redotpay KYC is an integral part of RedotPay’s onboarding process. It refers to the procedures used by businesses and financial institutions to verify and gather information about their customers. The primary objective of KYC is to prevent illegal activities such as money laundering, terrorist financing, fraud, and identity theft.
The redotpay KYC process involves collecting various types of information from customers, including their legal full name, date of birth, and identification documents such as identity cards, passports, or driver’s licenses. Additional information may be required based on the nature of the business relationship. This information is crucial for establishing customer identity and assessing their risk profile.
To enhance the efficiency and accuracy of redotpay KYC process, RedotPay has partnered with Sumsub, a leading service provider in the industry, for our electronic KYC (eKYC) process.
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