KYC Policy

2022
KYC & AML

GUIDELINES
EASEBUZZ INDIA PVT LTD
EASEBUZZ 2021
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Document Details
Sr. No. Type of Information Document Data
1 Document Title KYC Master Plan
2. Document Code EBZ-PO-KYC
3. Date of Release 13-Sep-2021
4. Document Revision number 1.7
Document Change Control

Approval
Version Reviewer Approver Nature of Change
Date
1.0 15-Feb-2016 Karan Jaishankar Initial Draft
1.1 20-Oct-2017 Jay Jaishankar Revision in Onboarding Process
Revision in KYC vis-a-vis Merchant Onboarding

1.2 16-Aug-2018 Jay Amit
and Customer Acceptance
Revision in KYC vis-a-vis Merchant Onboarding,

1.3 12-Mar-2019 Aniket Amit
Customer Acceptance and Risk Management
1.4 03-Aug-2020 Christoph Amit Customer Acceptance and List of Additional
Documents requirement
1.5 06-Mar-2021 Christoph Amit Customer Acceptance and List of Additional
1.6 13-Sep-2021 Christoph Amit Customer Acceptance and List of Additional
Additional in KYC document required and
1.7 09-June-2022 Anshul Ajay
periodic renewal of KYC
EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

© 2020 Easebuzz Pvt Ltd. All Rights Reserved. All trademarks, service marks and trade names
referenced in this material are the property of their respective owners.
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Contents
1. 2
1.1 3
2 3
2.1 3
All KYC collected is stored on Easebuzz servers which is located in Mumbai, India. 3
2.2 6
2.3 7
2.4 8
2.5 8
2.6 9

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1. Introduction
1.1 Overview of Easebuzz KYC and AML Policy
Easebuzz has adopted KYC and AML guidelines in line with RBI’s guideline issued vide “Master
Direction – Know Your Customer (KYC) Directions”. Our platform has been created in a way that no
merchant can start transacting till the time their email id is verified and subsequently the KYC
uploaded is verified by our operations team.
For segments which are more prone to money laundering, eg Donations, Art work, Nidhi Companies
etc we collect additional documents to validate that the inflow and outflow of money in merchant’s
business is through valid channels and to ensure that merchant is not engaged in laundering or
syphoning funds outside the country.
2 KYC vis-a-vis Merchant Onboarding

2.1 Merchants sign up process and document collection
Merchant Easebuzz portal Operations
Sourced by Signup Checks if all

inhouse sales team Updates basic documents
Direct signup details and required as per
completes the KYC policy has
merchant profile been uploaded
Uploads KYC as Verfies the
per Easebuzz's documents from
standard policy government
database through
3rd party API
integration
If all documents
are in order and
merchant is
approved by Risk
Team for
onboarding,
operations team
activates the
merchant
Merchant can
start transacting
Note - 1: All KYC collected is stored on Easebuzz servers which is located in Mumbai, India.
Note - 2: Even if a merchant is KYC compliant the business model should not fall under the
restricted/banned segment list as specified in our Merchant Onboarding Policy

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Merchant needs to update the following to successfully complete the signup process.
a. Name of the business
b. Website or Mobile App URL
c. Terms and conditions, privacy policy and refund policy to be mandatorily mentioned
d. Payment process flow is checked for both website and mobile app (URL)
e. Address of the business with Pincode, city and state information
f. Email ID, Phone number of the authorized signatory
g. Email ID and phone number of the authorized signatory of a business is captured and verified
h. IP address of sign-up is captured.
i. KYC documents to be uploaded as per nature of constitution of the merchant –
KYC Document
Slno Entity Type Type KYC Document Name Requirement
Cancelled cheque or copy of
Bank Proof Mandatory
statement
POI - Entity Pan Card of proprietor Mandatory
Shop & Establishment certificate
issued by a civic Authority
Import/Export Certificate in the
name of Proprietory Firm
1.1 Sole Proprietor POA - Entity Trade License issued by the local Any one
authority in the name of the
proprietor containing address of
the firm
Utility Bills - Electricity, Water and
Gas bill
Business
GST certificate of the Entity Mandatory
Constitution Proof
POA - AUS Aadhar Card copy Mandatory
statement
POI - Entity Pan Card of Firm Mandatory
GST certificate of the Entity
Shop & Establishment certificate
issued by a civic Authority
POA - Entity Trade License issued by the local Any one
1.2 Partnership Firm
authority in the name of the
proprietor containing address of
the firm
Business
Partnership Deed Mandatory
Constitution Proof
PAN Card copy Mandatory
POA - AUS
Aadhar Card copy Mandatory
Private Ltd/Public statement
1.3 POI - Entity Pan Card of Company Mandatory
Ltd/OPC
POA - Entity GST certificate of the Entity Mandatory

