At Reservio, we take the security of your business and your customers seriously. When you begin the onboarding process for our Online Payments feature, we ask for certain documents about you and your business. While this process may seem thorough, it’s designed to protect your business and ensure that all payments are secure, compliant, and processed properly.
Why we need your documents
These documents help us follow global financial regulations, like Know Your Customer (KYC), Anti-Money Laundering (AML), and Payment Card Industry Data Security Standards (PCI DSS). These measures protect your transactions, prevent fraud, and ensure a safe payment environment for both you and your customers.
Why we use Adyen
To process your payments securely, we partner with Adyen, a globally trusted and secure payment processor. Adyen complies with PCI DSS 4.0 and follows strict AML regulations, which helps prevent illegal transactions and ensures that all payments are handled securely.
1. Know your customer (KYC) and Know your business (KYB)
KYC and KYB are processes that help us verify the identities of individuals and businesses. This ensures that the people and companies using our payment platform are legitimate. For example, when you provide personal ID documents and business registration papers, it confirms that you’re a real business and not engaging in fraudulent activities. This protects your business from dealing with fake or risky transactions. You can learn more about KYB in this Know Your Business guide.
2. Anti-Money laundering (AML)
AML laws exist to prevent illegal activities like money laundering, where people move illegally earned money through businesses to make it appear legitimate. By asking for details about your business and identity, we help ensure that no one can misuse Reservio’s platform for illegal activities. This means that when you accept payments through Reservio, both your business and your customers are part of a safe, transparent system.
3. Payment card industry data security standard (PCI DSS 4.0)
PCI DSS 4.0 is the highest standard for payment security. It includes rules that companies like Adyen (our payment processor) must follow to protect credit card information. Every time a customer makes a payment through Reservio, their card details are encrypted, meaning the information is turned into a secret code. Even if someone tries to steal the data, they wouldn’t be able to read or use it.
This means that both your business and your customers are protected from fraud and data theft. If you want to dig deeper into PCI DSS, you can check this Wikipedia article.
How does this benefit you?
For your business: Your transactions are securely processed, and your sensitive data is fully protected.
For your customers: Their payment details are encrypted and kept safe from fraud, giving them peace of mind when booking your services.