Glossary

KYC and KYB

KYC and KYB are the customer (Know Your Customer) and business (Know Your Business) checks a provider runs before onboarding a merchant.

KYC verifies the person: passport, address, sometimes a selfie with the document. KYB verifies the company: incorporation documents, beneficial owners, licences, website and business model. Providers must run these checks under anti-money-laundering rules.

The riskier the niche, the deeper the check: for gaming, betting and forex, providers usually ask for the licence, terms of service, traffic sources and how disputes are handled.

A ready document pack speeds up onboarding noticeably. Hiding the real business model almost always ends with a blocked account and held funds.

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Related terms

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