All new Yaspa merchants will be asked to complete an onboarding form, which our compliance team will review to ascertain whether we can proceed with the fuller 'Know Your Business' (KYB) process.
Initial checks
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Onboarding form checks |
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What are we checking? |
Why are we checking this? |
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Current licence |
If you are operating in a regulated sector, what type of licence do you hold, and is it valid? |
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Intended operating territories |
What jurisdictions do you intend to traffic your payments through? Does your current licence cover these areas? Are these areas in high-risk countries? |
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URL checks |
Does your website(s) work well and professionally? Are your business contact details, ownership and licences clearly displayed? |
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Address search on directors and UBOs |
Are the addresses you have provided correct and up-to-date? |
Fuller KYB checks
Once the initial checks have been completed, we then request a fuller list of documents from the client. All documents need to be certified by an independent lawyer/accountant. These are as follows:
Personal documents (certified within the past 6 months)
- Director & UBO identity documents: < 12 months if the document is in date when presented.
- So for instance, a copy of a passport driving license that has been certified within the last 12 months can be accepted (so long as the actual passport etc is in date i.e. isn't expired).
- Director & UBO proof of address: +recent uncertified proof address (if certified >3m)
- So for instance, we can accept a copy of a utility bill certified within the last 6 months. However, we also require an additional copy of an uncertified version dated under 3 months (to ensure the merchant is still at the same address).
Business documents (certified within the past 6 months)
These must provide the full name of the certifier, and how we can find them online. The certifier MUST NOT be affiliated with the company (i.e. completely independent) and they MUST ensure the content of the document is certified.
- Business bank statement (within 3 months)
- Organisational structure chart
- Certificate of directors and company secretaries
- Certificate of shareholders
- Certificate of incorporation
- Certificate of legal existence (or certificate of registered address)
- Certificate of good standing
- Certificate of incumbency
- Memorandum of Association
For businesses operating in regulated markets (eg UK gambling/cryptocurrencies):
- Official document of operating licence (eg FCA/UKGC/GGA/MGA)