Know Your Customer (KYC) Policy

Effective Date: April 23, 2025
Last Updated: April 23, 2025

1. Introduction

RinxaPay Services (“RinxaPay”, “we”, “us”, or “our”) is committed to preventing fraud, identity theft, and financial crimes by adhering to the Know Your Customer (KYC) guidelines mandated by the Reserve Bank of India (RBI) and other regulatory authorities. This policy outlines our procedures for customer identification and verification to ensure a secure and compliant platform.

2. Purpose

The primary objectives of this KYC Policy are to:

  • Verify the identity of our customers.
  • Prevent the use of RinxaPay for money laundering or other illicit activities.
  • Comply with all applicable legal and regulatory requirements.

3. Scope

This policy applies to all individuals and entities who register or transact on the RinxaPay platform, including but not limited to tenants, landlords, vendors, and merchants.

4. Customer Identification Process

To establish a customer’s identity, RinxaPay collects and verifies the following information:

  • Individuals:
    • Full Name
    • Date of Birth
    • Residential Address
    • PAN Card
    • Aadhaar Card (for e-KYC)
    • Valid government-issued photo ID (e.g., Passport, Voter ID, Driving License)
  • Entities:
    • Company Name
    • Registered Address
    • Corporate Identification Number (CIN)
    • PAN Card
    • Authorized Signatory Identification

5. Verification Methods

RinxaPay employs the following methods for customer verification:

  • e-KYC: Utilizing Aadhaar-based electronic verification through UIDAI.
  • Video KYC: Conducting live video interactions to verify identity.
  • Document Verification: Manual verification of uploaded documents.

6. Risk Assessment

Customers are categorized based on risk levels:

  • Low Risk: Individuals with verifiable identities and transparent sources of funds.
  • Medium Risk: Individuals with limited transaction history or incomplete documentation.
  • High Risk: Individuals or entities with suspicious activities or from high-risk jurisdictions.

Enhanced due diligence is performed for medium and high-risk customers.

7. Ongoing Monitoring

RinxaPay continuously monitors transactions to detect unusual or suspicious activities. Transactions that deviate from a customer’s typical behavior may trigger alerts and require further investigation.

8. Record Maintenance

All KYC records, including identification documents and transaction history, are securely stored for a minimum of five years after the end of the customer relationship, in compliance with regulatory requirements.

9. Data Privacy

RinxaPay is committed to protecting customer data. All personal information collected during the KYC process is handled in accordance with our Privacy Policy and applicable data protection laws.

10. Reporting Obligations

In cases where suspicious activities are identified, RinxaPay will report such instances to the Financial Intelligence Unit – India (FIU-IND) as per the guidelines under the Prevention of Money Laundering Act (PMLA), 2002.

11. Policy Review

This KYC Policy is reviewed periodically to ensure compliance with current laws and regulations. Updates to the policy will be communicated to customers through our website.

Contact Us:

For any questions or concerns regarding this KYC Policy, please contact us at: