PayServices Inc. PayServices 2015 All rights reserved

Transcription

1 PayServices Inc. Description of an account registration and verification process Including banking and financial regulations KYC / AML (Know Your customer / Anti Money Laundering) processes. PayServices 2015 All rights reserved 1

2 PayServices E-Wallet Account KYC/AML positive verification is mandatory before ANY transaction, conversion, approval, signature or any value on account is possible All accounts before they can do ANY transaction, conversion of currency or value, have funds deposited, transmitted to or from their account must be verified and open. All accounts verifications are done by 2 compliance officers who check the data, pictures, documents provided independently. It is only when the two compliance officers approve both the information submitted that the account is considered verified. Verification is done via the EZ-SignUP process as described in the next slides. The account is monitored for suspicious activities If the account is verified and no suspicious activity is detected, the account is accepted and is open & it gets the following status: PayServices 2015 All rights reserved 2

3 KYC / AML Procedures PayServices 2015 All rights reserved 3

4 A user can also register online on PayServices.com using any browser but if he/she want to validate his / her account (to start using it) the user must do the EZ-SignUp using the Butterfly Browser (Mac or Windows version) or installing and running the Butterfly Smart App on their phones PayServices 2015 All rights reserved 4

5 After the user has recorded his / her personal information they will now link their PC / MAC to their account and choose a PIN number to be able to open the Butterfly Browser App Now that the user s PC / MAC is referenced and connected to the account (we also register each IP address connection for full traceability) when the user tries to use his Butterfly Browser, the browser will ask him if he wants to do the EZ-SignUp. Without doing it and being verified to be Ok, the user can only use the Butterfly Browser but do no transactions with his account PayServices 2015 All rights reserved 5

6 The EZ-SignUpwill allow the user to register his information for KYC / AML purposes by first taking an ID picture with the PC/MAC camera (or uploading a photo), then take a picture of each side of a government issued ID / Driving license or passport, then make a short Video, holding the ID registered in the user s hand and reading the script on the yellow background. PayServices 2015 All rights reserved 6

7 When all the information has been given, pictures taken and all is uploaded automatically via the system, the PayServices back-office receives a notification that an account has to be verified. All information given is checked by 2 compliance officers and compared to provided evidence and if all is OK including name and information check against OFAC database is clean then the account is verified and can start doing transactions. PayServices 2015 All rights reserved 7

8 PayServices also intends to market the KYC / AML as a service to third parties PayServices 2015 All rights reserved 8

9 An individual can open a business (merchant) account as well. This account is always attached to at least one verified person s PayServices account. To open a merchant account, the individual opening the merchant account has to provide supporting documents to attest for the existence and good standing of the business. Only after completing all the required tasks, providing required documents, approval of all directors and shareholders by having each open his own PayServices individual verified account, designating final verified beneficiaries, only then the account can be submitted for review and verification to be approved only after two compliance officers approve the merchant account: PayServices 2015 All rights reserved 9

10 Any shareholder or director of the company must: - Have a verified PayServices account - Must confirm (digitally sign) that he is a director - Must be designated as beneficiary or not PayServices 2015 All rights reserved 10

11 Other information can be added for a merchant account such as his DUNS number, NAICS code and logo Butterfly magic Texting with PIN code signature Saving After update you can always save the data update into your merchant profile Confirm will send a Butterfly Magic Texting to the director or shareholder specified asking him to confirm that he is a director or shareholder in the company. Only when all mentioned individuals have confirmed by signing in with their PIN code (they must also open a PayServices verified account beforehand) then it is possible to submit for verification the merchant account. Each merchant account is verified and need to be confirmed By two PayServices compliance officers PayServices 2015 All rights reserved 11

12 Verified merchant accounts can for each function, the Master Enabled Merchant account holder by default has full access to all administrative functions on his accounts (unless blocked by PayServices, not activated by PayServices or not available) He can also delegate roles to other individuals (unless blocked by PayServices, not activated by PayServices or not available) with full agreement by these individuals that must also have a PayServices verified and open account. Every delegation has an acceptance of delegation process with acknowledgement by all parties of roles and processes. Some functions can be activated by user but also need activation by PayServices. Example, Commodities Accounts (not yet functional) are data only accounts used by commodities traders such as Cotton or Cacao. PayServices IT tool can help trading companies IT track data to manage traders rights on such transactions & the commitments on such transactions. PayServices 2015 All rights reserved 12

13 An account that is verified, can also digitally sign as a verified user. This can be used in the PayServices system in various: - Contracts - Transactions - Processes - Appointments - Surveys - Elections - Etc. PayServices 2015 All rights reserved 13