Verification (KYC) Policy

1. Why we verify

We verify every seller to prevent fraud and financial crime, protect customers and meet legal and partner requirements.

2. Individuals (KYC)

Individuals verify their identity with a government-issued ID and a live selfie check through our verification partner. We may also confirm contact details and screen against sanctions and watchlists.

3. Businesses (KYB)

Business accounts are coming soon. When they open, Businesses provide registration details and documents, information about directors and beneficial owners where required, and complete verification for an authorised representative.

4. What we collect, and what we do not

We collect only what is needed to verify you. Identity documents are processed by our verification partner and are not stored on BasanuPay’s public servers.

5. Statuses

Your verification will show as Not started, In progress, Submitted, Under review, More information required, Verified, Rejected or Suspended. We will email you when your status changes.

6. Ongoing monitoring

We monitor activity for unusual patterns and may ask you to re-verify or provide more information. We may suspend payment features while a review is in progress.

7. Payout accounts

Payout bank accounts are reviewed before use and should be in your name or your verified business’s name.

Contact

Basanu Global Solutions Ltd (RC 9493334), Lagos, Nigeria. Email hello@basanupay.com.