How to Open a Payoneer Company Account in Pakistan: A Step-by-Step Guide

When registering with Payoneer in Pakistan, you will be asked to select an account type that accurately reflects your business structure. Choosing the correct type ensures your account is set up with the right features and verification requirements.

• Individual: Select this option if you are an individual customer without a registered business.
• Sole Proprietor: Choose this if you run a one-owner business (not a separate legal company), using your own name or a business name (often with FBR/NTN).
• Company: Choose this if your business is a registered company in Pakistan with SECP.

Note: If you are only receiving payments from the company that hired you (as an employee or freelancer), please register as an Individual.

Depending on your line of business, you may be offered different types of Payoneer account plans. Each plan includes different features and services. If you want to know more, please check the Payoneer FAQ.

Who should apply as a company?

This guide is for businesses registered in Pakistan that are applying for a Company account. This account type is appropriate if you are:

• A Private Limited (Pvt. Ltd.) or SMC-Private Limited company registered with SECP.
• A Public Limited company listed on the Pakistan Stock Exchange (PSX).
• A partnership or Association of Persons (AOP) not incorporated as a company.
• A non-profit organization, foundation, or trust registered with SECP or a relevant authority.
• A sole proprietorship with FBR/NTN registration (selecting Sole Proprietorship as your company type).

Important: Only one Payoneer account per company is allowed. If your company already has an approved Payoneer account or has previously applied, any new registration will be automatically rejected. Please continue using the existing account.

Company Account vs. Individual Account: Key differences

Selecting a Company account rather than an Individual account reflects your registered business structure and unlocks features appropriate for business operations.

FEATURE	INDIVIDUAL ACCOUNT	COMPANY ACCOUNT
Best For	Freelancers and individuals without a registered business.	SECP-registered companies, partnerships, sole proprietors with FBR/NTN, and non-profits.
Registration	No business registration required.	Business registration documents required (e.g., SECP Certificate, NTN).
Bank Account Name	Must match the individual’s registered name.	Must match the registered business name exactly.
Authorized Representative	The individual registers on their own behalf.	An authorized representative (owner, director, or employee) manages the account on the company’s behalf.
UBO Disclosure	Not required.	Required for any person or entity with 25% or more ownership.

What you need before applying

To avoid delays or rejections, prepare the following information and documents before you begin registration. All details must match your official business registration records exactly.

1. Business registration details

• Business registration number exactly as it appears on your business registration document.
• Legal business name and date of registration/incorporation exactly as shown on your registration document.

2. Registered business address

• The company’s legally registered address exactly as it appears on your company verification document (e.g., business license, tax document).
• If your main office is at a different address, you will need to provide that address separately and may be asked for an address verification document showing your company name and the address entered.

3. Online presence (Recommended)

• A URL to your company website, marketplace store link, or social media page (e.g., LinkedIn, Instagram) to help verify your online presence.

Tip: If your business does not yet have a website, you may proceed without a URL. However, we highly recommend providing one whenever possible. If you cannot provide a URL at this time, we may request a business URL and/or additional documents later, especially when you apply for additional features or your account activity increases.

4. Authorized representative details

An Authorized Representative is someone the business appoints to manage the Payoneer account on the company’s behalf. This person may submit verification documents and communicate with Payoneer. They must be genuinely connected to the business (e.g., owner, director, or employee).

• Full private residential address of the authorized representative (P.O. boxes and public addresses are not acceptable).
• The address provided must appear on a valid document issued in the representative’s name, such as a tax document, utility bill, or bank statement. It does not need to match the address on their identity card.
• ID number of the authorized representative exactly as it appears on their National ID, Driver’s License, or Passport.

5. Bank account for withdrawals

• The bank account you plan to use for withdrawals from Payoneer.
• The bank account holder’s name must exactly match the business name you are registering with on Payoneer.

Step-by-step registration process

Step 1: Select your account type

Go to the official Payoneer website and begin your registration. When prompted, select Company. You will then be asked to choose your specific business structure. Use the guidance below to select the correct type.

