Store Setup

Contents
Overview
Creating Your Mirakl Store
Managing Store Hours and Closures
Navigate the Marketplace Portal
Setting up Payment Configuration (KYC Process)
Step 1: Start registration from Mirakl
Step 2: Create a new Payoneer account
Step 3: Complete the 4-step registration process
Step 4: Submit required KYC documents
Step 5: If a document is rejected
Step 6: Account Review & Approval
Integrators & Connectors
Create Products and Offers
Check for Existing Items in Best Buy’s Catalog
Create Offers for Existing Products
Shipping Configuration
Webinar: Getting Started as a Marketplace Seller

Setting up Payment Configuration (KYC Process)

Setting up Payment Configuration (KYC Process)
Published Mar 17, 2025

All payments for Best Buy Marketplace sellers are issued through Payoneer, Mirakl Payout’s financial partner. In order to get paid, you’ll be asked to register a Payoneer account that will be used exclusively for your Best Buy sales. It is required to register an account with Mirakl Payout’s financial partner, Payoneer, and complete a Know Your Customer (KYC) process.

Below are the steps to go through the KYC process for payout.

Step 1: Start registration from Mirakl
  • When the Pending KYC submission banner appears in Mirakl, click Go to account.
  • Once selected, you will be redirected to Payoneer’s registration page.
Step 2: Create a new Payoneer account
  • Even if you already use Payoneer for other marketplaces, you cannot use your existing account to receive Best Buy payouts.
  • You must register a brand-new Payoneer account dedicated to your Best Buy sales.
  • Important: Use a different email address from the one associated with any prior Payoneer accounts.
Step 3: Complete the 4-step registration process

You’ll be guided through four steps:

  1. Getting Started – Business or individual details
  2. Contact Details – Legal name, address, and phone number
  3. Security Details – Username, password, and security questions
  4. Almost Done – Bank account details for payouts
  • Under Getting Started, select Company before filling out the details.



     
  • Under Contact Details, fill out basic details about your business. 



     
  • The Security Details section asks you to provide information and identification for an authorized representative responsible for the Payoneer account. In most cases, this person is the CFO, controller, or head of accounting.



     
  • Lastly, the Almost Done section asks you to supply a valid bank account where money can be transferred.



     
  • Note: Completing these four steps does not finalize your account.
     
  • After completion, the "Review > In Progress" message will be displayed on the screen. Please note that once the KYC verification review is complete, you will receive an email informing you of successful completion or advising that additional information is required.
Step 4: Submit required KYC documents

Following registration, you will receive an email from Payoneer to confirm your email address. You will then be asked to provide supporting documents to verify your identity and business. These may include:

  • Government-issued ID (passport, driver’s license, or national ID)
  • Proof of address (utility bill, bank statement, lease agreement)
  • Business registration documents (if registering as a company)
  • Bank account verification documents
  • Ultimate Beneficial Owner documentation

Payoneer may request some or all of these depending on your business type and location.
 

Step 5: If a document is rejected
  • Payoneer will notify you by email if a document is not accepted.
  • You’ll also see an open requirement in the Notification Center of your Payoneer account.
  • Be sure to check your account regularly while waiting for approval, as additional documents may need to be submitted.

Review this guide for accepted documents and common rejection reasons. For more details on requirements, see Payoneer's FAQ page.

 

Step 6: Account Review & Approval
  • Once your documents are submitted, Payoneer will review your application.
  • You’ll be notified by email once your account is approved.
  • At that point, you’ll be able to receive seller payouts from Best Buy.

Key Reminders:

  • You must open a new Payoneer account specifically for Best Buy sales.
  • Use a different email than any previously used with Payoneer.
  • Be prepared to submit KYC (Know Your Customer) documents after registration
  • Additional Resources: Payoneer Support Center
  • Requests for additional documentation information may occur after passing KYC, based on compliance measures implemented by Payoneer. If this occurs, the status in Mirakl will change back to Invalid KYC.