Know Your Customer — the identity checks financial providers run to confirm who they're doing business with, as part of anti-money-laundering rules. For businesses, the equivalent is KYB (Know Your Business).
Why it matters for your business
Terms like KYC aren't just jargon — they sit behind what you actually pay to accept payments. Understanding them is the difference between reading your statement and being at the mercy of it. If you're not sure how this shows up in your own costs, the fastest way to find out is to have someone read your statement line by line.
See what you're really paying →Related — Risk & Compliance