KYC Process

What is KYC?

The KYC (Know Your Customer) process is a crucial security step we take to guarantee that assets are redeemed securely and precisely. Identity verification allows us to ensure that the assets are transferred to the legitimate owner, thereby preventing unauthorized transactions and potential fraud.

How do you handle KYC?

We use Veriff to handle KYC. Veriff is a GDPR compliant vendor that has security audits available on their website for anyone to view. We do not receive any of the data, and Veriff's data is deleted after 90 days per our Standard Operating Procedure with them.

Why is KYC required?

Currently, there is no method to ensure KYC verification for each blockchain transaction. Card owners on Cardtopia have the ability to sell to any wallet holder across various web3 marketplaces, without our ability to control or see the individual behind the wallet.

Consequently, we mandate a KYC procedure prior to card redemption. Failure to complete the KYC process will prevent us from dispatching the cards.

It's important to note that KYC is required only once. After your KYC is verified, you will not need to submit this information again, facilitating smoother transactions in the future.