Why Did the KYC Verification Not Pass?
At IONAPAY LIMITED, we prioritize a seamless and secure user experience. KYC (Know Your Customer) verification is a mandatory step to ensure account authenticity, security, and regulatory compliance. Below are the most common reasons for KYC failure:
Age restriction
Users must be at least 18 years old to pass KYC verification.
Unsupported countries or regions
IONAPAY LIMITED does not support users residing in or holding passports from certain jurisdictions. Logging in from a restricted region may also result in automatic KYC rejection.
List of unsupported countries and regions:
Afghanistan, Belarus, Burma (Myanmar), Burundi, Canada, Central African Republic, Mainland China, Cuba, Darfur, Democratic Republic of the Congo, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, ISIL (Da'esh), Al-Qaida and the Taliban, Lebanon, Liberia, Libya, Mali, Nicaragua, North Korea, Russia, Rwanda, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Ukraine, United States, Venezuela, Yemen, Zimbabwe
Important notes:
-
Chinese passport holders and residents cannot pass KYC
-
Logins from Mainland China are not allowed
-
U.S. passport holders may pass KYC only if they do not reside in the United States or use a U.S. address
-
Sanctioned countries cannot pass KYC under any condition
Facial Recognition Failures:
- Glasses Reflection: Reflections from glasses can interfere with the process. Please remove your glasses during facial recognition.
- Incomplete Facial Capture: Ensure your entire face is within the frame for successful recognition.
- Discrepancy with ID Photo: If there's a significant difference between your face and your ID photo, use your official ID card during the process.
- Other Situations: If someone else appears in the camera or the system detects you're using your phone, the verification will fail.
- Facial and Identity Mismatch: The verification must be done by the document owner. Using ID photos or pre-recorded videos will result in failure.
Identity Document Verification Failures:
- Unsupported Document Type: Submit documents as per the app's instructions. For instance, if the app requests a passport, ID, or driver's license, submitting a residence permit will cause the verification to fail.
- Unsatisfactory Document Photo: Ensure you provide a photo of the original document, not printouts, screenshots, damaged documents, or unclear photos.
Expired Document: IONAPAY LIMITED only accepts identity documents valid for at least three months from the submission date.
Duplicate Verification: Each user's identity information can only verify one account. Submitting different types of identity documents for the same identity information will fail. If a verified account was deleted more than 15 days ago, please contact IONAPAY LIMITED support for new account verification.
Problematic Basic Information: Submit your exact basic information as it appears on your identity document, including your first and last name, date of birth, and identity document number.
How to Complete KYC Verification
To carry out KYC verification, select "Verify your identity to access the main features" and follow the steps to complete verification.
KYC at a Glance
IONAPAY LIMITED prioritizes stringent compliance with industry standards, particularly in adhering to Know Your Customer (KYC) practices across all financial operations. KYC serves as a crucial trust-building mechanism between our business and clients, ensuring robust security measures against potential risks.
Understanding Know Your Customer (KYC)
KYC forms an essential part of IONAPAY LIMITED's onboarding process, encompassing procedures used by financial entities to verify and gather customer information. Its primary aim is to thwart illicit activities like money laundering, terrorist financing, fraud, and identity theft.
The KYC process entails gathering pertinent customer data, including legal full names, dates of birth, and official identification documents such as passports, identity cards, or driver’s licenses. Additional information may be requested depending on the nature of the business relationship, crucial for establishing identity and evaluating risk.
Applicants should recognize that collecting personal information for identity verification is obligatory under relevant regulations.
IONAPAY LIMITED has partnered with Sumsub, a leading provider in electronic KYC (eKYC) solutions, ensuring robust verification processes.
Importance of KYC
- Regulatory Compliance: KYC mandates are enforced by regulatory bodies globally to combat financial crimes, ensuring adherence to legal standards and avoiding penalties.
- Prevention of Financial Crimes: KYC aids in detecting and preventing money laundering and terrorism financing activities, thereby safeguarding financial integrity.
- Fraud Prevention: By verifying customer identities, KYC mitigates risks associated with fraudulent activities such as identity theft and account misuse.
- Risk Assessment: Gathering customer data enables IONAPAY LIMITED to assess risks associated with transactions, facilitating informed decision-making.
- Protecting Business Reputation: Implementing robust KYC measures preserves the reputation and integrity of businesses by averting inadvertent involvement in criminal activities.
