How to set up Braintree Account
Braintree provides payment processing option for online payments or within mobile app. Setting up a Braintree mechant account is easy. The first step is to register your Hong Kong company and receive your company documents, such as M&A, Business Certificate, Incorporation certificate and NC1. After receiving all of your company documents, it is recommended to open a PayPal account and a corporate bank account with HSBC Hong Kong (HSBC premier customers may open a bank account online and they do not have to travel to Hong Kong). Read our tip on how to open a bank account in Hong Kong here.
Braintree Online Application
You’ll be asked to submit:
1. Personal Information
2. Business Information – basic information about your business and also Due Diligence documents of directors and all individuals with 25% or more ownership in the company. If the company has multiple directors, please provide copies for at least 2 individuals:
- Passport or National ID card copy of director and all individuals with 25% or more ownership in the company. If the company has multiple directors, please provide copies for at least 2 individuals.
- Personal utility bill copy displaying name and current home address (electric bill, mobile phone invoice, etc.). This is required for all individuals providing ID copies.
3. Certificate of Incorporation from the Companies Registry of
4. Bank letter or statement which displays bank name, company name, account number.
5. Processing information
6. Banking information
You may be asked to provide additional information, e.g. What is the service or product that you are taking payments for? What is your average ticket sales per transaction? Are payments received upfront or an advanced for your services? What is your average ticket sales per transaction? What is your highest ticket sales per transaction?
The Braintree team will review your application and if the provided information is satisfactory and you applications gets approved, there is no other obstacle and you’re free to open your Braintree merchant account.