COMPANY TYPE	WHEN TO SELECT IT
Private Corporation (Co/Corp/Inc)	For most Pakistan companies registered with SECP as Private Limited (Pvt. Ltd.) or SMC-Private Limited (not publicly traded).
Public Corporation (Co/Corp/Inc)	For SECP-registered Public Limited Company (Ltd.) — typically listed or shares offered to the public (e.g., on the Pakistan Stock Exchange).
Limited Company (Ltd)	Choose this if your company is registered as a Limited (Ltd.) company and your legal name ends with “Limited” or “Ltd.” If your company is Pvt. Ltd. / SMC-Private Limited, select Private Corporation instead.
Sole Proprietorship	For businesses owned by one person that are not incorporated (not a separate legal entity). You may still have tax registration (e.g., NTN with FBR).
Partnership	For businesses owned by two or more partners that are not incorporated as a company (partnership/AOP).
LLC	Pakistan generally uses Pvt. Ltd. / Ltd. / LLP — not “LLC.” Choose LLC only if your business is a foreign LLC in its home country, or an LLP where the registration screen uses “LLC” for LLP-type entities.
Incorporation (Inc)	Choose this only if your business is incorporated outside Pakistan and the official legal name specifically uses “Inc.” Most Pakistan businesses should use Private Corporation or the relevant local type.
Non-Profit Organization (NPO)	For non-profit or non-stock entities (e.g., foundation, association, trust) registered with SECP or other government bodies that do not distribute profits to owners or members.
Trust Company	Choose this only if you are a licensed trust entity, typically a bank or financial institution with a trust license from the State Bank of Pakistan.

Step 2: Enter your business registration details

Enter the business registration number, legal business name, and date of registration or incorporation exactly as they appear on your business registration document. Any mismatch may cause delays or rejection.

Step 3: Provide your registered business address

Enter your company’s legally registered address exactly as it appears on the company verification document (e.g., business license, tax document).

If your main office is located at a different address, check the box provided and enter the full address. Payoneer may request an address verification document showing your company name and the address entered.

Step 4: Provide your online presence

Enter a URL for your company website, marketplace store, or business social media page. If you do not have a URL at this time, you may proceed, but additional documents may be requested at a later stage.

Step 5: Enter authorized representative details

Enter the full details of the person authorized to manage this Payoneer account on the company’s behalf. This person must be genuinely connected to the business (e.g., owner, director, or employee).

You will need to provide:

• Full private residential address of the authorized representative.
• ID number exactly as it appears on their National ID, Driver’s License, or Passport.

Note: P.O. boxes and public addresses are not acceptable for the authorized representative’s residential address. The address provided should appear on a valid document issued in their name, such as a tax document, utility bill, or bank statement.

Step 6: Connect your bank account

Provide the bank account your company will use for withdrawals from Payoneer. The bank account holder’s name must exactly match the business name you are registering with on Payoneer.

IBAN Tip: IBAN is not the same as your account number — it is a longer code that usually starts with PK. A Pakistani IBAN typically looks like: PK + 2 digits + bank code (4 letters) + remaining numbers (total often 24 characters). If you only have your account number, ask your bank for the IBAN or check your bank app or statement.

Step 7: Visual identity verification

The authorized representative must complete a two-part identity check: a government-issued photo ID and a selfie. The selfie is taken by placing the face in an on-screen oval during the registration process.

The ID must meet the following criteria:

• Clear and readable, in full color, showing the entire document.
• Matches the details provided at registration.
• Government-issued, with a recognizable issuing country.
• Contains full first and last name, clear photograph, ID number, full date of birth, and MRZ code (for Passports).
• Preferably written in English.
• Damaged IDs (e.g., punched hole) and laminated copies are not accepted.
• If the country of stay shown in the ID is not Pakistan, submit the back side of the ID that includes the MRZ code.

Most recommended ID types:

• National ID card (back side required)
• Passport
• Driver’s License

Not accepted:

• Disability card
• Student ID
• Digital ID
• Voter card
• Provisional driver’s license or learner’s permit

Step 8: Submit documents for verification

Upload the required verification documents. These are the basic documents needed to verify and approve your account. This includes your government-issued photo ID for Visual Identity Verification and a document confirming your residential address (such as a bank statement, utility bill, or a second government-issued ID). 

See the Document Checklist below for full details. 

Depending on your details and account activity, additional documents may be requested.

