KYC vs Non-KYC Account

Account management is required to comply with the regulations. We classified sub-accounts into 2 categories: KYC sub-accounts and Non-KYC sub-accounts.

	Non-KYC	KYC
Transaction Entity	Transacting entity would be the main account	Transacting entity would be on the sub-account
Transaction report	Created Transaction belongs to main account	Created Transaction belongs to the sub-account
Transaction Descriptor / Merchant Name displayed	Main Account	Sub-account
Minimum required data for account creation	Company information PIC name and email Beneficiary bank account for withdrawal	KYB data is required, same with creating new account Require approval from Pivot
Activated Payment and Payout Channel	Derived from Main Account	Specific configuration for the sub-account
Invitation to Pivot Dashboard	✅	✅
Limitation on product/feature usage	Derived from main account, e.g. if derived account can't processing card payment, then sub-account won't be able processing card payment too	Can be customized, e.g. sub-account can't receive payment, only payout
Example Use Case	Retailers / Multiple store schema Managing balance between franchisee / outlet Marketplace	Aggregator Outlet with different owner that wants to accept payment themselves

Important Notes:

Both KYC and Non-KYC accounts can exist on the same main / master account

Merchant guide for KYC

Here are steps to submit KYC Documents for your newly created sub-account account

1. After your sub-merchant account has been created, submit the KYC Document to [e-mail]

2. Our compliance operations team will review your KYC Document, you will get the result after 3 x 24 hours

3. There are a few possibilities for your KYC Submission

   1. Approved If your documents pass our KYC, then your sub-account status will be changed to approved

   2. Rejected Verification rejected means, your sub-account account has not passed our KYC process, you will need to create a new sub-account with a Non-KYC type.

KYC Document requirement

Documents and Information needed for KYC Screening purposes:

• Full Name of Business Owner

• Type of Identification Document (Legalized National Identity)

• Identification Number

• Tax Identification Number of Business Owner (NPWP)

• Registered Telephone Number

• Residential Address of Business Owner

• Email Address of Business Owner

KYC Status explained

KYC Status	Definition	Action Recommendation
Waiting for document	You will need to submit KYC Document for the sub-account	Make KYC Submission
In Review	Your KYC Submission for sub-account is being reviewed	Waiting for Review
Approved	Your KYC Submission is approved	Account is ready to be used for processing payment or payout
Rejected	Your KYC Submission is rejected	Create another account with Non-KYC type
Not Required	No need to submit KYC Submission, since the sub-account type is Non-KYC. You will only see this status for Non-KYC sub-account only.	N/A