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What is Account Verification (eKYC) and what does this mean for you?

What is Account Verification (eKYC)?

eKYC stands for Electronic Know Your Customer. In the old days, it was just KYC (Know Your Customer) where it involved the traditional way of compiling sensitive data of the users on paper for security purposes. Nowadays, it has evolved into a digital way that is both remote and time- and cost-saving. KYC is literally a procedure to identify the user to avoid problems such as identity thief, scams, fraud, etc.

In a simple sense, KYC is just a procedure to check if the user is really who he says he is. While eKYC is the digitalization of the said procedure.

What does this mean for you?

Now comes the question: What does it have to do with you? Well, to ensure security purposes are met, especially when handling financing value, we desire to know you, our valued users, for who you really are. We would love to handle the financial processes, settlement processes, and other monetary value processes in the right way. 

Features such as Cash On Delivery and many more innovations to come in EasyParcel revolve around the monetary value process. Because of that, we, as well as many other financial institutions, would require you to verify your account to expedite the process. Learn here on how to verify your account successfully and enjoy the features.

EasyParcel is the author of this solution article.

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