Issued by Krepling Inc.
Effective Date: 20th June 2025
This Know Your Customer (“KYC”) Policy outlines the standards, procedures, and documentation required by Krepling Inc. (“Krepling”) for verifying the identity of all merchants using Krepling Pay. It ensures compliance with U.S. regulations, including the Bank Secrecy Act (BSA), the USA PATRIOT Act, card network requirements, and standards from our sponsor banks.
What This Means:
We follow strict rules to confirm who you are before allowing you to use Krepling Pay.
This policy applies to:
All new and existing merchants on Krepling Pay
All business types (except those on our Exclusion List)
All geographic regions where Krepling Pay operates
What This Means:
All Krepling Pay merchants must meet our KYC standards, unless they’re on the restricted list.
KYC is conducted in compliance with:
Bank Secrecy Act (BSA)
USA PATRIOT Act Section 326
FinCEN guidance
Card Network rules (Visa, MasterCard, Amex, Discover)
Sponsor bank requirements (Wells Fargo, Synovus, Deutsche Bank)
What This Means:
Our verification rules follow U.S. laws and global banking standards.
We collect and verify the following:
Individual (Sole Proprietor):
Full legal name
Government-issued ID (driver’s license or passport)
Social Security Number (SSN)
Contact information (email, phone, address)
Business Entity:
Legal entity name
Employer Identification Number (EIN)
Articles of Incorporation or business license
Names and SSNs of beneficial owners and control persons
Physical business address
Website or marketing materials
What This Means:
We check your identity and business legitimacy before onboarding you.
A merchant site inspection may be required, especially for:
High-risk businesses (see Exhibit B)
Drop shippers or third-party fulfillment models
Businesses without a physical office location
Inspections may include:
Third-party or internal review
Confirmation of business operations
Photos and documentation of business premises
What This Means:
We may inspect your physical location or operations to make sure they’re real.
Krepling classifies merchants as:
Low/Medium Risk: <$15M annual volume, swiped/chip-read >65%, future delivery <30 days
Low Volume High Risk: <$2.5M volume, high future delivery, high keyed rates
High Risk: >$2.5M volume, >$5K average ticket, future delivery >30 days
Each category requires:
Increasing levels of documentation
Deeper due diligence
Additional verification (e.g., financial statements, PGs)
What This Means:
The higher your risk level, the more documents and checks we need.
Krepling continuously monitors:
Changes in business structure, ownership, or activity
Transaction volume and patterns
Updated sanctions and watchlists (e.g., OFAC SDN)
Periodic KYC re-validation may be required for:
High-risk or high-volume merchants
Businesses with multiple chargebacks or flags
What This Means:
We check accounts regularly and may ask for updated documents over time.
EDD is required for:
High-risk merchant categories (Exhibit B)
Merchants with complex structures or international operations
Merchants flagged for suspicious activity
EDD may involve:
Site visit and ownership interviews
Additional financial records
Review of refund/return policies
What This Means:
Risky or complex businesses must go through extra checks.
KYC records are maintained securely for at least 5 years after the end of the merchant relationship. These include:
All documents submitted
Verification logs
Notes from site inspections or interviews
What This Means:
We securely store your KYC documents for at least 5 years.
If a merchant fails to complete KYC or submits fraudulent documentation:
The account may be suspended or declined
Existing funds may be held until resolution
Reports may be filed with law enforcement or regulators
What This Means:
If KYC is not completed properly, we can freeze or close your account.
For questions regarding this KYC policy, contact:
Email: compliance@krepling.com
What This Means:
You can contact our compliance team if you have questions about verification.
© 2025 Krepling Pay
Krepling Pay is a global payment gateway offering services through its subsidiaries and licensed partners. Payment processing and money transmission services are provided in accordance with local licensing requirements, regulatory frameworks, and financial conduct standards. In the United States, such services are offered through Krepling Inc., which maintains compliance with applicable federal and state money transmission laws. For licensing details and regulatory disclosures, please visit our Legal page.
