If you want to issue virtual cards, connect to a payment API, or launch a digital wallet — you’ll need to pass KYB.
This isn’t just paperwork. KYB protects your business, ensures transparency, and allows you to legally access global payment infrastructure. Let’s break it down — clearly and practically.
What is KYB?
KYB (Know Your Business) is a mandatory due diligence check for companies looking to use financial or payment services. It confirms that your business is real, legal, and trustworthy.
KYB is required by law — it’s part of global AML (Anti-Money Laundering) and sanctions compliance. Banks, card issuers, and fintech providers must verify their partners.
If you plan to issue virtual cards via API or accept user payments — you must complete KYB.
KYB vs. KYC: What’s the Difference?
- KYC (Know Your Customer) verifies an individual: passport, ID, selfie.
- KYB (Know Your Business) verifies a legal entity: company structure, documents, directors, and UBOs.
KYC is used when onboarding individual users. KYB is for businesses — especially when launching fintech products, platforms, or white-label solutions.
When Do You Need KYB?
You’ll need to complete KYB if you plan to:
- issue virtual Visa cards under your brand,
- connect a payment API to your platform,
- launch a fintech app or digital wallet,
- enable users to store and spend funds (marketing, SaaS, EdTech, crypto, B2B payouts).
Even if your product uses crypto or offshore infrastructure — legal providers require KYB. Without it, your business can’t access licensed payment rails.
Documents Required for KYB
Here’s what you typically need (required by WantToPay and most partners):
- Certificate of Incorporation
- Articles of Association / Company Constitution
- Company Extract or Certificate of Good Standing (recent)
- Passport/ID of directors and UBOs
- Ownership structure chart (if layered entities exist)
- Proof of company address (utility bill, bank letter, lease)
- Short description of your business model and card use case
You don’t need to share financial data or bank statements. Only basic corporate documents.
How the Check Works
- You fill out a short onboarding form.
- Upload your company documents (PDF scans are fine).
- Our AML officer verifies your legal status, structure, country, and industry.
- If needed, we ask for clarification or additional docs.
- Once approved, we sign the agreement and activate your test API access.
⏱ KYB usually takes 1–3 business days.
Why KYB Matters
KYB is essential for launching a legal card product. Without it:
- the issuer bank cannot release Visa BINs,
- your business risks suspension or rejection,
- your clients and partners can’t rely on long-term service.
Passing KYB gives you:
- a legal service agreement,
- access to licensed Visa infrastructure,
- full API functionality under your brand,
- long-term stability and global trust.
Real Examples
❌ Failed Case: Transport company in Thailand
A client submitted a Thai-registered company, claiming it would be used for fintech operations. During KYB, we found:
- the real director was different from the one listed,
- negative reviews in public records,
- no connection to IT or financial services,
- no office or verifiable business presence.
Result: denied. To issue cards, a company must match the product’s industry and show a transparent structure.
✅ Passed Case: Licensed finance company in the UAE
A client submitted a UAE company with proper documents:
- registration certificate,
- active financial services license,
- utility bill for physical office address,
- product description and use case.
Result: approved. The partner now issues white-label Visa cards via WantToPay API for clients across the MENA region.
Why You Shouldn’t Fear KYB
Some founders feel anxious about KYB — especially if it’s their first time. But in reality, it’s not a financial audit or intrusive screening.
- You only provide basic company docs.
- You don’t share banking activity or revenue.
- All checks are handled confidentially by our licensed AML officer.
- Your data is never shared with third parties.
KYB protects your business too. It confirms you’re operating legally, reduces the risk of account freezes, and builds trust with banks, clients, and investors.
How to Prepare for KYB
- Choose a transparent jurisdiction (UAE, Hong Kong, UK, etc.)
- Have your company docs and ID ready
- Make sure your business model fits the use case (e.g. B2B, SaaS, digital services)
- Be ready to explain how you’ll use the virtual cards
Not sure what to submit? We’ll guide you step-by-step.
Let’s Launch Cards Together
WantToPay will help you onboard and connect to the Visa infrastructure via API.
- We support transparent businesses in fintech, SaaS, marketing, Web3, and digital services
- You’ll get access to white-label prepaid cards and direct BIN issuing
- We provide legal support, onboarding advice, and fast integration
📩 Message us via @WantToPayPartnerBot to:
- ask questions about KYB,
- get a full checklist of documents,
- submit your company for review,
- start issuing cards under your brand.
Tags:
#KYB #KnowYourBusiness #fintechonboarding #virtualcards #cardprovider #VisaAPI #white-labelcards #compliancecheck #B2Bfintech #legalstructure #APIintegration #AMLandKYC #WantToPay #cardissuingAPI #launchcards #fintechplatform