Why KYC is needed in Wanttopay
What is KYC?
KYC (Know Your Customer) — this is user identity verification. The name translates from English as “know your customer.” Financial services perform such checks to make sure the account is being used by a real person.
Today, KYC is a mandatory element of a reliable fintech service.
Why complete KYC in Wanttopay?
Identity verification helps:
— protect accounts from fraud and unauthorized transactions; — comply with financial regulatory requirements; — provide higher limits and expanded service capabilities.
What documents are needed?
One of the following documents will work:
— passport — international passport — driver’s license
The international passport is processed faster and with fewer errors.
Do I need to show the original document or go somewhere?
No. Everything happens online, from the app. It is enough to have a photo or scan of a document in acceptable quality — you do not need to hold the original in your hands.
What matters for the photo:
✅ good lighting, without glare or shadows ✅ the document and text are in focus, everything is readable 🚫 no filters or editing 🚫 not a photo of a screen 🚫 the document is not covered by fingers
The second step is facial identification: a selfie that the system compares with the photo in the document. You need to take it without glasses, a mask, or headwear.
How long does the verification take?
If the document is already at hand — a few minutes. Usually 5–10 minutes including upload. In rare cases, the check takes longer, and then we will let you know in the app.
Who checks the documents?
The check is carried out by Sumsub — an international verification platform (sumsub.com). We do not store or process your documents manually: you upload them to Sumsub’s secure module directly in the app.
Sumsub works with thousands of financial companies worldwide, including Bybit, CoinList, and BingX. The platform undergoes independent security audits and complies with international data protection standards.
That is why the document step is not an “unnecessary formality from a small service,” but the same process that customers of major exchanges and banks go through.
What happens to my data?
The data is transmitted in encrypted form and used only to confirm identity. It is not used for advertising and is not shared with third parties for commercial purposes.
The procedure for processing and storing personal data is described in the privacy policy — it also explains how to request data deletion.
What should I do if verification fails?
Most often the reason is technical: glare on the document, blurry text, a photo of a screen, or an expired document. In this case, try again in good lighting — the number of attempts is not limited to one.
If the check fails again after another attempt, write to support: we will look at exactly what did not work and tell you how to fix it.
Why is KYC important when working with cryptocurrency?
Verification is needed for the stable operation of cards linked to a crypto account. Banks and payment systems require user verification to reduce the risks of money laundering. Therefore, without KYC, service for such cards may be limited.
Is KYC needed for all products?
For issuing payment cards — yes, this is a requirement of the payment infrastructure. Together with the card, higher limits and additional service features are unlocked.
The exception is gift cards: they are available immediately after account activation, only email and a verified phone number are needed. This lets you top up Apple, Steam, PlayStation, Nintendo, Roblox, Minecraft, Battle.net, and PUBG Mobile; the code arrives in Telegram after payment.
The difference is simple: a gift card covers a one-time purchase in one service, while a payment card is needed where you pay regularly and in different places. If you plan the second option, you will still have to pass verification, and it is better to do it right away.
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