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Business
Certificate of Incorporation Mandatory
Constitution Proof
Board Resolution authorizing the
Additional Doc Mandatory
AUS
POA - AUS (as per PAN Card copy Mandatory
BR) Aadhar Card copy Mandatory
statement
POI - Entity Pan Card of Firm Mandatory
Business
Certificate of Incorporation Mandatory
1.4 LLP Constitution Proof
Board Resolution authorizing the
Additional Doc Mandatory
AUS
PAN Card Copy of Designated
Mandatory
POA - AUS (as per Partner
BR) Aadhar Card copy of Designated
Mandatory
Partner
statement
POI - Entity Pan Card of Society/Trust Mandatory
GST certificate / Society
Society/Trust - POA - Entity Mandatory
1.5 registration certificate
Education Business
Society/Trust Registration Deed Mandatory
Constitution Proof
POA - AUS
statement
POA - Entity Mandatory
registration certificate
Trust/NGO - Business
1.6 Society/Trust Registration Deed Mandatory
Donations Constitution Proof
Latest Audited Financials Mandatory
Additional Doc
80G/12A Certificate Mandatory
POA - AUS
statement
POI - Entity Pan Card of HUF Mandatory
1.7 HUF
Business
HUF Deed Mandatory
Constitution Proof
PAN Card Copy Mandatory
POA - Karta
1.8 Government Entity statement
POI - Entity Pan Card of Entity Mandatory

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Additional Doc Work Order Mandatory

statement
POI - Entity Pan Card of Owner Mandatory
Address proof of place of business -
1.9 Individual/Freelancers
Rent Agreement / Utility bill such
POA - Entity Mandatory
as Electricity or Water (in the name
of owner)
statement
Co-operative Credit POA - Entity Mandatory
1.10 registration certificate
Society/JV/AOP Business Society Registration Deed/JV
Mandatory
Constitution Proof Agreement/AOP Deed
POA - AUS
2.2 Merchant acceptance
a. Once a merchant has successfully validated his Email id and phone number, we expect the merchant to start
with his KYC process. A merchant can login into Easebuzz.in and can start uploading the kyc. A merchant is
then validated on it’s business model, purpose of payment and the necessary risks are evaluated by the risk
(underwriting) team. Once a merchant is approved by the internal risk team, the KYC documents are verified
by the operations team. Once operations team would have approved the KYCt, the merchant is sent across
live credentials of an API with details on commercials for going live . Before the merchant is activated by the
operations team, the merchant doesn’t get the functionality to use our platform and conduct transactions.
b. Optional’/additional information, document is obtained with the explicit consent of the customer while
underwriting Merchant Application
c. Easebuzz has an API integration with a 3rd party vendor which validates the KYC documents from the
government database.
- PAN is validated from NSDL database
- Phone number validated from TRAI database
- Bank a/c details validated through a penny drop transaction
- GST details validated from GST portal
d. Status of validation can be seen from our dashboard, different statuses are colour coded. Red denotes email
if not verified, grey denotes KYC not uploaded, yellow denotes kyc uploaded by not verified and green denotes
KYC verification is successful. Sample is given below –
Email id not verified and KYC not uploaded -

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Email id verified and KYC uploaded by not verified by operations team -
Email id and KYC verified by operations and merchant activated –
2.3 Risk Management

