Company
The frameworks and policies that keep BNYPay safe, fair and accountable for merchants and their customers.
Our framework
Each area is governed by our published policies. Detailed internal procedures are confidential.
Controls to prevent the platform being used for money laundering or terrorist financing.
Our Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) approach covers customer due diligence, monitoring and the reporting of suspicious activity as required by applicable law.
AML/KYC/CFT PolicyWe verify businesses and the people behind them before they go live.
Know Your Customer (KYC) and Know Your Business (KYB) checks confirm the identity of the business, its authorised signatories and, where applicable, its owners. Information may be refreshed periodically after activation.
Merchant onboardingSafeguards that protect merchant and customer data and our systems.
We apply security controls covering encryption, access control, monitoring and incident response. Specific certifications and standards are published only after they have been confirmed.
Security at BNYPayHow we collect, use, store and protect personal information.
Personal information is handled in line with our Privacy Policy and applicable data protection law, and is used only for the purposes described there.
Privacy PolicyBusinesses are assessed against our risk and eligibility policies.
We review what a business sells, where it sells it and how it presents itself to customers, and some business types cannot be supported. Merchant accounts continue to be reviewed after go-live.
Business eligibilityControls designed to detect and reduce fraudulent activity.
Fraud controls help identify suspicious behaviour and reduce its impact on merchants and their customers. We do not publish the details, as that would make them easier to get around.
Trust, risk & securityPayment activity is reviewed for unusual patterns.
Transactions are monitored for patterns that may indicate fraud, misuse or policy breaches, so that issues can be investigated and acted on promptly.
Trust, risk & securityA clear, escalating route for complaints.
Complaints can be raised with customer support, escalated to our Grievance Redressal Officer and then to our Principal Nodal Officer, as set out in our Grievance Redressal Policy.
Grievance redressalAccountability
Complaints start with customer support and can be escalated as set out in our Grievance Redressal Policy.
Our team can help with information requests from partners and merchants.