Objective

QUID has implemented a “best practices” Policy for the onboarding of Users (“Buyers”) and Merchants (“Sellers”) who wish to make and receive payments respectively. As a payment processor, QUID is required to collect and verify identity documentation for our customers. “Know Your Customer” (KYC) regulations exist in every jurisdiction in which QUID operates and generally require us to:

  • Collect information about the individual or company receiving funds
  • Verify that the information is accurate

In addition to the KYC requirements, QUID is must also take reasonable efforts to prevent the laundering of money through the use of our service. These rules are generally referred to as "Anti-Money Laundering" (AML) regulations.

Overview

Sellers are typically individuals and/or businesses who are providers of a variety of digital content or services and wish to accept small payments (also known as micropayments) for their digitally delivered content and services.

Users (“Buyers”) have the ability to make small payments for the digital content and services they wish to use, whether that be accessing and reading general articles of interest, listening to podcast episodes, or making donations to charitable causes of their choice to name a few examples.

Both Sellers and Buyers must have accounts on the QUID Platform in order to use QUID’s payment services. 

Onboarding Buyers

Buyers are required to have a QUID Account. In order to obtain an account each buyer will be required to provide QUID with their full name, their email address, and their telephone number. The name a buyer provides at sign up will be verified and matched to the name on the credit card used for their payment transactions

As the buyers make payments using their QUID account, QUID maintains a transaction history for each Buyer. This allows QUID to easily identify and match the payment transactions between a buyer and a specific Seller. 

Additionally, QUID, through the use of technology integrated into their operating platform collects a variety of other pieces of identifier data for each buyer and seller. This is a non-exhaustive list of the data captured:

  • The user’s IP Address used to access the QUID website
  • The date and time of access 
  • The make and model of the device used (if available)
  • The device ID
  • The operating system and version number
  • The browser used and version number 
  • The type of device used, such as desktop, tablet, laptop, or mobile phone (if data is available). 

Should any one buyer reach $1,000.00 of payments in any given day, QUID will verify the buyer does not exist on the OFAC Sanctions and OFAC SDN Watchlists as well as the Canadian Watchlists by scanning their full name and email address against all OFAC Watchlists and the Canadian Sanctioned Individuals Watchlist

Onboarding Sellers

Each Seller must open a QUID Merchant Account in order to receive payments for their content or service. Opening an account is a two-step process:

  1. Create a QUID Merchant Account: The Seller must enter identity information on the QUID platform such as their full name, full address, their date of birth, email address, mobile and/or other telephone number, banking information for payout deposit, any “Doing Business As” (DBA) names associated with the business, and business Tax ID Number or in the case of a charitable organization, the full name of the charitable organizations name and any aliases, as well as the charitable organization registration number.
  2. Be verified and enabled for payouts: The Seller must also submit personal identity documents and business confirmation documents such as: a copy of Government Issued Photo Identity, proof of address in the form of a bank statement or utility and/or telecommunication bill, a copy of the business registration and/or license (or a copy of the registration for the charitable organization) when it applies.

Sellers will be able to open a QUID Account and accept payments from buyers during the verification process, however Sellers will be unable to receive their payments until each Seller has become verified. 

The verification process is a multi-step process that consists of the following:

  1. The collection of information and data from the Seller, as outlined above, both about the individual and about the business itself. 
  2. The verification and confirmation, by QUID, of the information and/or documents provided by the Seller.
  3. The scanning of the individual’s name and the business name against both the OFAC Sanctions Watchlists and the Canadian Specific Sanctions Watchlists.

For a Seller Who is a Sole Proprietor 

A sole proprietor business is required to submit both personal identification documents as well as business confirmation documents 

For Personal Verification:  a copy of at least one piece of government issued identification such as any one of the following:

  • A Driver’s License
  • Passport
  • Permanent Resident Card or equivalent
  • Secure Certificate of Indian Status
  • A provincial or state Identity Card

For Address Verification a Seller must provide a current (within the last 60 days) bank statement, utility bill, or telecom bill.

