. Use a business email if possible.
Address
Your registered business address (or personal address if you're a sole trader/individual). This must match your official business registration documents.
City & Country
The city and country where your business is legally registered. This determines applicable tax rules and regulatory jurisdiction under which Fungies processes payments on your behalf.
Website URL
The URL of the website or product where you plan to sell. Our team will review this to confirm your product is live (or near-launch), understand your customer base, and verify that your business model complies with our acceptable use policy.
Social Media URL
A link to your business's social media profile (LinkedIn, Twitter/X, Facebook, etc.). This helps us verify your brand's legitimacy and online presence — an important signal in our fraud screening process.
Business Description
A concise overview of your company — what you do, who your customers are, and how long you've been operating. Think of this as your elevator pitch to our compliance team. Be clear and specific.
Products or Services
Describe exactly what you intend to sell through Fungies. Include product type (SaaS, digital goods, templates, plugins, etc.), pricing model (one-time, subscription, usage-based), and your target market. This information is critical for tax classification and risk assessment.
Purpose of Usage
Explain why you're using Fungies specifically as your MoR. For example: "We need global payment processing with automatic tax handling for our SaaS product sold to customers in the US and EU." This helps our team understand your use case and configure your account appropriately.
Do You Already Have Customers?
Select Yes or No to indicate whether you have an existing customer base. This helps us assess payment volume expectations and prioritize your review accordingly.
What Happens After You Submit
Submission — Your request is logged and assigned to our compliance team immediately.
Review — We verify your business details, check your website, and screen against fraud and sanctions databases. This takes up to 24 hours.
Activation — Once approved, your store is activated and you can begin accepting payments through Fungies.
Rejection or Follow-up — If we need more information or cannot approve your application, we'll reach out via your contact email with next steps.
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