KYC Sharing

Overview

KYC Sharing allows merchants to independently perform KYC verification and submit the user’s KYC information to Swiftramp for reference purposes. Swiftramp does not verify the submitted information but stores it for compliance and record-keeping.

Steps for KYC Sharing

Create the User

Before KYC information can be shared, the user must be created using the create user API. Read more about the API here.

Submit KYC Information

• Use the KYC Sharing API to provide the user’s documents and details. Read more about the API here.
• Ensure the documents meet the required specifications (see below).

Store for Reference

Swiftramp retains the KYC information for future reference but does not perform the verification process.

Add a Bank Account (For Indian Users)

• Once KYC is approved, use the Update Bank API to add a bank account for Indian users. Read more about the API here.
• This step is only required for Indian users and does not apply to non-Indian users.

Document Requirements

To ensure smooth processing, documents submitted through the KYC Sharing API must conform to the following specifications:

Supported File Formats

• .pdf, .jpg, .png, .xml, .zip

Maximum File Size

• Less than 2 MB

Key APIs for KYC Sharing

Important Notes

Merchant Responsibility

• KYC verification is assumed to be complete before submitting the information to Swiftramp.
• Only verified users can perform operations like on-ramp and off-ramp transactions. Once the documents are shared, a user is assumed to be approved.

Bank Account for Indian Users

• Adding a bank account is mandatory for Indian users after KYC approval.
• This step must be performed manually through the API unless the KYC SDK is used.

Compliance

• Ensure that submitted documents adhere to the specified format and size requirements to avoid errors.

KYC Sharing provides a streamlined approach for merchants who wish to manage KYC verification independently while leveraging Swiftramp’s platform for record-keeping and compliance.