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Glossary

KYC / KYB (Know Your Customer / Business)

Identity and business verification required to onboard customers or merchants and prevent financial crime.

POSE-Commerce

KYC/KYB are checks that verify individuals (KYC) or companies (KYB) before providing financial services. They include ID verification, ownership structure, sanctions/PEP screening, and risk scoring.

Payment providers must complete KYB on each merchant before processing, and may re-verify periodically. Strong KYC reduces fraud and chargebacks, while clear risk controls keep onboarding fast for legitimate businesses.

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Related terms

Keep learning with these nearby definitions.

Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.
KYC / KYB (Know Your Customer / Business)