What is KYB verification? The documents you need to accept payments as a business
What KYB verification is, how it differs from KYC, the documents a payment provider asks for, how review works, and how to pass KYB the first time.
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KYB verification — Know Your Business — is the check a payment provider runs on a company before it lets that company take live payments: that the business is real, legally registered, run by the people it says, and selling something the provider is allowed to process. It is the business-level counterpart of KYC (Know Your Customer), which verifies an individual.
Every payment provider does KYB in some form, because it is responsible for the merchants whose payments it handles. This guide explains what KYB verification checks, the documents you need, how review works on KukoPay, and the mistakes that most often send an application back.
KYB vs KYC: what's the difference?
| KYB | KYC | |
|---|---|---|
| Verifies | The business | A person |
| Typical evidence | Business licence or certificate of incorporation, registration number, website, line of business | Identity document, sometimes a photo holding it |
| Who it covers | The legal entity, plus the people who represent it | The individual |
In practice KYB includes a KYC step: the provider checks the business and the person who represents it — the legal representative or a director. A person selling without a company goes through KYC alone; on KukoPay that is the "individual" type, covered in accepting international payments as an individual.
Why do payment providers require KYB verification?
- To know who is behind the money. A provider moves money on its merchants' behalf, and anti-money-laundering rules make it answer for who they are.
- To keep prohibited business off the network. Card networks and acquirers restrict what can be sold; a provider that processes for gambling or counterfeit goods puts every other merchant on its accounts at risk.
- To protect you. A verified business is harder to impersonate — and on KukoPay the payout account is checked against the verified business, so a stolen login cannot redirect your money to a stranger's account.
Which business type should you choose?
The type follows the document you are verified with, not whether you sell abroad: a mainland Chinese company selling overseas is a mainland company.
| Type | For | Verified against |
|---|---|---|
| Mainland company | A company registered in mainland China | Business licence and the legal representative's ID |
| Sole proprietorship | A licensed individual business (个体工商户) | Business licence and the owner's ID |
| Company outside mainland China | A company registered anywhere else | Certificate of incorporation and a director's ID |
| Individual | A private person with no business licence | Their own ID and a photo holding it |
What documents do you need for KYB verification?
For a company or sole proprietorship, KukoPay asks for:
| Item | What to check before you submit |
|---|---|
| Company name and registration number | Exactly as on the licence or certificate |
| Business licence or certificate of incorporation | Clear and in date |
| Legal representative's (or director's) name and ID number | Exactly as on the document |
| Both sides of that person's ID | Readable |
| Contact email and phone | Review results and risk notices go here |
| Website | Reachable, and selling what you apply for |
| Business category | Decides the rates and risk policy that apply |
| Expected monthly volume | Used to size your account |
| Settlement bank account | In the company's own name |
Two things happen before you can submit: you verify your sign-in email (the welcome email has the link), and you accept the acceptable use policy. Only the account owner can submit the application; other team members can see its status.
What can't you get through KYB?
Some businesses cannot be approved by any type: gambling and lotteries, cryptocurrency and virtual-asset trading, adult content, pharmaceuticals and medical devices, weapons, tobacco and e-cigarettes, financial investment and lending, remittance and payment collection for others, counterfeit or infringing goods, and anything illegal or fraudulent. Check your category against the policy before you apply.
How does KYB review work?
You do not need to wait for KYB to start building. The sandbox needs no review: issue a kuko_test_ key and integrate first — the recommended order. Live mode is locked until approval: a kuko_live_ key is refused with 403 merchant_not_approved until then.
| Status | Meaning |
|---|---|
pending | Submitted, waiting for review |
approved | Approved — you can issue live keys |
rejected | Not approved; audit_reason says why. Fix it and resubmit |
- While
pendingorrejected, you can edit and resubmit from the dashboard. - Once
approved, the details are locked; changing the business details goes through the platform's operators. - The account owner, admins and the contact email are emailed the outcome; a rejection includes the reason.
What approval decides
Approval is also where your terms are set:
- Currencies — the order currencies enabled for live (from USD, HKD and CNY);
- Payment methods — a base set; more can be requested one by one afterwards, as described in how to accept Alipay and WeChat Pay online;
- Rates — your signed rates per fee group and currency, which you can see in the dashboard. How cross-border payment fees are calculated explains the formula.
After approval, the settlement bank account you add for payouts is reviewed separately against the verified business before it can receive money — see what is payment settlement.
How is your KYB data protected?
Verification documents are uploaded to private storage, readable only by your account's members and authorised operators. Identity document numbers are stored encrypted and shown masked everywhere; an operator who needs to see a full number has to state a purpose, and every look is recorded.
Tips to pass KYB verification the first time
- Make names match everywhere. Company name on the licence, in the form, on the website footer and on the bank account.
- Have a live website that shows what you sell, with prices, contact details and terms. The website must be reachable and match the category you apply for.
- Pick the category that matches the website. A mismatch between what you apply for and what the site sells will be questioned.
- Upload clear, current documents — no cropped corners, no expired IDs.
- Estimate volume honestly. It sizes your account; an implausible number invites questions.
- Read the rejection reason before resubmitting, and change exactly what it names.
Summary
- KYB verification confirms a business is real, registered and allowed; KYC confirms a person, and KYB includes it for the business's representative;
- choose the type by the document you are verified with, not by where you sell;
- prepare the licence or certificate, the representative's ID, a live website, the category, expected volume and a bank account in the company's name;
- build in the sandbox while review runs — live keys work only after approval;
- names that match, a real website and the right category are what get approved first time.
Try it in the sandbox
Create a merchant account and request a test key. The sandbox needs no business verification.