How the KYB process works for our clients' buyers How the KYB process works for our clients' buyers

How the KYB process works for our clients' buyers

What is the KYB process?

In today's digital age, it has become increasingly important to take measures to prevent fraud and money laundering. One of these measures is the Know Your Business (KYB) process.

The KYB is a set of procedures that we follow at Capchase to verify the identity and legitimacy of the companies we work with. This includes our client's customers (buyers) that use Capchase Pay.

The process may seem daunting, but it is necessary to ensure compliance with regulatory requirements and maintain a safe business environment for us, you, and your customers. 

One of my customers got rejected during the KYB process. Why did that happen? 

Since our KYB process takes inputs from many different sources, we cannot cover all cases with a simple explanation. However, the main reasons for which a company may be rejected after going through the KYB process are:

  • The company is not incorporated, or the provided data does not match the registered records
  • The company is incorporated, but it is a legal entity assigned to a particular person, rather than a conventional company (i.e. sole proprietorships)
  • The company does business in an ineligible geography
  • The company or someone who owns and/or manages the company presents a high risk for sanctions, political exposure, or fraud risk

You can check your Buyer’s status directly on the Buyers page.

If you have any questions regarding the process, don't hesitate to send us a message at support@capchase.com.

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