Eligibility & Limitations
Who can sign up for a PayHere Merchant Account?
- Any business entity in Sri Lanka can sign up for a PayHere Merchant Account.
What are the types of PayHere Merchant Accounts?
- There are 3 types of PayHere Merchant Accounts.
- Standard Accounts - General Merchant accounts offered for registered business entities in Sri Lanka.
- Starter Accounts - Limited Merchant Accounts offered for non-registered business entities in Sri Lanka if they get qualified for a Starter Account.
- Premium Accounts - Standard Merchant Accounts with discounted fees offered for registered business entities that exceed LKR 2,000,000 monthly volume.
Do we need to be a registered business entity to get a PayHere General Account?
- Yes, you have to be either a sole-proprietorship or partnership business or a limited liability company in Sri Lanka to get a PayHere General Account.
We are running a business but not registered yet. Can we have a PayHere Account?
- If you’re already running a business, but not registered yet, you have a little chance to get a PayHere Starter Account only if you can prove us with clear evidences that you are running your business from some considerable amount of time. But if you are a new born business, you cannot get a PayHere Starter Account.
Do Starter Accounts have any limitations?
- Yes. Starter Accounts have limits on payment amounts (can accept max Rs.5,000 per payment), holding period (20 days) & fees (1.0% higher payment processing fee).
Do we need to be a Limited Liability company to have a Standard Account?
- No. You can even be registered as a sole-proprietorship or a partnership business.
Are there any benefits for registered businesses?
- Yes. Registered businesses can directly sign up for Standard Accounts with much higher payment limits (can accept max Rs.100,000 per payment) & shorter holding period (10 days).
Why there are limits for non-registered businesses?
- If you’re running any type of business in Sri Lanka, you’re always encouraged to register your business in order to minimize risks for yourself & ensure trust for your customers. We support you to start your business even you’re not registered yet, but always encourage you to register your business when you’re growing.
How to register my business in Sri Lanka?
- You can register as a Business or a Company. Registering as a Business is easy, very affordable & can be done within a day. Registering as a Company is bit expensive & takes few days, but it gives the highest trust & credibility to run your business. You can get more details on registering a business in Sri Lanka by calling 1919 Government Information Center.
Can we start with a Starter Account & later upgrade to Standard Account?
- Yes. You can always start with a Starter Account If you’re not registered yet. Later once you get registered, you can submit your registration details for Review & upgrade your account to a Standard Account to enjoy higher limits.
Can we increase the per payment limits on our Standard Account?
- Yes. Registered businesses can increase their account limits by sending a special request to email@example.com with a scanned copy of a signed request letter in the business’s letterhead.
Can we directly get a Premium Account?
- No. You have to start with a Standard Account & accept more than LKR 5,000,000 payments monthly to be qualified for a Premium Account. If you get qualified, then you can request to firstname.lastname@example.org to upgrade your account to a Premium Account with discounted fees.
We are a new business, so we can’t even apply for a Starter Account as we have no evidence to prove that we run a real business. Can’t we get a PayHere Account?
- You can. All you have to do is, registering your business at least as a sole-proprietorship. It takes only one day if you have documents ready & will cost you only Rs.2,500. You can get more details about registering a sole-proprietorship in Sri Lanka by calling 1919, Government Information Center. Once you got your BR (Business Registration) you can directly get a PayHere Standard Account without having to prove that you’re already running a business.