KYC

The concept

KYC, Know Your Customer, is the mandatory check on who is behind the account: identification document, proof of address, company data, ownership structure, and, for a legal entity, the articles of incorporation. The business version is usually called KYB.

This isn't the platform's choice. It's a regulatory requirement for preventing money laundering, and it applies to any institution that moves money on behalf of others.

What most often blocks account approval is a simple mismatch: a name that doesn't match, an outdated address, an expired document, or a declared activity different from what the sales page shows.

How it shows up in practice

You sign up for a payment platform and wait days for approval. Then you get a message saying your account needs documentation. Your CPF was outdated and the address didn't match your document anymore. You send everything again and finally the account is approved.

KYC is mandatory identity verification. The platform needs to know who is behind the account by law, not by choice. Simple divergence, like a name that doesn't match between document and registration or activity that doesn't correspond to what you sell, is what most often blocks account approval.