Last updated on
August 15, 2023

Q: What is the onboarding process in a crypto processing system?

A: The onboarding process in a crypto acquiring system is when new users or merchants are registered and verified before they can start using the platform to process crypto transactions. This process ensures that only legitimate users are granted access to the system and prevents fraudulent activities.

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

A: The steps are as follows:

  1. Registration: Users must first register on the platform by providing their personal information, such as their name, email address, and phone number.
  2. Verification: The platform will verify the merchant’s identity by requesting additional information, such as company information, shareholder data, and other relevant documents.
  3. Compliance checks: Once the user's identity is verified, the platform will conduct compliance checks to ensure that the user has no previous record of fraudulent activity or is not on sanctions lists.
  4. Company verification: After the individual is verified, then the company will finish checks by verifying the company's ownership, structure, and history. This step is only required for businesses that use the Pro and Enterprise plans
  5. Approval: Once all verification and compliance checks are passed, the business will be approved to use the platform and can start processing crypto transactions.

Q: How long does the onboarding process usually take?

A: The duration of the onboarding process can vary depending on the complexity of the platform and the completeness of the information. However, completing the onboarding process typically takes 4-8 hours.

Q: What documents are required for the onboarding process?

A: Individual users will be required to provide a government-issued ID or passport, proof of address, and other relevant documents to verify their identity and comply with regulatory requirements. If the user is registering as a company, the following additional documents may be required:

  1. Business license: A business license is a document that proves the company is registered to do business in a particular jurisdiction.
  2. Tax ID number: A tax ID number is a unique identifier assigned to a business by the government for tax purposes.
  3. Articles of Incorporation: Articles of Incorporation are legal documents that establish the existence of a corporation and outline its purpose, structure, and governance.
  4. 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.
  5. Other relevant documentation: Other documents may also be required to verify the company's legal status, such as a certificate of good standing or a business bank account statement.

Q: Can I start using the platform immediately after registration?

A: While you may be able to view KUNA Pay's features and interface after completing the registration process, you will not be able to receive payments or use other advanced features until your business has been verified and KUNA Pay has approved your account.

Q: What countries are currently not served by KUNA Pay?

A: Our product is available in most countries; 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.