Marketplace: Tips for Facilitating the Registration of Professional Sellers

The seller onboarding phase, also called onboarding, aims to allow sellers to register and offer their items for sale on your marketplace.

The quantity and quality of offers being decisive on a marketplace, it is essential to make this obligatory step something simple, quick and secure in order to avoid friction and create from the start a relationship of quality and trust with a new seller.

Make sellers want to register

The first step, even before the seller registers to make their products available on your marketplace, is to make them want to do so!

And to create desire among sellers, they must ensure that they will find interested buyers on your marketplace. It is therefore essential to include elements within your general user experience and in your design approach that will allow sellers to know if your marketplace is attracting qualified buyers.

If the seller has the ability to quickly see that your marketplace is attracting customers likely to buy what they have to sell, the latter will be much more inclined to register with you, and thus allow you to offer new products that will enrich your catalog in general.

Support sellers through the regulatory steps

These steps are undoubtedly the most likely to create friction with a new seller, who will be faced with mandatory declarations and the communication of documents which must respect certain formalities.

KYC and KYB procedures are undoubtedly those that can most easily discourage a seller from completing their integration. These procedures aim to verify the identity of the company and its managers. It goes without saying that this procedure can quickly become chaotic if it is not perfectly structured and supported by the marketplace.

These verification steps require:

• Detailed information entry interfaces.
• Interfaces for adding documents that clearly state the formalism to be respected.
• A user experience that is easy to understand and capable of guiding the user through each step.
• Quick access to support to request help when needed.

Not putting a professional seller into a loop of verification failures should be a marketplace’s main concern when onboarding.

List of information and documents that the professional seller must provide during their onboarding

Typically, the following documents are requested as part of KYC and KYB:

Documents for businesses

Identity of the manager:

• Name
• First name
• Date of birth
• Identity document (identity card, passport, driving license, residence permit, etc.)

Address of manager:

• Proof of address (energy bill, telephone bill, insurance certificate, residence certificate, certificate of ownership, etc.)

Company Identification :

• Company status signed

• KBIS

In the context of a company benefiting from beneficial owners (UBO), their declaration may also be required.

Documents for self-employed businesses

Identity of the manager:

• Name
• First name
• Date of birth
• Identity document (identity card, passport, driving license, residence permit, etc.)

Company Identification :

• INSEE declaration or other registration document
• Documents for associations

Identity of the manager:

• Name
• First name
• Date of birth
• Identity document (identity card, passport, driving license, residence permit, etc.)

Company Identification :

• Registration document
• Association articles

Leverage automatic KYB to simplify KYC and KYB procedures

Particularly for businesses, there is, notably with the all-in-one solution for marketplaces Obvy, a tool for automatically collecting and verifying documents.

By simply entering a company's SIRET, Obvy is able to collect and analyze the documents necessary for the KYB procedure without intervention from the seller. This makes it possible to avoid all regulatory procedures for the latter by limiting its intervention as much as possible but also possible errors in the communication of documents.

Obvy simplifies the onboarding of professional sellers in your marketplace

With the Obvy all-in-one transactional solution, your professional sellers are quickly and easily onboarded, so they can quickly start selling.

Obvy offers all user interfaces for identity verification and company identification. These are optimized to provide optimal readability and increased understanding of the verification processes.

Obvy also allows marketplaces to automate the collection and processing of company identification documents (statutes, KBIS, UBO, etc.) in order to avoid the hassle of obtaining and transmitting mandatory documents for total compliance.

You therefore greatly reduce the risk of friction with professional sellers in your marketplace and you ensure a healthy and positive relationship from the start, encouraging sellers to make their products available on your marketplace.