If you are a seller on a platform, Adyen may store your KYC information in accordance with the applicable legal requirements. These laws and regulations are in place to make sure that we check for terrorist financing, money laundering, tax evasion or other financial crimes.
KYC information can, for example, be a passport, or other identification documentation information such as a driving license or utility bill.
Adyen is legally required to keep all KYC documentation including identification documents for a period of 5 years after the end of the relationship.
Adyen applies a tiered approach to the information it requests from you. The applicable tier that you fall into depends on the value of the products of services you are selling. Generally, however the higher the value the more information Adyen requires in order to verify your identity.