KYC stands for "know your customer" and it is a common procedure when establishing an account with an entity that involves the transfer of currency. Over time our KYC requirements have changed, and likely will change again, but right now we have established a structure in which we can confirm your identity accurately while obeying the law in which we are currently governed. Please follow this guide to understand what you may be asked to provide.
The first thing to consider is whether the merchant account you are creating is for an incorporated business or a sole proprietor. Distinguishing this will not affect the service you receive, it is only for determining what documents we will require from you.
Please take note that all documents can be uploaded directly to the merchant dashboard by clicking KYC Center (can be found in the drop down menu in the top right) Please keep in mind that all documents must be unexpired.
The most important piece of information we need when verifying an incorporated business is identity proof for all beneficial owners of the company. This is so we can confirm that the individual creating the account is in fact director(s) of the company. Please submit the following documents to be verified.
- Identity documents for all beneficial owners of the company. This should be a passport or form of government issued id like a drivers license. It also needs to be taken in a selfie style format, meaning a photo of the id and owner visibly holding it.
- Incorporation document(s). This should be articles of incorporation or organization, tax id certificate, government registration etc. (WE ONLY NEED ONE OF THESE DOCS)
- Proof of address for the place of business (a recent utility bill would be acceptable)
If your business or online store is not an incorporated business, then you will be acting as a sole proprietor. Please submit the following the documents.
- Identity document for the account holder. This should be a passport or form of government issued id like a drivers license. It also needs to be taken in a selfie style format, meaning a photo of the id and owner visibly holding it.
- Proof of address (a recent utility bill would be acceptable)
Here are some additional items to keep in mind if you are either a sole proprietor or incorporated business
- We may require you upload additional documents or fill out specific forms even after documents have been verified.
- If your documents are denied, they did meet the criteria for approval.
- Our regulations require us to update KYC that we have on file for our existing merchants so be prepared to submit new documentation we asked