For Business Verification: QUID requires a copy of the business license and/or business registration and at least one of the following pieces of information specifically related to the business:

  • A copy of business notice of assessment
  • A copy of a bank statement
  • A copy of a credit card statement in the name of the business
  • A copy of a utility or telcom bill in the name of the business 

Verification Process

To confirm and verify the identity of the individual Seller, the full name provided by the Seller during the creation of the account  must match exactly with the full name on the provided copy of the government issued identification.

The copy of the government issued identification must be of a good and clear quality, must not have expired, thereby, current and valid, and must not appear to have been altered in any way.

To confirm the Seller’s address, the document must match the full address the Seller entered on QUID’s platform. The copy must be of a good and clear quality, must be recent (within 60 days), and must not appear to have been altered in any way.

To confirm and verify the existence of the Seller’s business, the name of the business and any other identifier information to be found on the Business License or Registration must match exactly with the information the Seller entered on QUID’s platform when creating an account. The copy of the document supplied must be of good and clear quality, must be valid, and must not appear to have been altered in any way.

The business name may be verified against the specific business registry for the province or state from or in which the business is stated to operate. This verification is used to confirm the existence of the business and to verify the name and address of the business matches exactly as the Seller entered the information upon signing up for their account.

Website Verification

In addition to verifying identity and business documentation, QUID conducts a verification of the business’s website and/or social media presence and also reviews buyer feedback where and when it exists and/or is applicable. The website review is conducted to ensure the validity of the business as well as to ensure the digital property content abides by QUID’s terms and conditions. QUID also reviews Seller’s Websites to ensure the content or service provided by the Seller is not found on QUID’s Prohibited list (Prohibited List can be found below).

OFAC Sanction Watchlist and Canadian Watchlist Screening

At the onboarding stage: QUID scans both the Seller’s Personal Name and Business name (where applicable) against both the OFAC Sanctions Watchlists as well as all Canadian Sanctions Watchlists.

Should a confirmed positive hit to one or any of the Sanctions Watchlists occur, the Seller’s account will be suspended and no further payouts to the Seller will be made. It will be at QUID’s discretion to make a voluntary SARS report to FINCEN however any positive hit against an OFAC list will be reported to OFAC as per OFAC Instructions which can be found here.

Throughout the duration of the business relationship, QUID will periodically rescan the names of all Sellers, the business entity, and the DBA name (if applicable) against all OFAC Sanctions Watchlists and all Canadian Sanctions Watchlists If at any time a confirmed positive hit against any Sanctions Watchlist occurs, the Seller’s account with be suspended and they will be blocked from conducting any transactions. 

If the confirmed hit was against the OFAC Sanctions Watchlist, QUID will take the appropriate steps to notify OFAC as per OFAC instructions which can be found here. It will be at the sole discretion of QUID to submit a voluntary SARS report to FINCEN.

Failed Verification 

If a Sole Proprietor Seller refuses to abide by QUID’s request for identity verification information and documents or if the name of the Seller is found to be on either the OFAC Sanctions Watchlists or any of the Canadian Sanctions Watchlists, the Seller’s account will be suspended, and the Seller will be blocked from gaining access to the products and services QUID offers. A suspended account cannot accept payments.

If a Seller’s information cannot be confirmed through QUID’s various tools and identity verification processes, the Seller will be notified. As a best practice, QUID will allow for one additional attempt for a Seller to provide authentic, true, and valid identity information and business documentation in order to be successfully verified. During the time between QUID’s request, the Seller providing the required identity information, and the identity information being successfully confirmed and verified, the Seller will be able to receive payments from Users up to a total of $1,000.00 but will be unable to receive funds through QUID’s Merchant payout process.

