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

1. Basic KYC

2. Extended KYC (E-KYC)

With Each KYC category there are transactional limits.

Two Ways of doing KYC

Method	Ideal for	Note
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:

1. Review Notifications: Users should check the error notifications provided by the system.

2. Update Information: Correct any inaccurate or incomplete information as indicated.

3. 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.