Polygon Payments | AML/KYC Guide

As a regulated payments provider, Polygon Payments is legally obligated to verify the business information of all our merchants.This means that before your business can start using the Polygon Payments platform,certain checks must be completed.These requirements come from our regulators, government and financial partners to ensure the security of your data and the wider financial services industry.

Before We Get Started…

Identifying the authorised persons for your entity is the most complex yet crucial part of this compliance process. But don’t worry – we’re here to help.

KYC Compliance Guide

Step 1. Determine Your Required Documents

Depending on your business type (e.g., sole trader, partnership, company, charitable organisation, incorporated society), Polygon Payments requires the following documents:

Trust Deed (for Charities and Incorporated Societies)
Constitution or Partnership Agreement (if applicable)

Step 2. Identify All Authorised Persons for Your Business.

Authorised persons include all:

Directors
Senior Management (e.g., Chief Executive, Chief Financial Officer)
Shareholders (with more than 25% of the issued capital)
Officers
Trustees
Individuals with access to or control of funds

Step 3. Verify the Identity Information of All Authorised Persons.

You must provide a copy of one of the following documents for each authorised person:

Option 1: Passport
Option 2: New Zealand Driver's Licence (back and front)

Their photo ID must include their name, date of birth and photo.

Step 4. Confirm the Residential Addresses of All Authorised Persons.

Provide a copy of one of the following documents for each authorised person:

Bank Statement
Local Authority Rates or Water Bill
Utility Bill (gas, power, fixed phone line, internet, SKY TV)
Current Insurance Policy
Lease Agreement (signed by both the tenant and the landlord)
Government Agency Statement
An official document from KiwiSaver or a superannuation scheme
An official document from Inland Revenue

The document should be no more than three (3) months old and must show the person’s full name and current residential address.

Step 5. Confirm Your Business Bank Account.

Almost done! Now, provide one of the following to verify your business bank account.You are welcome to black out balances or transactions:

Bank Statement
Deposit Slip

The Final Word…

Our goal is to make your onboarding process with us as simple and straightforward as possible. However, our team may sometimes need to follow up with you for additional information to complete these checks.We appreciate your patience if this is ever the case!

If you have any questions or need help, our team is always here for you. Contact Us

Polygon Payments operates within the regulated space of the financial system, which necessitates compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. These regulations are in place to safeguard the financial system, as well asprotect our merchants and customers from potential illicit activities. Like other regulated industries such as lending, accounting, legal services, real estate, andbanking, AML requirements are a standard procedure. We strive to simplify the process as much as possible while ensuring compliance with regulatory standards for the benefit of all parties involved

Note: The intention of KYC compliance and verifying your account is to prevent abuse of the financial system and to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML-CTF Act"). Any information you provide to us is reviewed internally and aligned with our Privacy Policy.

AML & KYC Compliance