If the total payments accepted exceeds $1,000.00 during the Seller reverification, or if this subsequent attempt to verify and confirm identity and the existence of the business is still unsuccessful, the Seller will be notified and their account with be deactivated and closed. At this time any QUID payment buttons or API calls implemented by the Seller will cease to function for the Seller.

Upon successful reverification, the Seller’s account will be reactivated and, if applicable, the QUID payment buttons and API calls will resume functioning for the Seller, and all funds accepted will be available for the Seller to receive through QUID’s Merchant payout process. 

If at any time the Seller’s name or the name of the business appears on an OFAC Sanctions Watchlist, the OFAC Hotline will be called and the instructions provided by OFAC will be followed which may include the Seller’s account to be closed, at which point any QUID payment buttons or API calls implemented by the Seller will cease to function for the Seller. In this instance, they will be blocked from gaining any further access to QUID. At the sole discretion of QUID, a voluntary SARS report to FINCEN will be made. 

For a Seller Who is a Business Entity

A business entity (Incorporation, Partnership, Cooperative) is required to submit both personal identification documents as well as the business entity confirmation documents.

For Personal Verification: For each Beneficial Owner, that is any person or entity that controls, either directly or indirectly, 25% or more of the business entity, and for any Account Administrator of the business entity, QUID requires a copy of at least one piece of government issued identification such as any one of the following:

  • A Driver’s License
  • Passport
  • Permanent Resident Card or equivalent
  • Secure Certificate of Indian Status
  • A provincial or state Identity Card

To confirm personal physical address, each Beneficial Owner or any Account Administrator of the business entity, must provide a current (within the last 60 days) bank statement, utility bill, or telecom bill

For Business Verification: QUID requires a copy of the business formation documents such as: 

  • The articles of Incorporation
  • Partnership agreement
  • Cooperative Agreement

In addition, at least one of the following pieces of information specifically related to the business, of which one document must confirm the business address the Seller entered when opening their QUID Account:

  • A copy of the business license (if applicable)
  • A copy of business notice of assessment
  • A copy of a bank statement
  • A copy of a credit card statement in the name of the business
  • A copy of a utility or telcom bill in the name of the business

If not entered at the time of the account opening, the Seller must supply all DBA (Doing Business As) names.

Verification Process

To confirm and verify the identity of each Beneficial Owner, signatories, and the administrator of the account (if applicable), the full name of each individual provided by the Seller during the creation of the account must match exactly with the full name on the copy of the government issued identification supplied for each referenced individual. 

The copy of the government issued identification must be of a good and clear quality, must not have expired, thereby, current and valid, and must not appear to have been altered in any way.

To confirm the Seller’s address, the document must be in the name of the business and must match the business name and the full address the Seller entered on QUID’s platform. The copy must be of a good and clear quality, must be recent (within 60 days), and must not appear to have been altered in any way.

To confirm and verify the existence of the Seller’s business, the name of the business and any other identifier information to be found on the Business License or Registration must match exactly with the information the Seller entered on QUID’s platform when creating an account. The copy of the document supplied must be of good and clear quality, must be valid, and must not appear to have been altered in any way.

The business name may be verified against the specific business registry for the province or state from or in which the business is stated to operate. This verification is used to confirm the existence of the business and to verify the name and address of the business matches exactly as the Seller entered the information upon signing up for their account.

Website Verification

In addition to verifying identity and business documentation, QUID conducts a verification of the business’s website and/or social media presence and also reviews buyer feedback where and when it exists and/or is applicable. The website review is conducted to ensure the validity of the business as well as to ensure the digital property content abides by QUID’s terms and conditions. QUID also reviews Seller’s Websites to ensure the content or service provided by the Seller is not found on QUID’s Prohibited list (Prohibited List can be found below).

OFAC Sanction Watchlist and Canadian Watchlist Screening

QUID scans all Beneficial Owners, any individual who has signing authority, and/or an Account Administrator, as well as the Business name and the DBA (Doing Business As) name(s) against both the OFAC Sanctions Watchlists as well as all Canadian Sanctions Watchlists.

