Regulation

Know Your Customer

Also: KYC, KYB

Regulated identity-verification of the merchant (KYB) and, where relevant, the merchant's customers (KYC).

KYB (Know Your Business) is the boarding checks an acquirer or PSP runs on the merchant: ID, ownership, sanctions, PEP, regulator status. KYC applies the same logic to end-customers in regulated verticals (gaming, FX, crypto). Done well, KYC/KYB unblocks faster boarding and lower reserves.

Related terms

Anti-money laundering

The regulatory regime that obligates payment institutions to detect and report suspicious activity.

Acquirer

The licensed bank or financial institution that holds the merchant's MID and settles card transactions on the merchant's behalf.

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