Summary
Entities are resources for which payments are made. An entity can be either an individual or a business and can have one or multiple users assigned to it.
Compliance Requirements
Entities may need to undergo a compliance check depending on your approved model. This process ensures that the entity meets regulatory and legal standards, including:
- Identity Verification: Confirming the identity of the entity.
- Risk Assessment: Evaluating the potential risk associated with the entity.
- Regulatory Adherence: Ensuring compliance with anti-money laundering (AML) and Know Your Customer (KYC) regulations.
Note
Requirements for creating an entity may change if you are not currently onboarded with Routefusion. Compliance requirements may also vary based on the nature of the entity and the jurisdiction in which it operates.