Improved Know Your Customer (KYC) Document Upload Process

April 11, 2019 Payments
Shubert Koong
By Shubert Koong, Lead Product Marketing Manager, WePay
Shubert Koong
By Shubert Koong, Lead Product Marketing Manager, WePay

Today, we released improvements to our Know Your Customer (KYC) document upload experience that give merchants better clarity about what documents they need to provide and about the review status of uploaded documents.

To comply with financial regulations, WePay must collect and verify KYC information from all merchants before we can pay out any funds in their WePay account to their bank account. The vast majority (95%+) of merchants are verified in real-time on submission of their information. However, if there is an issue, WePay asks merchants to securely upload scans or images of specific physical documents, such as a passport or government issued ID, to help verify the merchant’s identity as quickly as possible. WePay reviews the documents and most merchants are approved and fully onboarded within 48 hours.

Our Merchant Center now has an improved status page that shows merchants which documents they have uploaded and what the status of the document review is. The status page contains a card of information for each document that the merchant uploads. Each card includes:

  • Type of document that was uploaded (e.g. passport)
  • Date and time when the document was uploaded
  • Status for each document: in review, approved, or declined
  • If a document is declined, a reason why it was declined

We have also refreshed the email template used to communicate the need for document uploads to more prominently highlight the custom messages that WePay Risk Analysts include in emails to guide merchants through the onboarding process.

We are committed to continuously improving the overall experience for our merchants, and these improvements to the document upload process will help merchants get onboarded more smoothly.

About the author

Shubert Koong

Shubert Koong, Lead Product Marketing Manager, WePay

Shubert Koong is the Lead Product Marketing Manager at WePay. Previously, he has held marketing and management roles at PayPal and HP. He is a graduate of Yale University and the University of California-Berkeley Haas School of Business. Shubert's hobbies include archery, tennis, and playing board games.

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