What are KYC obligations?

KYC stands for Know Your Customer.

They are mandatory business documents that Smthgood will need to have in order to set up the payment process for non-Stripe Sellers. As Smthgood will be acting as a liaison to hold a Stripe account on behalf of Sellers to collect the sales amounts, we will require proper documentation to support all financial transactions between Stripe, Smthgood and non-Stripe sellers. These requirements are set by regulators and are intended to prevent abuse of the financial system.

If you are a Seller with Stripe account, please refer to “ Stripe Integration” on steps for Stripe integration with Smthgood. You will submit your KYC documents upon setting up your Stripe account directly on Stripe. No information will be shared with Smthgood in this case.

For more information, please refer to Stripe Support article: https://support.stripe.com/questions/know-your-customer-obligations