What is the KYC process in Payoneer?

KYC, or Know Your Customer, is a mandatory process implemented by financial institutions to verify the identity of their clients. In the case of Payoneer, this process is crucial to ensure the security and integrity of transactions. When you sign up for a Payoneer account, you’ll be asked to provide certain personal information such as your full name, date of birth, address, and a copy of your government-issued ID. This information is then reviewed and verified by Payoneer’s compliance team. It’s important to note that the KYC process is a standard requirement across the financial industry and is designed to prevent identity theft, financial fraud, and money laundering.