Skip to main content
A Business is the core entity in Cleo Pay. Every action — sending payments, receiving invoices, managing vendors — happens in the context of a business. When you sign up, you register a business, complete verification, and then connect with other businesses to exchange payments.

​
Business types

Cleo Pay supports two types of businesses. The type you choose determines what payment directions your business can participate in.
A Standard business can both send and receive payments on Cleo Pay.
  • Initiate ACH payments to your vendors
  • Receive payments from your customers
  • Create and manage payables (invoices)
  • Maintain a Cleo Pay balance and withdraw funds to your bank account
  • Full KYB (Know Your Business) verification is required before payments are enabled
Standard is the default type when you register a business through the normal onboarding flow.

​
Business lifecycle

Every business moves through the following stages before payments are fully enabled.
StageDescription
RegisteredYou’ve created an account and started onboarding. Payments are not yet available.
Pending verificationYou’ve submitted your business information. Cleo Pay is reviewing it.
VerifiedVerification is complete. You can send and/or receive payments depending on your business type.
SuspendedVerification failed or was flagged. Contact support to resolve the issue.

​
Verification (KYB)

Before your business can send or receive payments, Cleo Pay verifies your identity and business through a Know Your Business (KYB) process, including IRS TIN matching. What you need to provide depends on your business type:
1

Business information

Provide your legal business name, address, business type (sole proprietorship, LLC, corporation, etc.), and industry classification.
2

Tax identification

Submit your Employer Identification Number (EIN) or, for sole proprietors, your Social Security Number (SSN). This is used for IRS TIN verification.For Standard businesses, you also sign a W-9 form. For Basic businesses, a simplified tax submission is used.
3

Controller information

Provide details about the individual who controls the business — typically an owner or executive. This includes their name, date of birth, address, and a government-issued ID number.
4

Beneficial ownership certification

If your business has individuals who own 25% or more of the company, you must list them as beneficial owners and certify the information is accurate.This step applies to Standard businesses. Basic businesses do not require beneficial ownership certification.
5

Document upload (if required)

In some cases, Cleo Pay may request supporting documents such as a passport, driver’s license, or business formation documents to complete verification.
The information you provide during verification may be shared with the IRS for TIN matching.

​
Business profile

Your business profile is what other businesses see when they connect with you on Cleo Pay. You can customize the following:
FieldDescription
NameYour legal or trading business name.
AliasA short, friendly name used internally and in some display contexts.
LogoAn image uploaded to represent your business. Appears on invoices and your profile.
Background imageA banner image displayed on your public business profile.
EmailsOne or more verified email addresses associated with your business. Emails are verified with a confirmation code.

​
Balance and withdrawals

Standard businesses accumulate a Cleo Pay balance when they receive ACH payments. The balance is held in your Cleo Pay account until you withdraw it. To access your funds, you initiate a withdrawal to a linked bank account. Withdrawals are processed via ACH and typically take 1–3 business days to settle.
Your Cleo Pay balance is separate from your linked bank accounts. Make sure you have a verified bank account on file before initiating a withdrawal.