Scheduled maintenance is currently in progress. We will provide updates as necessary.
Posted Jun 07, 2023 - 08:00 CEST
Scheduled
We are writing to inform you of a change in the KUARIO platform regarding the activation process of KUARIO outlets.
As of June 7th 2023 it will no longer be possible to accept any transactions before a beneficiary (merchant) is fully financially onboarded. Financial onboarding means that a beneficiary (merchant) has successfully completed Oonex’ KYC process. KYC stands for “Know Your Customer” and is mandatory for banks and financial institutions to confirm the identity of the organizations and individuals they do business with and to ensure that these entities act legally.
As a regulated agent of Oonex, KUARIO is subject to the same laws and regulations as banks and financial institutions. As a result, KUARIO is obliged to complete Oonex’ KYC process before transactions at a beneficiary (merchant) can be accepted. This has implications for the activation process of KUARIO outlets.
New outlets for new beneficiaries (merchants with payment) will not accept any transactions until KYC has been successfully completed. Due to this rapid adjustment, it is not possible to communicate this clearly via the KUARIO manager or the KUARIO outlet. A general message will appear on the KUARIO manager: “Error while adding this new outlet! No new outlets can currently be added for this site because the Know Your Customer (KYC) process has not been completed. Please, finalize the KYC process first”.
As far as already activated KUARIO outlets of beneficiaries with payment who have not yet successfully completed Oonex’ KYC process are concerned, the situation remains unchanged. However, within 60 days, the beneficiary must have completed KYC. We will ask these beneficiaries to complete the process. If this is not successfully completed within 60 days, we will deactivate the KUARIO outlets until KYC has been successfully completed.
We trust that we have fully informed you about this. The KUARIO Team
Posted Jun 05, 2023 - 17:48 CEST
This scheduled maintenance affected: Services (Business Portal).