Onboarding

Verification

Q: What are the steps involved in the verification process?

A: The specific steps are as follows:

1. Registration: Users must first register on the KUNA Pay by providing their personal information, such as their email address.
2. Company creation: User must create a company by setting the name and some additional fields.
3. Verification: KUNA Pay will verify the merchant’s identity by requesting additional information, such as company information, data about shareholders and representatives, and other relevant documents. Check details here: https://docs.kunapay.io/docs/verification
4. Compliance checks: Once the merchant is verified, KUNA Pay will conduct compliance checks to ensure that the user has no previous record of fraudulent activity or is not on sanctions lists.
5. Approval: If all the verification and compliance checks are passed, the business will be approved to use the platform and can start crypto payments.

Q: Is the verification process mandatory for all companies?

A: Yes, KUNA Pay requires verification for all companies to comply with Law of the Republic of Lithuania on the Legal Protection of Personal Data standards and to ensure a secure environment for transactions.

Q: How long does the verification process usually take?

A: The duration of the verification process can vary depending on the complexity of the platform and the completeness of the information. However, completing the onboarding process typically takes 2-8 hours.

Q: What documents are required for the verification process?

A: The specific documents required may vary depending on the verification type, but common ones include:

• a.  Government-issued ID: A valid passport, driver's license, or national ID card.
• b.  Proof of address: Utility bills, bank statements, or government-issued documents that display the user's name and address.
• c.  Selfie with ID: A photo of the user holding their ID, providing an additional layer of identity confirmation.
• d.  Business license: A business license is a document that proves the company is registered to do business in a particular jurisdiction.
• e.  Ownership documentation: The platform may also require documentation to verify the company's ownership, such as a shareholder agreement or a list of beneficial owners.

Q: Is my personal information safe during the verification process?

A: Yes, your personal information is secure during the verification process with KUNA Pay. The platform utilizes SumSub, a trusted and secure identity verification service, to handle and store user data. SumSub employs advanced encryption and security measures to safeguard sensitive information.

In addition, KUNA Pay is committed to compliance with the General Data Protection Regulation (GDPR) and the Law of the Republic of Lithuania on the Legal Protection of Personal Data. These regulations set stringent standards for the handling and protection of personal data, ensuring that your information is treated with the utmost care and in accordance with legal requirements.

Q: What happens if my documents are rejected during verification?

A: If your documents are rejected, KUNA Pay will provide reasons for the rejection. You may need to resubmit corrected or additional documents to complete the verification process.

Q: What countries are currently not served by KunaPay?

A: Our product is available in most countries around the world; however, there are a few countries where we currently do not offer our services. These countries include Afghanistan, Algeria, Belarus, Benin, Burkina Faso, Burma, (Myanmar), Cabo Verde, Cambodia, Central African Republic, China, Cuba, Crimea (region of Ukraine), Côte d'Ivoire, Congo, Democratic People's Republic of Korea, Dem. Rep. of Ethiopia, Dominican Republic, Donetsk (region of Ukraine), Eritrea, Federal Republic of Ambazonia, Ghana, Guatemala, Guyana, Guinea, Guinea-Bissau, Haití, Honduras, Iran, Iraq, Jamaica, Japan, Jordan, Kenya, Kosovo, Laos, Liberia, Lebanon, Libya, Luhansk (region of Ukraine), Mali, Morocco, Mozambique, Myanmar, Nagorno-Karabakh (temporarily occupied by Russia), Nicaragua, Nigeria, Northern Cyprus, Pakistan, Philippines, People's Republic of China, Russia, Senegal, South Sudan, Syria, Somalia, Sri Lanka, Trinidad and Tobago, Transnistria (temporarily occupied by Russia), territories of Georgia temporarily occupied by Russia (Abkhazia and South Ossetia), Uganda, USA, Vanuatu, Venezuela, Yemen, Zimbabwe.

Persons or entities from jurisdictions where a particular license or permit is required will not be served if we have not received such a permit or license.