Last updated: January 05, 2021
This document seeks to set forth the KYC due diligence procedure for Astripay as follows:
ASTRIPAY’S KYC PROCEDURE
Registration is easy and open to all. Click the ‘Sign Up’ link on the top right-hand corner of our website. Complete and submit the registration form. You will be taken through an email verification process as part of your registration. Your registration details will be verified and your account will be activated. You will be notified at every stage via your email on record with us.
Our KYC approach seeks to achieve the following:1. Establish customer identity
2. Understand the nature of the customer’s activities (primary goal is to satisfy us that the source of the customer’s funds is legitimate).
3. Assess money laundering risks associated with that customer for purposes of monitoring the customer’s activities
In order to achieve the above, we collect the following information and documents:
A. For Identification:
A valid identification document preferably government issued such as international passport, National Identification documents, Voters card, Driver’s license or any such valid document that are easy to verify. Such ID would contain the customers name, date of birth and other personal information as the case may be
B. For address verification:
We collect utility bills, Bank statement or a rental/lease agreement that bears the customer’s name. These documents must of a necessity bear the same name as the one stated in the ID document in (A) above.
C. Bank Account:
We collect bank account number and use an API to do automatic verification. The idea behind this is that the account of the person is linked to the customer’s BVN which is a unique identifier.
In the event that these conditions are not met by the applicant/customer we decline to do business until such a time as the person meets the KYC requirements.