Store Setup

Contents
Overview
Getting Started with Your Best Buy Seller Hub Account
Creating Your Mirakl Store
Managing Store Hours and Closures
Navigate the Marketplace Portal
Setting up Payment Configuration (KYC Process)
Step 1: Register for a Payoneer account
Step 2: Provide Information About Your Business
Step 3: Provide your Business and Personal Information
Step 4: Submit the Required Documents
Step 5: Upload Tax Form to Payoneer
Key Reminders
Initial Seller Payments
Create Products and Offers
Check for Existing Items in Best Buy’s Catalog
Create Offers for Existing Products
Shipping Configuration
Integrators & Connectors
Product Reviews on Best Buy Marketplace
Webinar Archives

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. To get paid, you’ll be asked to register a Payoneer account that will be used exclusively for your Best Buy sales. You are required to register an account with Mirakl Payout’s financial partner, Payoneer, and complete the Know Your Customer (KYC) process.

Below are the steps to complete the KYC process for payout. You can also watch this video for a step-by-step demonstration.

Step 1: Register for a Payoneer account
  • Sign in to your Mirakl account and click the “Pending KYC submission” banner.


     
  • Once selected, you will be redirected to Payoneer’s registration page.
  • Once on the Payoneer screen, start by entering your email address.

What if I already have a Payoneer account?

  • If you have an existing Payoneer Account that is a US, China or Hong Kong legal entity, log in to your existing account to link your Best Buy Marketplace account.
     
    • The existing Payoneer account will be linked to Best Buy but will remain inactive until additional information is provided.
    • You will receive an email notification explaining that additional information is required to receive payouts from Best Buy, including a direct link to their Verification Center, where you will submit any outstanding documentation.
    • Important: Payoneer requires a different email address for each account. Please use a different email address than any prior Payoneer accounts.
    • A banner displayed at the top of your Payoneer account upon logging in will alert you that additional documentation is required.

What if I do not have a Payoneer account?

  • If you do not have an existing Payoneer account, you must register a new Payoneer account. Enter the email address you’d like to link your Payoneer account to.



     
  • Next, select your business’s registration status

Step 2: Provide Information About Your Business
  • From the drop-down menu, select the industry that best describes your business.



     
  • Next, select “Marketplace” for where the money you receive will come from.



     
  • Provide details on how many payments you will receive per month through Payoneer and the total payment volume.
  • Click “continue” to move to the next step.
Step 3: Provide your Business and Personal Information
  • First, provide basic business details


     
  • Next, enter your business website address.
  • Enter the region where most of your business takes place, followed by your registered business address.
  • Then enter your business registration number and details.
  • Next, enter your personal details and residential address. Please note this is your home address, not your business address.


     
  • Select your ID type and issuing country, then upload your ID and picture.


     
  • Enter your bank details


     
  • Confirm your information is correct, then agree to Payoneer’s terms and policies and review their privacy agreement.


     
  • Allow Best Buy to access your accounts

Step 4: Submit the Required Documents
  • The documents required by Payoneer will be listed on this screen.


     
  • For detailed information on each type of document submission, visit the Payoneer Support Center.
  • Once you have submitted your documents, your account will be reviewed for approval. You will receive notification from Payoneer when your account has been approved or if additional documentation is needed.
Step 5: Upload Tax Form to Payoneer
  • Upon account linkage to Best Buy, you will receive an email from Payoneer with a link to complete an electronic Tax form. You will also see this assigned as a task in your Payoneer verification center when you log in.
Key Reminders
  • To link an existing Payoneer account, your company must be a US, China or Hong Kong legal entity.
  • When creating a new Payoneer account, you must use a different email than any previously used with Payoneer.
  • Be prepared to submit KYC (Know Your Customer) documents after registration.
  • Be sure to submit your electronic tax form when prompted by Payoneer.
  • 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.
  • For additional resources, visit the Payoneer Support Center.