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  2. Payment Instrument Verification (PIV) Feature

Payment Instrument Verification for KYC

Paydentity incorporates payment authentication with enhanced due diligence (EDD) Know Your Customer (KYC) to remotely link a person’s verified identity to an electronic payment, in order to satisfy Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulatory requirements. As allowed by the UK’s 2017 JMLSG AT S.5.3.89, iSignthis creates a secret that is inserted into the account, which secret must be retrieved and confirmed by the payment services user to prove access and control of their account.