(KYC) Terms and Conditions
Effective Date: 24.02.2025
These Know Your Customer (KYC) Terms and Conditions ("KYC Terms") govern the process by which CuisPay ("we," "us," "our") verifies the identity of users who register and use our services. By accessing or using our platform, you agree to comply with these KYC Terms and consent to the collection, processing, and verification of your personal information as part of our compliance with applicable laws and regulations.
1. Purpose of KYC
We are committed to ensuring the safety and integrity of our payment system. As part of our regulatory obligations, we are required to verify the identity of our users to prevent money laundering, fraud, and other illicit activities. The KYC process helps us:
- Confirm your identity.
- Ensure compliance with anti-money laundering (AML) regulations.
- Protect your account from fraudulent activity.
2. KYC Process Overview
To access and use certain features of the Service, such as making transactions or receiving payments, you will need to complete the KYC verification process. This may include submitting the following information and documents:
- Personal Information: Full name, date of birth, nationality, and address.
- Government-Issued ID: A valid passport, driver’s license, or national identity card.
- Proof of Address: Utility bill, bank statement, or government-issued correspondence showing your name and current address.
- Additional Information: In some cases, we may request additional details or documents to verify your identity or comply with local regulations.
3. User Responsibilities
You agree to provide true, accurate, and complete information during the KYC verification process. You are responsible for ensuring that the documents you provide are valid, legible, and up to date.
If there are any changes to the information you provided, including changes to your identity, address, or contact details, you must promptly update your account to ensure the accuracy of your KYC records.
4. Data Collection and Privacy
We collect and process your personal data solely for the purpose of KYC compliance. This includes your identity verification documents and any other information you provide during the verification process.
We are committed to protecting your privacy and handling your data in accordance with our Privacy Policy. Your personal information will not be shared with third parties unless required by law or for the purposes of the KYC process.
5. Verification Process and Timeline
Once you submit your KYC documents, we will review them to verify your identity. The verification process may take up to 3 business days, depending on the volume of applications and the complexity of your documents. You will be notified via email or through the platform once your verification is complete.
If your documents are rejected, you will be informed of the reason, and you may be asked to resubmit updated or additional documents. We may also request clarification or further information to complete your verification.
6. Account Restrictions During KYC
Until your KYC verification is completed, certain features of the Service may be restricted. This may include limitations on deposits, withdrawals, and other transactions. In some cases, we may temporarily suspend your account if KYC information cannot be verified, or if we identify discrepancies in the submitted documents.
7. Failure to Complete KYC
Failure to complete the KYC verification process or provide the necessary information may result in:
- Limited access to certain features of the Service.
- Temporary suspension or termination of your account.
- Inability to process payments or withdrawals.
We reserve the right to refuse or discontinue your access to the Service if we are unable to verify your identity or if the information you provide is deemed insufficient or fraudulent.
8. Third-Party Verification Providers
We may use third-party verification services to assist in the KYC process. These third parties may collect and process your information on our behalf. By agreeing to these KYC Terms, you consent to the use of these third-party services and acknowledge that their use will be in accordance with our Privacy Policy.
9. Changes to KYC Requirements
We may update or modify our KYC requirements from time to time to comply with changing laws, regulations, or business practices. You agree to comply with the updated KYC requirements, and we will inform you of any significant changes to the process.
10. Compliance with Laws and Regulations
By using our Service, you agree to comply with all applicable laws and regulations related to KYC and anti-money laundering (AML) requirements. You acknowledge that we may share your KYC information with regulatory authorities, law enforcement agencies, or other entities as required by law.
11. Termination and Suspension of Account
If we suspect that your account has been used for illicit activities, or if your KYC verification cannot be completed satisfactorily, we reserve the right to suspend or terminate your account without notice. We may also withhold funds or take legal action if required to comply with applicable laws.
12. Indemnification
You agree to indemnify and hold CuisPay, its affiliates, and its employees harmless from any claims, liabilities, or damages arising from your failure to comply with these KYC Terms or from providing false or misleading information during the verification process.
13. Governing Law
These KYC Terms will be governed by and construed in accordance with the laws of European Union, without regard to its conflict of law principles. Any disputes related to the KYC process will be resolved in the courts of European Union.
14. Contact Us
If you have any questions or concerns about the KYC process or these KYC Terms, please contact us at [email protected].