Note: If your company verification document (such as a Business License) shows both your company name and registered address, you can submit the same document to satisfy both the Business Identity Verification and the Proof of Company Address requirements.

Step 9: Provide business owner information

Provide details about the business owner(s) that match your actual company ownership structure.

• If your company has multiple ownership layers (e.g., a company owned by another company), Payoneer may ask for details at each layer until the final owner(s) are identified.
• If your company does not have an Ultimate Beneficial Owner (UBO), provide details of the most senior director or the person who ultimately controls the business.

After you apply: What to expect

• Review timeline: Payoneer account applications are usually reviewed within 3 business days after all requested documents have been submitted.
• Verification center: In some cases, additional information or documents may be needed before your account can be approved. Please visit the Verification Center in your Payoneer account to check for any pending requests.
• Notifications: You will be notified by email once your account has been approved. Make sure to check both your inbox and spam/junk folder if you do not see any updates.

Important rules to remember

• One account only: Only one Payoneer account per person/company is allowed. If your company already has an approved account or has previously applied, any new registration will be automatically rejected.
• Account closure or decline: There are several reasons why a Payoneer account may be closed or declined. To learn more, refer to Payoneer’s FAQ.

Document checklist

Prepare the following documents before starting your registration. Ensure every document is in full color, clearly readable, and shows the complete document from edge to edge.

1. Business identity verification

Provide one or more of the following to verify your registered company:

• Certificate of Incorporation or Registration issued by SECP (for companies).
• NTN Certificate (National Tax Number) issued by FBR.
• Business license or equivalent government-issued document showing your legal business name and registration number.

Tip: If your company verification document shows both your company name and registered address, you can use the same document for both Business Identity Verification and Proof of Company Address.

2. Proof of company address (POCA)

The document must show the registered company name and the exact legal address as entered during registration. Accepted documents include:

• Company verification document (if it explicitly includes the registered address).
• Bank or credit card statement under the company name, issued within the last 3 months.
• Utility bill (Electricity, Water, Gas, Landline, or Internet) issued within the last 3 months.

3. Bank account verification

• Bank statement containing the company name and the bank account number registered with Payoneer.
• Must be issued within the last 3 months.
• Must contain the bank’s letterhead (logo and name).

4. Business owner information

• Details of any Ultimate Beneficial Owner (UBO) — any person or entity owning 25% or more of the company.
• If no UBO exists, details of the most senior director or the person who ultimately controls the business.
• If there are multiple ownership layers, details for each layer until the final owner(s) are identified.

5. Authorized representative verification (visual identity verification + address proof)

Government-issued photo ID (visual identity verification):

• National ID card (back side required), Passport (MRZ code must be visible), or Driver’s License.
• Must be clear, in full color, and show the entire document.
• Must not be expired at the time of submission.

Proof of address (authorized representative):

One of the following, confirming the authorized representative’s full residential address:

Option A: Government-issued photo ID (different type from the one used for visual identity verification):

• Must not be expired.
• Must contain the exact same address registered with Payoneer.
• Must be a different ID type from the one used for Visual Identity Verification.

Option B: Bank statement:

• Must contain the representative’s name and bank account number registered with Payoneer.
• Must be issued within the last 3 months.
• Must contain the bank’s letterhead (logo and name).

Option C: Utility bill (water, cable, gas, electricity, home internet, television, or landline):

• Must contain the representative’s name and exact address registered with Payoneer.
• Must be issued within the last 6 months.
• Must contain the utility provider’s letterhead.

If the utility bill is only in a spouse’s or family member’s name, submit a different document under the representative’s name instead. If a utility bill is the only option, contact Payoneer and submit it together with one of the following:

• Marriage license
• Birth certificate
• Family registry

Mandatory criteria for ID approval

CRITERION	REQUIREMENT
Color	Must be in full color (no black and white scans).
Clarity	Must be clear and readable; no blurry text, glares, or obstructions.
Completeness	Entire document must be visible; no cropped images or screenshots.
Consistency	Details must exactly match the information provided at registration.
Validity	The ID must not be expired at the time of submission.
Format	Original ID only — laminated copies and damaged IDs are not accepted.
Language	Preferably written in English. If the country of stay is not Pakistan, submit the back side showing the MRZ code.