Purpose
Know Your Customer (KYC) is the foundation of a trustworthy payment network. Every merchant onboarded to FalconPay goes through a structured verification process before they process a single transaction — and periodic refresh afterwards. This page explains what we check, why, and what merchants should expect.
Identity Verification
Before activating an account we verify the identity of:
- The corporate entity — registered name, registration number, jurisdiction of incorporation, registered address.
- The directors and authorised signatories — government-issued identity documents, residential address, date of birth.
- The beneficial owners holding 25% or more of equity or control, with enhanced disclosure where risk factors are present.
Business Verification
We verify the legitimacy of the business itself through:
- Company registration documents issued by the relevant corporate registry.
- Valid operational licences where the vertical requires one — gaming (MGA, UKGC, Curaçao, SEGOB, Coljuegos, MINCETUR, AIGF, etc.), financial services (FCA, BaFin, DFSA, etc.), crypto (MSB, VASP, MiCA where applicable).
- Beneficial ownership (UBO) disclosure and supporting documents.
- Website and product verification — the live service, URL, and product offering must match what is declared in the application.
- Bank account verification — a named bank account in the merchant's corporate name, in a supported jurisdiction, with evidence of control.
Ongoing KYC Monitoring
Verification is not a one-time event. Customer profiles are reviewed on a risk-based periodic schedule — typically annually for lower-risk profiles and more frequently for higher-risk ones. Material changes to the business (ownership, vertical, jurisdictions served, volume profile) must be notified to us and may trigger re-verification.
Risk-Based Assessment
Each merchant is assigned a risk rating based on industry, geography, volume profile, ownership complexity, product, and historical compliance behaviour. The rating drives:
- Depth of documentation required at onboarding.
- Frequency of periodic refresh.
- Transaction monitoring sensitivity.
- Approval thresholds within our compliance organisation.
Merchant Obligations
Merchants are responsible for providing accurate and complete KYC information, responding promptly to refresh requests, notifying us of material changes in advance where practicable, and maintaining valid operational licences for their vertical. Failure to meet these obligations may result in suspension or termination of service.
Data Handling
KYC data is handled under the terms of our Privacy Policy. Documents are stored encrypted at rest, access is limited to authorised compliance personnel on a need-to-know basis, and retention periods follow applicable AML/CFT record-keeping obligations.
Appeals
Merchants whose applications are declined or whose accounts are subject to KYC-based restrictions may request a review by writing to [email protected]. We respond to appeals within 14 business days with an outcome and, where permitted, the reasons.
KYC and compliance queries: [email protected]