Our commitment to security and regulatory standards through meticulous KYC procedures.
Know Your Customer (KYC) is a mandatory process of identifying and verifying the identity of our clients. At VantPay, we adhere to strict regulatory standards to ensure a safe and secure financial environment for all participants.
The Central Bank of Nigeria (CBN) and other regulatory bodies require KYC to prevent money laundering, terrorist financing, and other illegal activities. It helps us protect your account and the entire financial ecosystem from fraud.
For individual merchants, we require: A valid government-issued ID (NIN, Driver's License, International Passport, or Voter's Card), Bank Verification Number (BVN) for identity validation, and proof of address (Utility bill within the last 3 months).
For registered businesses, we require: Certificate of Incorporation (CAC documents), Tax Identification Number (TIN), Memorandum and Articles of Association (MEMART), and ID verification for all directors/significant shareholders.
Once you upload your documents, our compliance team reviews them manually and through automated systems. This process typically takes 24-48 business hours. You will receive an email notification once your account status is updated.
All KYC documents are encrypted and stored in secure, restricted-access servers compliant with the Nigeria Data Protection Act (NDPA). We do not share your sensitive documents with unauthorized third parties.
Failure to provide accurate or complete KYC information may result in temporary suspension of your account, limits on transaction volumes, or delayed settlements until verification is successfully completed.
If you encounter any issues during the verification process or have questions about specific document requirements, please reach out to our compliance team at [email protected].