Padiepal Know Your Customer (KYC) Policy
Introduction
To ensure compliance with applicable regulatory standards and to safeguard our platform and users against fraud, money laundering, and unauthorized activities, all Padiepal accounts are required to complete the Know Your Customer (KYC) verification process.
1. Individual (User) Account Requirements
All individual users must provide the following:
A valid government-issued identification number
A clear image of the ID document (front and back, where applicable)
A selfie photograph holding the same ID, ensuring that both the face and ID details are clearly visible
2. Merchant Account Requirements
For merchant or business account verification, the following documents are required:
A valid government-issued ID of the business owner or authorized representative
Business identification number (where applicable)
Business registration certificate or proof of incorporation
3. Verification Process
To proceed with KYC verification:
Users and merchants must install the Padiepal Mobile App (available on Play Store and iOS)
Applicants are required to apply for a Padiepal MasterCard or Visa Card through the mobile application
KYC verification will only be initiated after successful card application
4. Processing Time
KYC verification begins only after the purchase or application of a Padiepal MasterCard or Visa Card
The verification process typically takes 1 to 7 business days
In certain cases, additional review may be required, which could extend the processing time
5. Compliance & Security
Padiepal is committed to:
Protecting user data with strict security measures
Ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations
Monitoring transactions for suspicious activities
Failure to complete KYC verification may result in restricted access, limited features, or account suspension.
6. Updates to Policy
Padiepal reserves the right to update this KYC Policy at any time to reflect regulatory changes or improvements to our compliance procedures.