At the onboarding stage, the Seller’s business name, DBA name (if applicable) and the names of all Beneficial Owners, all signatories, and any account administrators will be scanned against both the OFAC Sanctions Watchlists as well as all Canadian Sanctions Watchlists.

Should a confirmed positive hit to one or any of the Sanctions Watchlists occur, the Seller’s account will be suspended and no further payouts to the Seller will be made. It will be at QUID’s discretion to make a voluntary SARS report to FINCEN however any positive hit against an OFAC list will be reported to OFAC as per OFAC Instructions which can be found here.

Throughout the duration of the business relationship, QUID will periodically rescan the names of all Sellers, the business entity, the DBA name (if applicable), all Beneficial Owners, all signatories, and any account administrators against both the OFAC Sanctions Watchlists and all Canadian Sanctions Watchlists. If at any time a confirmed positive hit against any Sanctions Watchlist occurs, the Seller’s account with be suspended and they will be blocked from conducting any transactions. 

If the confirmed hit was against the OFAC Sanctions Watchlist, QUID will take the appropriate steps to notify OFAC as per OFAC instructions which can be found here. It will be at the sole discretion of QUID to submit a voluntary SARS report to FINCEN.

Failed Verification 

If a Business Entity Seller refuses to abide by QUID’s request for any individual or business verification information and documents or if the name of the Seller or the business entity and/or the DBA name of the business is found to be on either the OFAC Sanctions Watchlists or any of the Canadian Sanctions Watchlists, the Seller’s account will be suspended, and the Seller will be blocked from gaining access to the products and services QUID offers. A suspended account cannot accept payments. 

If a Seller’s information cannot be confirmed through QUID’s various tools and identity verification processes, the Seller will be notified. As a best practice, QUID will allow for one additional attempt for a Seller to provide authentic, true, and valid identity information and business documentation in order to be successfully verified. During the time between QUID’s request, the Seller providing the required identity information, and the identity information being successfully confirmed and verified, the Seller will be able to receive payments from Users up to a total of $1,000.00 but will be unable to receive funds through QUID’s Merchant payout process.

If the payments accepted exceeds $1,000.00 during the Seller reverification, or if this subsequent attempt to verify and confirm the identities of the individuals and the existence of the business is unsuccessful, the Seller will be notified and their account with be deactivated and closed. At this time any QUID payment buttons or API calls implemented by the Seller will cease to function for the Seller.

Upon successful reverification, the Seller’s account will be reactivated and, if applicable, the QUID payment buttons and API calls will resume functioning for the Seller, and all funds accepted will be available for the Seller to receive through QUID’s Merchant payout process. 

If at any time the Seller’s name or the name of the business appears on an OFAC Sanctions Watchlist, the OFAC Hotline will be called and the instructions provided by OFAC will be followed which may include the Seller’s account to be closed, at which point any QUID payment buttons or API calls implemented by the Seller will cease to function for the Seller. In this instance, they will be blocked from gaining any further access to QUID. At the sole discretion of QUID, a voluntary SARS report to FINCEN will be made. 

Unverified Sellers Account

Unverified Seller Accounts who have accumulated up to $1,000.00 in their account are charged a $50.00 a month “non-verified” account fee. This fee will be charged for the duration of the account remaining unverified or until all funds have been applied to the monthly fee whichever happens first. 

Prohibited Content

The following is a list of prohibited content. This is a non-exhaustive list and QUID reserves the sole discretion and right to prevent payments to Sellers who are providing content QUID deems is illegal, illicit and/or criminal.

  • Content or videos which depict child pornography
  • Content or videos which depict bestiality
  • Content or videos which incite hate 
  • Content or videos promoting suicide 
  • Content or videos showing an assault or murder
  • Content or videos showing of a rape or sexual assault
  • Content or videos depicting drug use or the use of drug paraphernalia 

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