For Risk Management, Easebuzz has a risk category approach which includes the following.
a. Merchants are categorised as low, medium and high risk category, based on the assessment
and risk perception of the RE.
b. Risk categorisation is undertaken based on parameters such as Merchant’sidentity, nature of
business activity, and information about the Merchant’sbusiness and their location, business
vintage etc.
c. Easebuzz has implemented a transaction monitoring process to keep a check on suspicious
transaction patterns and high value transactions.
d. Easebuzz follows the CPV verification process to verify business set-up, address and
verification in terms of number of employees, etc wherein we have tied up with 2 vendors
who conduct the CPV and then share the report with Easebuzz within 24 hours.
Below are the details of Nodal officer for any escalation which can be sent across to

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anand@easebuzz.in
Nodal Officer name – Anand Nagrale
Address – Easebuzz Private Limited,
The Social Street (Opposite – Hotel Vivanta) B – Wing, 2nd Floor, Hinjewadi – Wakad Road, Pune 411057
2.4 Customer due diligence (CDD) Procedure – Business Segment Due Diligence
Easebuzz has a board approved standard merchant acquiring policy. The said policy covers the entire
risk management procedure which is followed for all merchants. For certain business segment
Easebuzz imposes a higher level of diligence, a few examples of which is given below –
International Card acceptance – For merchant requesting for international card we have specified
certain additional documentations such as –
i. Copy of sample invoices which are raised to international customers and bank statements to check
if the amount is credited.
ii. Validation of Import Export certificate for merchants engaged in export of goods.
iii. Information related to target countries and how merchants are sourcing these international
customers.
iv. Nature of product or service which merchant offers – This is done to check if the product or service
offered by merchant is unique to India and it genuinely warrants extending international card
acceptance.
2.5 List of Additional Documents Required
Nature of Business Documents Required

Travel 1. IATA Certification (mandatory for air ticket booking)
2. Agreement between 3rd party inventory providers or hotels
Edible food products / Restaurants FSSAI License

Internet Service Provider DOT License
Telecom Providers TRAI License

Bill payment and Utility Services BBPS License
rd
3 Party API Based Services API Agreement
NBFC RBI License
PPI Instruments RBI License
Donations Last 2 Year Audited Balance Sheet and Profit & Loss Account,
80G and 12A certificate
Automobile Dealers Dealership Certificate

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E-commerce Marketplace Sample agreement between merchant and sellers

Ayurvedic Products Ayush License or agreement between merchant and
manufacturer backed by Manufacturer’s Ayush License
Securities Broker/advisors SEBI Registration
Mutual Funds AMFI Registration
Insurance IRDA Registration
2.6 Process of Periodic upgrades

Whenever there is any change in KYC, business, email or phone, bank details etc the account goes
under underwriting process again and all the transactional activity is suspended automatically.
Notification is sent to the underwriting and operation team to investigate the changes and take
appropriate actions. Once the account is approved again the merchant is again notified on the
registered emailed to start the payment collection process again.
Easebuzz follows a risk-based approach for periodic KYC renewal.

Risk Classification Renewal period
High Risk Once every 2 years
Medium Risk Once every 8 years
Low Risk Once every 10 years


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2022

KYC & AML

1 Document Title KYC Master Plan

2. Document Code EBZ-PO-KYC

3. Date of Release 13-Sep-2021

4. Document Revision number 1.7

Document Change Control

1.1 20-Oct-2017 Jay Jaishankar Revision in Onboarding Process

Revision in KYC vis-a-vis Merchant Onboarding

Revision in KYC vis-a-vis Merchant Onboarding,

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

1.1 Overview of Easebuzz KYC and AML Policy

2 KYC vis-a-vis Merchant Onboarding

Merchant Easebuzz portal Operations

Sourced by Signup Checks if all

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

Additional Doc Work Order Mandatory

2.2 Merchant acceptance

Email id not verified and KYC not uploaded -

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

Email id verified and KYC uploaded by not verified by operations team -

Email id and KYC verified by operations and merchant activated –

2.3 Risk Management

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

2.5 List of Additional Documents Required

Nature of Business Documents Required

Edible food products / Restaurants FSSAI License

Telecom Providers TRAI License

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

E-commerce Marketplace Sample agreement between merchant and sellers

Insurance IRDA Registration

2.6 Process of Periodic upgrades

Easebuzz follows a risk-based approach for periodic KYC renewal.

EASEBUZZ – KYC & AML GUIDELINES EASEBUZZ 2022

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