Overview

Know Your Customer (KYC) is a compliance process to verify user identity before they can perform operations like on-ramp and off-ramp transactions. KYC ensures compliance with local and international regulatory standards, enabling secure and trustworthy transactions.

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Types of KYC Processes

Saber provides multiple approaches to KYC:

1. KYC Sharing:

   • Merchants perform the KYC verification independently and submit the user's KYC details to Saber for reference.
   • Saber stores the information but does not perform verification.
   • Bank account addition is required for Indian users (via API).

2. KYC Widget:

   • Saber manages the entire KYC process, including document collection, verification, and status updates.
   • Bank account addition for Indian users is automated. (Can be removed optionally)
   • Ideal for merchants seeking a seamless, automated solution.

3. KYC Partner URL:

   • Saber's partner manages the KYC process, including document collection, verification, and status updates.
   • This is mandatory for certain flows:
     • AED Onramp (through Sumsub KYC URL)
     • USD Onramp (through Persona KYC URL)
   • Merchants generate a KYC URL through an endpoint and redirect their users to the KYC URL.

Depending on the type of flow, different KYC approaches are supported as listed:

Steps in the KYC Process

1. Create the User:

   • Before initiating KYC, ensure the user is created in the Saber system.

2. Complete KYC Verification:

   • For KYC Sharing: Submit the user's details via API.
   • For KYC Widget: Use the Widget to automate verification.
   • For KYC URL: Generate KYC URL via Initiate KYC API.

Key Points

• Indian vs. Non-Indian KYC:

  • Indian Users:
    • Documents Required: Aadhaar and PAN.
    • Must add a bank account post-KYC approval. (for INR Offramp)
  • Non-Indian Users:
    • Documents Required: Passport, Driver's License or locally accepted National ID and proof of address.

• KYC Approval:

  • Only users with an approved KYC status can perform on-ramp and off-ramp transactions.

• Bank Account Addition:

  • Indian Users:
    • Post-KYC approval, adding a bank account is mandatory for offramp transactions.
    • Can be automated via widget or manually handled via API.
  • Non-Indian Users:
    • This step is optional and depends on the type of flow.