Tag: beneficial ownership

Beneficial Ownership: How Does It Affect Payment Facilitators’ Underwriting Process?

If payment facilitators were a fast food chain, the merchant experience might be their secret sauce – that special component that sets them apart from their competitors. The model is known for simplifying merchant applications and reducing unnecessary paperwork.

There is a balance, however, between reducing friction and protecting the payments system from bad actors.

KYC 2.0: Beneficial Ownership Rule Takes Effect This Week

With the effective date of FinCEN’s new beneficial ownership rule coming up this week, we hope you have your plans in place. Still looking to understand the rule? We’ve pulled together some previous PaymentFacilitator coverage to help guide you through.

Holy KYC, Batman! New 2018 Rules Require PFs to Perform KYC on up to Five Owners

Don’t worry, technology is on your side and the PF model and frictionless underwriting will endure.