If you are a US Unlocked Card holder or in the process of becoming one then please read this article.
Due to new KYC regulations the banks now require all customers to provide additional information regarding the government issued photo ID that was uploaded at the time of the ID verification process.
KYC stands for ‘Know Your Customer’, a crucial term in the banking industry especially in dealings with credit and debit cards. A solid KYC policy helps preventing credit/debit card fraud.
Last week, NXpay performed an upgrade to the system due to these new KYC regulations which changed the way our system communicates with NXpay. The changes are being implemented by our developers as we speak.
Next time, when you want to load your US Unlocked Card, you will be prompted to provide the following information regarding the government ID you uploaded:
- ID type
- ID number
- Country issued
As soon as you submitted this data which only takes you a minute, you can proceed to load or apply for your card. This is a one-time procedure only.
As for the security of your sensitive information: we will handle it in the same manner as how we handle the documents that you have uploaded. We use the latest encryption methods to make sure your information is safe. Please, make sure to never share your password with anyone, to change your password once in a while and to create strong passwords. Your information will not be shared unless we are audited in which case we will be required to show that we have a solid KYC policy in place.
Regulations like these might seem tedious but at the end of the day it is you, the card holder, who is better protected. Should you have any questions or concerns, please do not hesitate to email us at [email protected]
Stay posted for more updates on improved functionality of your US Unlocked Card soon!