"Know Your Customer" Policy

RapidCents collects information from account holders before you can begin using the services. This is done in order to verify accounts and businesses and reduce abuse of the payment services offered. 

While the information required varies globally, here is the general data collected from a business or its representatives,

• Business or trade name
• Physical address and website URL
• Business email and phone number
• Business identification number
• The nature of your business or activities

Other personal information that we may collect includes name, birthdate, and government-issued identification number of your

• Beneficial owners
• Principals
• RapidCents Account Administrator

For business owners who are not 18 years old, a Representative approved by your board or an authorized officer is required. This representative must be your legal guardian or parent. Any such board, authorized officer, or representative will be responsible to RapidCents and bound by the terms of the agreement.

Once the documents have been submitted, RapidCents will review, verify, and approve all the information in order to open a merchant account. If at any point, any information changes, it must be promptly updated, and changes must reflect on your merchant account.

We may also reach out to you at any time to verify information provided to RapidCents, including that about your beneficial ownership or control of the business, validate the information you provided, verify you or your Representative’s identity, and assess the risk associated with your business.