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KYC

 

In this article, we explain what KYC is, how to access the Adyen verification portal and what you should review if the process is pending, rejected or missing documentation.

Important: KYC is mandatory in order to operate correctly in the marketplace and unlock payments. If your documentation is not approved or is incomplete, you must correct it from the platform or from the Adyen portal, depending on the type of error.
Contents
  1. What KYC is
  2. Why it is mandatory
  3. Bank information and later changes
  4. How to access the verification portal
  5. How to complete verification in Adyen
  6. KYC statuses
  7. What to do if KYC fails
  8. Summary
1️⃣ What KYC is

KYC stands for Know Your Customer.

It is a mandatory protocol through which the financial institution reviews and validates the documentation provided by the seller before allowing them to operate normally.

At PcComponentes Marketplace, we work with Adyen, the payment platform that manages this verification process.

2️⃣ Why it is mandatory

KYC is mandatory for legal, operational and security reasons.

  • It is required by European anti-money laundering legislation.
  • It verifies that the seller's business or activity is correctly registered.
  • It protects buyers, sellers, PcComponentes and the financial institution.
  • It allows payment operations to be unlocked once the documentation has been validated.
3️⃣ Bank information and later changes

The first time you set up your bank information, you can enter the corresponding bank details from the platform.

For security reasons, once the bank information has been configured, you cannot modify it directly from your account.

If you need to change the bank account, contact your account manager. The change must be made manually.

Once the change has been made by the account manager, you must access the Adyen portal and provide the corresponding documentation so the new bank information can be validated.

Important: if your bank information is changed and you do not provide the documentation requested in Adyen, the new information cannot be validated and this may affect payment management or payment unlocking.
4️⃣ How to access the verification portal

You can access the Adyen verification portal in two ways:

  • From the link shown in the error notice at the top of the screen, highlighted in red.
  • From your shop settings, through the HOP Url link.
Error notice with link to the KYC verification portal
Remember: if the error includes a link to Adyen, you must access the Adyen portal to review or complete the requested documentation.
5️⃣ How to complete verification in Adyen

Before accessing the panel, Adyen may show you random control questions to reinforce the security of the process.

Security questions to access the Adyen portal

Once inside, you will access your personal verification portal. The portal itself will tell you what information or documentation you need to provide to complete KYC.

Personal KYC verification portal in Adyen
Important: follow the portal instructions and provide the requested documentation. If your bank information has been changed, you must also provide the corresponding documentation so it can be validated.
6️⃣ KYC statuses

You can check your KYC status at the top of the main account settings page.

The statuses may vary depending on the stage of the validation process:

  • Documentation under review: this appears when you have uploaded new documentation and the financial institution must process it before accepting or rejecting it.
KYC status under review
  • KYC failed or not approved: this appears when the documentation has not been approved or information is missing.
Failed KYC status
  • KYC approved: this appears when the documentation has been approved, payments are unlocked and you do not need to take any further action.
Approved KYC status
7️⃣ What to do if KYC fails

If KYC fails, you will see an error message. The message may vary depending on the documentation or information that is missing.

In general, there are two types of error:

  • Error caused by incomplete or incorrect information in Mirakl: you must correct the data directly in the platform. In this case, you do not need to access Adyen.
KYC error caused by incomplete or incorrect information in Mirakl
  • Error caused by incomplete or incorrect information in Adyen: you must access the Adyen portal to complete or correct the requested documentation. This type of error always includes the link to Adyen.
KYC error with link to the Adyen portal
Important: this process is designed so you can complete it independently from Mirakl or Adyen. If you cannot find how to continue or the error is not clear, contact your account manager.
8️⃣ Summary
  • KYC is mandatory: it allows your documentation to be validated before operating normally.
  • Adyen manages verification: you can access it from the error notice or from the HOP Url link.
  • You can set up the first bank account yourself: after that, for security reasons, you cannot modify it directly.
  • If you need to change the bank account: contact your account manager so the change can be managed manually.
  • After the bank change: access Adyen and provide the corresponding documentation to validate the new details.
  • If the error is in Mirakl: correct the information directly in the platform.
  • If the error includes an Adyen link: access the Adyen portal to complete verification.

 

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