What Is KYC? Know Your Customer Explained
KYC means Know Your Customer. In a business account application, it usually refers to checks on relevant individuals, such as owners, directors or.
Read guideThe business glossary
Plain explanations of the terms you meet in company and payment applications.
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What Is KYB? Know Your Business Explained
KYB means Know Your Business. It is the process of checking a company's legal existence, ownership and activity before or during a financial.
Read guideWhat Is a UBO? Ultimate Beneficial Owner Explained
UBO means Ultimate Beneficial Owner. It refers to an individual who ultimately owns or controls a business under the test applicable to the.
Read guideWhat Is AML? Anti Money Laundering for Businesses
AML means Anti Money Laundering. In financial services, it describes the framework of controls used to address the risk of funds connected with.
Read guideWhat Is an MCC? Merchant Category Code Explained
An MCC, or merchant category code, classifies a merchant's business activity within card payment arrangements. It is distinct from the wording.
Read guideWhat Is a Merchant Account?
A merchant account is part of the arrangement through which a business accepts card payments. In modern bundled services, the merchant may not.
Read guideWhat Is a Payment Gateway?
A payment gateway helps connect the customer's payment interaction with the systems handling the transaction. It may be supplied alongside.
Read guideWhat Is a Payment Processor?
A payment processor coordinates the handling of customer payments through the relevant payment arrangements. Providers often combine processing.
Read guideWhat Is a Chargeback?
A chargeback is a payment reversal process raised through the applicable card dispute system. It differs from a refund initiated by the merchant.
Read guideWhat Is a Rolling Reserve?
A rolling reserve is a portion of eligible payments held for a defined period under a provider's risk terms. It affects available cash and is.
Read guideWhat Is a Company Secretary in Hong Kong?
A company secretary in Hong Kong holds a statutory administration role. It is different from a personal assistant or the person who happens to.
Read guideWhat Is a Significant Controllers Register?
The Significant Controllers Register is a statutory record identifying persons or entities meeting Hong Kong's relevant control conditions. It is.
Read guideCLUCHED / HONG KONG
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