User KYC
This is the page explaining the user KYC.
The Axis system is KYC dependent- meaning only orders from a user that has done KYC will be fulfilled. If a non-KYC user initiates an order the order is left in a pending state until the user performs KYC, or their KYC data is posted to the B2CUpdateKYC endpoint.
There are 2 types of KYC for a user
Basic KYC
Extended KYC (E-KYC)
With Each KYC category there are transactional limits.
Two Ways of doing KYC
Method 1
This is for B2C merchants that have already done KYC for their users
This is done by posting your users' existing KYC data to this endpoint
POST https://exchanger-api.fuspay.finance/api/v1/no-auth/Axis/B2cUpdateUserKyc
Method 2
This is for B2B merchants that haven't done KYC for their users
While creating on-ramp and off-ramp orders, Axis requires some KYC data (first name, last name, email, & phone number). If the above KYC data is not on our users KYC database, Axis will return a KYC URL where your user can perform a one-time transactional KYC .
Third-Party Payments
Overview: Third-party payments involve a transaction where a party other than the buyer makes the payment.
Considerations: Users are advised against using third-party payments within the Axis system because:
KYC Requirements: Orders from users who have not completed KYC will remain in a pending state until KYC is finalized, delaying transaction processing.
Potential Errors: Third-party transactions can lead to complications, including KYC errors that may hinder order fulfillment.
KYC Errors
Overview: KYC errors can occur due to incomplete data submission or mismatched information during the KYC verification process.
Implications:
Orders will not be fulfilled if KYC errors exist.
Resolution of these errors is necessary before order processing can continue.
Resolution Steps:
Review Notifications: Users should check the error notifications provided by the system.
Update Information: Correct any inaccurate or incomplete information as indicated.
Re-initiate KYC: If necessary, users may need to re-initiate the KYC process to ensure compliance with the required standards.
To ensure smooth order fulfillment, it is crucial for users to promptly address KYC errors.
Last updated