- User Protection: KYC measures protect IONAPAY LIMITED's customers, reducing the likelihood of account compromise or misuse.
IONAPAY LIMITED remains committed to stringent regulatory compliance, continuously reviewing and aligning with regulatory guidelines across various jurisdictions.
Troubleshooting Google Verification Codes
If you encounter a format error when entering a Google verification code, follow these steps:
- Manually Enter the Code: Google verification codes are typically 6 digits. Enter the code manually instead of copying and pasting to avoid format errors.
- Check Code Expiry: Verify if the Google verification code has expired. Google codes typically refresh every 60 seconds.
KYC Verification Duration
After submitting your identity information, KYC verification typically takes between 5 to 10 minutes for review. Please remain patient during this process.
IONAPAY LIMITED Partners with Sumsub for Enhanced Identity Verification and AML Compliance
Hong Kong, China — August 29, 2023 — In our continuous commitment to champion digital finance across Asia, we at IONAPAY LIMITED are thrilled to announce our collaboration with Sumsub, an industry-leading full-cycle verification platform. This strategic partnership will integrate Sumsub’s acclaimed KYC and AML solutions into IONAPAY LIMITED’s crypto-payment offerings. This ensures a superior onboarding experience for our users and reinforces our compliance standards.
This collaboration aligns perfectly with our recent milestones. We’ve just celebrated the grand opening of our new office at The Center, located at 99 Queen’s Road Central, Central, Hong Kong. Additionally, we’ve launched our inaugural Crypto Visa Card and App, emphasizing our dedication to integrating cryptocurrency into everyday transactions.
More than just a blockchain entity, IONAPAY LIMITED, located in the bustling heart of Hong Kong, remains resolute in its vision to deliver world-class crypto payment solutions on a global scale. Teaming up with Sumsub only amplifies this determination, merging our innovative stance with Sumsub’s reputable verification and compliance expertise.
Michael, Director of IONAPAY LIMITED, stated, “Being at the forefront of the blockchain revolution, we understand the paramount importance of trust and security in the digital transactional space. Sumsub, renowned for its robust verification solutions, mirrors our aspirations flawlessly. Together, we’re poised to pioneer new standards in the digital finance arena.”
About IONAPAY LIMITED:
IONAPAY LIMITED stands proud as a visionary in blockchain technology, focusing on crypto wallet strategies and payment modalities. Our mission revolves around seamlessly integrating cryptocurrency into day-to-day transactions, pushing the boundaries of what’s possible in digital payment solutions.
About Sumsub:
Sumsub, a holistic verification solution provider, remains unwavering in its commitment to safeguarding end-to-end user journeys. From KYC and KYB to combating fraud, Sumsub’s tailor-made offerings assist enterprises in honing their verification methodologies, broadening their international footprint, adhering to regulatory imperatives, optimizing costs, and bolstering their defenses. It’s an honor for IONAPAY LIMITED to be listed among Sumsub’s prestigious clientele, which includes industry stalwarts like Binance, Mercuryo, Huobi, and more.
IONAPAY LIMITED Joins Forces with Sumsub
IONAPAY LIMITED is pleased to unveil a significant milestone in our journey towards enhanced security and compliance. We are thrilled to announce a strategic partnership with Sumsub, a distinguished leader in the field of verification platforms. This collaboration is set to revolutionize the IONAPAY LIMITED crypto-payment ecosystem by introducing Sumsub's top-tier Know Your Customer (KYC) and Anti-Money Laundering (AML) solutions.
The Synergy of Innovation and Expertise:
By integrating Sumsub's renowned KYC and AML solutions into our platform, IONAPAY LIMITED aims to deliver a seamless and secure user experience, raising the bar for industry standards. This strategic alliance underscores our unwavering commitment to pioneering innovation in digital finance while fostering the utmost trust among our valued users.
A Glimpse into the Future:
Stay tuned as we embark on this groundbreaking journey with Sumsub. Together, we aim to redefine the landscape of cryptocurrency payments, setting new benchmarks in security, compliance, and user satisfaction. Watch this space for forthcoming updates that will showcase the transformative impact of this alliance.
IONAPAY LIMITED is steadfast in its mission to empower users with cutting- edge financial solutions that prioritize security, compliance, and trust. Our partnership with Sumsub marks a significant step forward in achieving these goals, and we look forward to sharing the exciting developments that lie ahead.