Glossary
KYB (know your business)
KYB, know your business, is the verification of a business customer, in payments a merchant: company registration and good standing, directors and beneficial owners and their identity, the bank account the money will go to, the website and what it actually sells, its merchant category and risk, and the licences its activity needs. The licensed payment business performs it before activating a merchant and refreshes it during the relationship; the acquirer and the schemes require it and hold the business responsible for the merchants it brings.
What is checked
Registry extracts and the ultimate beneficial owners above the ownership threshold; identity of directors and owners with the same checks as KYC; sanctions and adverse media; the bank account’s ownership; the website’s terms, refund policy, descriptor, contact details and prohibited content; the processing history, chargeback ratio and previous acquirers; the match between the declared category and the real activity.
After onboarding
Monitoring of volume, ticket size, chargebacks and refunds against the merchant’s profile, periodic re-verification, review when owners or the website change, and offboarding with a reserve held for the chargeback window.
On the platform
Tranzify’s back office onboards merchants with company data, documents and statuses, lets the client’s compliance team request documents through tickets and approve or decline, assigns the category, limits and fees, and records every change for audit; the decision and the responsibility are the licensed client’s.
Updated: 2026-11-08