Know Your Customer (KYC) verification

Introduction

Know Your Customer (KYC) describes the process of verifying the customers and the nature of their transactions to protect financial institutions against fraud and money laundering.

It may involve the following:

Checking the customer's identity;
Understanding the customer's activities in relation to financial transactions and payments;
Establishing the source of funds, etc.

The KYC verification can be applied to both offline and online financial operations. For online payment processing, your acquiring bank might ask to submit the additional KYC data of your customers in API requests.

Handling the KYC data

PayCross does not collect the KYC details on the payment widget. Please collect the necessary information on your end and submit it in requests.

When the KYC parameters of a customer are sent in requests, the PayCross system is considered as entitled to process and transmit them to the processing network and your acquirer.

PayCross is not responsible for the accuracy of the received KYC details. We make neither the validation, nor the verification of the KYC parameters.

Submitting the KYC data

If required, add the KYC data to the additional_data section of your API requests to make a payment, an authorization or a charge request, as well as to create a payment token and to initiate a payment widget.

The supported parameters are listed below.

Info

Contact the Tech Support Teamif you should submit the KYC section and what parameters are required.

Parameter	Type	Description
additional_data	object	A section of additional information about the payment.
kyc_answers	object	A section of the customer's KYC (Know Your Customer) data. Contact Tech Support Team to check if your acquirer requires the section parameters.
source	string	A company or shop name of the merchant responsible for collecting the customer's KYC data.
profile	string	Set to `quickbit-1`.
answers	object	A section of the KYC data.
country_residence	string	The customer's country of residence. Submit it in the ISO 3166-1 alpha-2 format.
countries_citizenship	array	The customer's citizenship. Submit it as an array of country codes in the ISO 3166-1 alpha-2 format.
politically_exposed	boolean	A parameter indicating whether the customer is a politically exposed person. Possible values: `true`; `false`.
using_on_behalf	boolean	A parameter indicating whether the customer makes a transaction on behalf of any third person. Possible values: `true`; `false`.
usage_reason	string	A reason to make a transaction. Possible values: `Make payments` stands for payments for goods and services; `Trade and invest` stands for investment purposes.
est_monthly_transact_frequency	string	An estimated number of transactions per month. Possible values: `1 - 3 times`; `4 - 10 times`; `11 - 20 times`; `More than 20 times`.
monthly_transaction_amount	string	An amount of transactions per month. Possible values: `0 - 150 EUR`; `151 -400 EUR`; `401 - 800 EUR`; `More than 800 EUR`.
main_source_of_funds	string	The customer's main source of funds. Possible values: `Salary`; `Savings`; `Pension`; `Social welfare`; `Inheritance`; `Other`.
monthly_income	string	The customer's income per month. Possible values: `0 - 1000 EUR`; `1001 - 2000 EUR`; `2001 - 5000 EUR`; `More than 5000 EUR`.

Example of the KYC section in the request

{
"request":{
    ....
        "additional_data":{
            "kyc_answers": {
                "source": "DEMO COMPANY",
                "answers": {
                    "country_residence": "NO",
                    "countries_citizenship": [
                        "NO"
                    ],
                    "politically_exposed": false,
                    "using_on_behalf": false,
                    "usage_reason": "Make payments",
                    "est_monthly_transact_frequency": "1 - 3 times",
                    "monthly_transaction_amount": "0 - 150 EUR",
                    "main_source_of_funds": "Salary",
                    "monthly_income": "0 - 1000 EUR"
                }
            }
        }
    ....    
    }
}