KYC & Safety Policy

1. Purpose

This KYC (Know Your Customer) & Safety Policy explains Vayva's identity verification requirements, risk mitigation procedures, and enforcement powers. This Policy applies to all merchants using the Vayva platform.

Vayva is committed to maintaining a safe, trustworthy platform and preventing misuse, fraud, and illegal activity.

2. Why KYC Is Required

Vayva collects and verifies identity information to:

• Prevent fraud, money laundering, and terrorist financing
• Comply with Nigerian anti-money laundering (AML) and counter-terrorism financing (CTF) regulations
• Protect merchants and customers from scams and abuse
• Maintain platform integrity and reputation
• Respond to law enforcement requests and legal obligations

3. When KYC Is Triggered

Vayva may require identity verification in the following circumstances:

3.1 Account Registration

Basic identity information (name, email, phone number) is required to create an account.

3.2 High-Risk Indicators

Additional verification may be required if we detect:

• Unusual transaction patterns or volumes
• Rapid account growth or activity spikes
• Multiple accounts from the same device or IP address
• Reports of suspicious activity from customers or other merchants
• Transactions involving high-value goods or services

3.3 Regulatory Requirements

We may require verification to comply with Nigerian law or regulatory requests.

3.4 Enforcement Actions

If your account has been flagged for policy violations, we may require identity verification before reinstating access.

4. Information Requested

Depending on the level of verification required, we may request:

4.1 Basic Verification

• Full legal name
• Date of birth
• Residential address
• Phone number (verified via SMS)

4.2 Enhanced Verification

• Government-issued ID (National ID, Driver's License, International Passport, or Voter's Card)
• Proof of address (utility bill, bank statement, or government correspondence dated within 3 months)
• Business registration documents (CAC certificate, business license)
• Bank account information (for payment verification)

4.3 Additional Documentation

In certain cases, we may request:

• Tax Identification Number (TIN)
• Selfie or video verification
• Source of funds documentation
• References or business history

5. Verification Process

When KYC verification is required:

1. You will receive a notification via email and in-app
2. You will be prompted to upload the requested documents through your account dashboard
3. Our compliance team will review your submission within 3-5 business days
4. You will be notified of the outcome (approved, additional information needed, or rejected)

6. Failure to Comply

If you fail to provide requested verification within the specified timeframe, Vayva may:

6.1 Account Restrictions

• Limit access to certain features
• Restrict transaction volumes or amounts
• Prevent new orders or payments from being processed

6.2 Account Suspension

If verification is not completed within 14 days, your account may be suspended. You will retain access to export your data but will not be able to use the Service.

6.3 Account Termination

If you refuse to provide verification or provide false information, your account will be terminated permanently.

7. Data Handling

Identity verification data is handled with the highest level of security:

7.1 Secure Storage

• All documents are encrypted at rest and in transit
• Access is restricted to authorized compliance personnel only
• Documents are stored on secure servers with regular backups

7.2 Limited Access

Only Vayva's compliance and legal teams have access to KYC documents. Customer support and other personnel cannot view sensitive identity information.

7.3 Retention Period

KYC documents are retained for 7 years after account closure, as required by Nigerian AML regulations. After this period, documents are securely deleted.

7.4 Third-Party Verification

We may use third-party identity verification services to validate documents. These services are bound by strict data processing agreements and may only use your data for verification purposes.

8. Privacy and Confidentiality

Your identity information is confidential and will not be shared except:

• With law enforcement or regulatory authorities when required by law
• With third-party verification services (as described above)
• In response to valid legal requests (court orders, subpoenas)

We will not sell or share your identity information with marketers or unrelated third parties.

9. Enforcement Powers

Vayva reserves the right to:

• Request additional verification at any time
• Reject verification submissions that are incomplete, illegible, or fraudulent
• Suspend or terminate accounts that fail to comply with KYC requirements
• Report suspicious activity to Nigerian law enforcement authorities
• Cooperate with investigations by EFCC, NDLEA, Nigeria Police, or other agencies

10. Appeals

If your verification is rejected or your account is restricted due to KYC issues, you may appeal by contacting compliance@vayva.shop.

Include:

• Your account email address
• Explanation of the issue
• Additional documentation (if applicable)

We will review appeals within 5-7 business days. Our decision on appeals is final.

11. Contact Information

For questions about KYC verification or this Policy, please contact:

Vayva Inc.
Compliance Team: compliance@vayva.shop
Support: support@vayva.shop