• Individual KYC: We do a ‘KYC’ process, or CDD for an individual, when you are a merchant who is an individual (e.g., a sole proprietor). In general, we check your identity using an OVD check (identity documents such as Aadhaar, passports, driving licenses, and so on), individual PAN verification, and, if applicable, current address proof check (utility bills, etc.). We can also request additional documents to confirm your financial or company position, such as your business registration documents. 

Following that, we do a background and antecedent check in the form of an initial screening, for which we establish an internal merchant Onboarding Policy. The purpose of this step is to confirm the nature, purpose, and legitimacy of a potential client’s business. To determine business legitimacy, we conduct a variety of checks, including licensing/registration checks, credit checks, profit and loss statement checks, balance sheet reviews, and so on, based on information we obtain directly from the prospective client, as well as publicly available information such as the merchant’s websites, product listings, end-customer reviews, social media activity, and so on. We must additionally check for PCI-DSS compliance because it is mandated by law.