Payment Facilitators: Decoding KYC Requirements


About Payment Facilitators

A payment facilitator, also known as a payment service provider (PSP), is a company or entity that enables businesses and individuals to accept electronic payments for goods and services. They act as intermediaries between merchants and customers, streamlining the payment process and providing a simplified platform for accepting various payment methods, such as credit cards, debit cards, mobile wallets, and online banking.

Decoding KYC Requirements for Payment Facilitators

1. Customer Identification 2. Proof of Address 3. Business Documentation 4. Beneficial Ownership 5. Risk Assessment 6. Ongoing Monitoring

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