Glossary

KYC

Identity verification process the platform runs before allowing the account to process payments.

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What most often blocks account approval is a simple mismatch: a name that doesn't match, an outdated address, an expired document, or a declared activity different from what the sales page shows.

Fraud rules set too tight reject good customers, set too loose they hand the account to chargebacks. The right setting is not a configuration, it is a weekly read of your own numbers.
Wellington CostaGlobal Payments Specialist

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Written by Wellington Costa Global Payments Specialist

Writes about payment infrastructure, checkout conversion and chargeback reduction. Works directly with digital product sellers, affiliates and creators selling to more than 40 countries through Mundpay.