Verification checks

Learn about the MarketPay KYC process and verification checks.


Each account holder will need to pass KYC (Know Your Customer) in order to payout. The required information for KYC is determined by your account holder's legal entity type – Business or Individual – and the country of the account holder.

We categorize the required information for KYC into these check types:

Each check has a required set of fields, with the required fields different per country. You can choose whether you want to collect all the required information using the staggered approach or upfront.

Once all information that is required by a verification check is provided, Adyen performs verification.

Verification statuses

Each verification check has a status representing the current state and what action to take with the check. All statuses can reduce into what actions needs to be taken:

Verification status Description Action to take
AWAITING_DATA

There is still data missing to perform the verification.

Request required information from a sub-merchant.
DATA_PROVIDED All the required data has been provided. None.
PENDING

Verification is being executed.

None (will move to another state once the validation is completed).
INVALID_DATA There are errors in the data provided. Request information from a sub-merchant.
RETRY_LIMIT_REACHED The data has been updated too many times. Request information from a sub-merchant.
PASSED

The verification has been passed successfully.

None.
FAILED Adyen has verified the information, but has found reasons to refuse working with this entity.

If you think this state was reached in error, reach out to Support Team.

Refer to the documentation for each specific check to know more about the possible reasons and required actions.

Notifications

Whenever a verification check has its status updated, a corresponding ACCOUNT_HOLDER_VERIFICATION notification will be sent. This notification contains the content.verificationType, which specifies which verification check was updated, and the check's new status, content.verificationStatus.

Each notification has a KYC verification code representing why the given status was reached. Refer to the Verification codes page for each code and what they represent.

Here is an example notification for the Identity check that was updated to the state of INVALID_DATA.

{
   "eventType":"ACCOUNT_HOLDER_VERIFICATION",
   "executingUserKey":"99",
   "live":"true",
   "pspReference":"9914748891540065",
   "content":{
      "accountHolderCode":"TestAccountHolder546296",
      "verificationType":"IDENTITY_VERIFICATION",
      "verificationStatus":"INVALID_DATA",
      "statusSummaryItems":[
         {
            "KYCCheckDataSummaryItem":{
               "itemCode":90003,
               "itemDescription":"Test reason for 'Invalid data' status"
            }
         }
      ]
   }
}

Staggered or front-loaded KYC

You have the choice to collect all KYC information in a staggered approach, collecting information only when needed, or front-load your information collection, collecting all KYC information up front.

Collecting all KYC information upfront is generally a larger burden for your sub-merchant and can negatively affect conversion but immediately unlocks payment processing and payout. This also means you will not need to go back to your sub-merchant to collect information later.

Collecting the KYC in a staggered approach enables a faster initial sign-up and generally a higher conversion. Though this means you will need to go back to your sub-merchant to request information at later stages.

If want to front-load your KYC information collection, reach out to Support Team to enable.

See also