Gazepayment Solutions Private Limited, operating as RoyalPay24, follows Know Your Customer (KYC) and Anti-Money Laundering (AML) practices to prevent misuse of the Platform for fraud, money laundering or any illegal activity.
1. Partner KYC
Every retail partner must complete KYC before using the services. Documents may include:
- PAN card
- Aadhaar card (or other officially valid identity and address proof)
- Recent photograph and shop / business address proof
- Bank account details (cancelled cheque or passbook)
- GST certificate or other business registration, where applicable
Additional documents may be requested by us, a partner bank or a service provider.
2. Verification
Details are verified using document checks and, where available, electronic verification. Accounts with incomplete, mismatched or suspicious KYC are not activated.
3. Transaction monitoring
We monitor transactions for unusual patterns such as very high volumes, repeated failed attempts or unusual timing. Limits may be applied to accounts based on risk.
4. Prohibited activities
- Using another person’s identity or documents
- Doing AEPS transactions without the customer’s presence and consent
- Splitting transactions to avoid limits
- Any transaction linked to fraud, gambling, illegal goods or money laundering
5. Action on suspicious activity
If suspicious activity is found, we may hold transactions or wallet balance, suspend the account, and report the matter to the concerned bank, service provider or authority as required by law.
6. Periodic update
Partners must update their KYC whenever their details change, and when asked by us during periodic review.
7. Record keeping
KYC and transaction records are kept for the period required under applicable laws.