KYC stands for "Know Your Customer" and means a process of verification and identification of the clients. All financial institutions, including acquiring banks , are required to know its clients. Knowing the client means analyzing the product or the service he sells, sales territory and target client. The main reason behind knowing the client is to avoid fraud and money laundering of illicit origin. In a sector of online payments KYC process is usually more lax. As a general rule, once the client manages to open a bank account in a financial entity, it means that he has passed the controls of Compliance department. However, if it is detected that the client is using a Virtual POS to process the amounts of money whose origins are unclear or that are involved in money laundering, his merchant account will be closed and future collaboration denied. If you would like to request a payment gateway for your online commercial activity , KYC process will include these documents. Payment gateway for autonomous and freelances See Requirements Payment processing / payment gateway for autonomous and freelances Payment gateway application forms Bank application forms Website used for commercial activity for risk and nature of the business evaluation Information about the products and services that will be sold on the website Copy of Passport Certified by a notary. Copy of Personal Identity Card Certified by a notary. Copy of one utility bill not older than 3 months Electricity, water, gas, telephone or bank statement. Bank Reference or bank certificate not older than 3 months In English Payment gateway for online businesses See Requirements Payment processing / payment gateway for online businesses Payment gateway application forms Bank application forms Website used for commercial activity for risk and nature of the business evaluation Information about the products and services that will be sold on the website Articles of the incorporated company Apostilled and certified by a notary copies of the articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago "Certificate of Good Standing". Copy of Passport Certified by a notary. Copy of Personal Identity Card Certified by a notary. Copy of one utility bill not older than 3 months Electricity, water, gas, telephone or bank statement. Bank Reference or bank certificate not older than 3 months In English. * Each individual involved in the administration of the company (director/s and shareholder/s) will have to present this documentation.

Definition KYC

Payment processing / payment gateway for online businesses
Payment gateway application forms	Bank application forms
Website used for commercial activity for risk and nature of the business evaluation	Information about the products and services that will be sold on the website
Articles of the incorporated company	Apostilled and certified by a notary copies of the articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago "Certificate of Good Standing".
Copy of Passport	Certified by a notary.
Copy of Personal Identity Card	Certified by a notary.
Copy of one utility bill not older than 3 months	Electricity, water, gas, telephone or bank statement.
Bank Reference or bank certificate not older than 3 months	In English.

* Each individual involved in the administration of the company (director/s and shareholder/s) will have to present this documentation.

What is KYC process?