Background:
In order to comply with new financial regulations, all Talus Pay users need to provide their identity information in order to process credit cards and have the ability to make wallet/bank transfers on the Talus Pay app. Identity information is also known as KYC - Know Your Customer information in the financial industry.
Why is identity verification mandatory?:
Financial regulators around the world enforce identity verification requirements to ensure that identity information is collected and verified from certain types of businesses and their company personnel. These information collection requirements are frequently updated by financial service regulators, card networks, and other financial institutions.
Payments regulations aim to create a safer, more secure financial ecosystem by helping prevent crimes like money laundering, fraud, and tax evasion.
What you need to provide:
Full Legal Name (as shown on the ID)
Government Issued Photo ID
Residential Address
Full SSN/ Full ITIN
Please Note: In some cases, the user may be required to provide additional identification.
Make sure your app version is updated to at least iOS v2.72.48 or Android v3.2.4.
Click here to update your app.