KYC

KYC stands for Know Your Customer. It is a mandatory protocol in which banking entities recognize, review, and approve the documentation provided by sellers before allowing them to operate. 

It is mandatory for the following reasons:

• It is required by European legislation against money laundering.

• It ensures that the business joining is legally registered.

• It protects buyers, sellers, and the banking entity itself.

We work with Adyen, a Dutch global payment platform that accepts online, in-store, and in-app payments.

• Via the link generated by the error message, at the top of the screen, highlighted in a red box.

• Via the link within your store’s settings called "HOP Url".

Before accessing your panel, Adyen will ask you three random security questions to ensure your safety.

Once logged in, you’ll enter your personal portal, which will indicate the information needed to complete the KYC.

From there, the portal itself will guide you in detail through what is needed to get your documentation and KYC approved.

There are three KYC statuses, which can be found at the top of your account settings main page. Statuses vary for the following reasons:

• When new documentation is uploaded. The bank must process it before accepting or rejecting:

• If the KYC fails and is not approved, this status is shown:

• When approved, your payments are unlocked and no further action is required.

If the KYC fails, you will see an error message. This varies depending on the required documentation or information. However, we distinguish two types of errors:

• Caused by incomplete or incorrect information within the platform itself, that is, in Mirakl. To resolve this, you do not need to access Adyen.

• Caused by incomplete or incorrect information in Adyen. In this case, you must access your main menu using the methods explained above. This message is recognizable because it always includes the link to Adyen.