The information is requested in accordance with the new European payment service directive, also known as PSD2, the second payment service directive. The payment directive apply to all marketplaces in EU handling money between buyers and sellers.
What information is needed?
In accordance to the the new EU directive, Karma needs to have up to date information about your business and an assigned representative.
More specifically, following information is required:
- Company registration number
- Account number and sort code
- VAT number
- Representative's name, date of birth, address and ID verification
- Company ownership and director
We might be in touch and request additional verification details in the future, this will happen as your payout amount increases.
The information requested is in compliance with EU regulations and GDPR standards.
What is this new Payment directive?
With the new Directive (EU) 2015/849, money will have to be transfered directly through our PSD2 compliant payment service provider Stripe. Stripe is PCI Level 1 certified and meet the requirements made for online payments. Using Karma will continue to be safe, smooth and compliant with European law. Stripe is trusted by companies such as Facebook, Unicef and Pinterest.
All information submitted is GDPR compliant and securely stored by Stripe.
I want to know more
Please contact us if you want to know more. Write to us in the chat or send us an email at email@example.com