In an effort to better protect your banking information from fraud or theft, Stripe has updated the information that’s required to verify your Wodify Payments account and process payments through Wodify. This is a required update in order to continue processing payments and receiving payouts through the Wodify Payments Powered by Stripe system. 

All Wodify Payments Powered by Stripe users are required to provide or update this information.

Stripe will now require you to have submitted information to verify both your Business Identity and Personal Identity. In the past, Stripe only required one or the other, however, this has been updated for additional verification. 

• Business Information required: TIN, Business Name Descriptor (must match your business name), Social Media URL, Business Email Address, Physical Business Address, Business Website URL
• Personal Information Required: Last 4 of SSN, Full Name, Email Address
• A full SSN may be required if initial verification fails or once your transaction threshold reaches $500k

• Verification of the Tax ID Number (TIN) will now be required once the business has been active for 30 days or has processed $600 in transactions. Whichever comes first.

• The required business and personal information may also vary depending on your region

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In order to update this information:

1. Go to Financial > Settings,
2. Select the Wodify Payments Configurations tab
3. Select the name of your configuration to open the details
4. Select the link at the top (just under Account Details) that says Click here to change any other merchant account info
   

This will take you to the Wodify Payments Powered by Stripe Wizard, where you can submit the required personal and business information:

If you have any questions about this, please don’t hesitate to reach out to our Customer Success Team, and we’ll be happy to walk you through these updates! 

• You can email us at support@wodify.com
• You can book a 15-minute 1:1 Coaching call with us here
• or via Priority Live Chat in your admin account (Promote only).