KYC Policy (Know Your Customer)

KYC Policy at MANDOPAY

At MANDOPAY, we facilitate the integration of authorized payment providers that comply with KYC (Know Your Customer) standards. As a technical platform, Mandopay ensures that the necessary information for these processes is collected and verified in accordance with legal requirements.

Why Do We Follow the KYC Policy?

The KYC policy is critical to ensuring that the payment providers integrated via Mandopay adhere to legal and regulatory requirements. Mandopay facilitates these checks by ensuring that user information is complete and compliant with established standards.

Our Approach to the KYC Policy

To meet the requirements of authorized payment providers, Mandopay collects specific documents and information necessary for regulatory compliance. These details are verified to ensure accuracy and alignment with PSP criteria.

Measures include:

1. Identity Verification
   • Users must provide official identification documents to confirm their identity.
2. Proof of Address for E-Merchants
   • An official document serving as proof of address or business headquarters is required.
3. Bank Details
   • A bank account (IBAN) in the company’s name and registered to its headquarters is mandatory to verify consistency between the merchant’s identity and their payment account.
4. Client Website Link
   • For e-merchants wishing to integrate Mandopay, the official link to the website where the solution will be used is required.

Compliance and Data Protection

We prioritize the protection of personal data required for our services. All data collected under the KYC policy is processed in compliance with GDPR regulations and transmitted securely to the relevant payment providers, who also ensure compliance with these standards.

KYC Policy for Customers

Depending on the integration type, the following rules apply:

1. On the MANDOPAY Marketplace
   • Customers wishing to order products or services must create an account for security and compliance reasons. Mandopay ensures that necessary data is made available to payment providers. Account management and secure browsing are the responsibility of the respective e-merchants.
2. On Merchant Websites
   • MANDOPAY does not manage user account creation on merchant websites. Each merchant is responsible for securing user navigation and data processing on their platform. Mandopay acts solely as an intermediary providing authorized PSPs.
   • For customer complaints about orders on a merchant’s site using Mandopay, any required documentation will be forwarded to the relevant payment provider and merchant for resolution. Mandopay does not directly handle these claims.

Conclusion

Our commitment to the KYC policy reflects our dedication to ensuring strict compliance through the payment providers we integrate. Mandopay acts as a technical facilitator, providing a secure and reliable platform for businesses.