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Halyard Pay policy

KYB Acquirer

74 proposed revisions across 5 of 5 reviewed releases, including 2 breaking changes.

Current policy

policy.md

Acquirer KYB (Know Your Business) Obligations

Acquirers processing transactions on the Mastercard network are required to perform Know Your Business (KYB) due diligence on merchants before onboarding and on a recurring basis thereafter. Halyard Pay, as an acquirer, must collect and verify a minimum set of documents for each merchant to establish business legitimacy, confirm beneficial ownership, and satisfy anti-money laundering screening requirements.

When this policy applies

This policy applies to all new merchant onboarding and to all periodic re-verification reviews. Merchants that fail to supply required documentation within the stipulated period must be suspended from processing until compliance is restored.

Required actions

  1. Collect all required KYB documents at onboarding prior to approval.
  2. Conduct AML screening against applicable watchlists before approval.
  3. Verify business licenses for regulated merchant categories.
  4. Schedule a full re-verification review at least once every 365 days.
  5. Document all verification outcomes and retain records for audit purposes.

Source authority: Mastercard SPME §2.1.

rules.yaml

program: Acquirer KYB
authority: Mastercard SPME §2.1
required_documents:
  - incorporation
  - beneficial_ownership
  - aml_screen
  - license_verification
min_review_cycle_days: 365
suspension_trigger: document_collection_failure
record_retention_years: 7
aml_watchlist_sources:
  - ofac_sdn
  - eu_consolidated
agent_owner: kyb_agent

Authorized by

SPME §2.1 — Acquirer Obligations — Merchant Due Diligence

Proposed changes across releases

Jun 2022 → May 2023
15 changes
substantive §11.2 MATCH Standards substantive §11.2.1 Certification substantive §11.2.6 MATCH Record Retention substantive §2.2.5 SDP Program Noncompliance Assessments substantive §2.2.6 Mandatory Compliance Requirements for Compromised Entities substantive §2.3.1 Global Vendor Certification Program substantive §2.3.2 Additional Card Production Requirements substantive §7.1 Screening New Merchants, Sponsored Merchants, and ATM Owners substantive §7.1.1 Required Screening Procedures substantive §7.1.3 Assessments for Noncompliance with Screening Procedures substantive §7.3 Merchant Education substantive §9.4.2 Non–face-to-face Gambling Merchants substantive §9.4.3 Pharmaceutical and Tobacco Product Merchants substantive §9.4.6 High-Risk Cyberlocker Merchants substantive §9.4.7 Recreational Cannabis Merchants (Canada Region Only)
May 2023 → Sep 2023
20 changes
substantive §1.5.1 Compliance with Privacy, Data Protection and Information Security Requirements substantive §11.1 MATCH Overview substantive §11.1.2 How does MATCH search when conducting an inquiry? substantive §11.2.1 Certification substantive §11.2.3 Inquiring about a Merchant substantive §2 Cleared, meaning the Acquirer transferred the Transaction Data within the substantive §2.1.1 Payment Card Industry (PCI) Security Standards substantive §2.2 Mastercard Site Data Protection (SDP) Program substantive §2.2.2 Merchant Compliance Requirements substantive §2.2.4 Mastercard Cybersecurity Incentive Program (CSIP) substantive §2.2.5 SDP Program Noncompliance Assessments substantive §2.3 Card Production Security Standards substantive §2.4.1 PIN Entry Devices (PEDs) and Encrypting PIN Pads (EPPs) substantive §3.13.2 Acquirer Information breaking §8.6.7 Franchise Management Program (FMP) Questionnaire-based Review substantive §8.7.3 Mastercard Notification to Acquirers substantive §9.2 General Registration Requirements substantive §9.4.5 Skill Games Merchants substantive §9.4.8 High-Risk Securities Merchants substantive §9.4.9 Cryptocurrency Merchants
Sep 2023 → Feb 2024
9 changes
substantive §1.5.1 Compliance with Privacy, Data Protection and Information Security Requirements substantive §11.2.2 When to Add a Merchant to MATCH substantive §11.2.3 Inquiring about a Merchant substantive §11.7.1 Privacy and Data Protection breaking §2.1.1 Payment Card Industry (PCI) Security Standards substantive §2.2.1 Customer Compliance Requirements substantive §2.2.3 Service Provider Compliance Requirements substantive §2.2.5 SDP Program Noncompliance Assessments substantive §8.6.7 Franchise Management Program (FMP) Questionnaire-based Review
Feb 2024 → Sep 2024
8 changes
substantive §2.2.2 Merchant Compliance Requirements substantive §2.2.3 Service Provider Compliance Requirements substantive §2.2.4 Mastercard Cybersecurity Incentive Program (CSIP) substantive §2.2.5 SDP Program Noncompliance Assessments substantive §2.2.6 Mandatory Compliance Requirements for Compromised Entities substantive §2.3 Card Production Security Standards substantive §2.3.2 Additional Card Production Requirements substantive §2.4.1 PIN Entry Devices (PEDs) and Encrypting PIN Pads (EPPs)
Sep 2024 → May 2025
22 changes
substantive §1.5.1 Compliance with Privacy, Data Protection and Information Security Requirements substantive §11 It is the Acquirer's obligation to confirm that the results from MATCH Pro are relevant to the substantive §11.13 MATCH Merchant Removal from MATCH Pro substantive §11.3 MATCH Pro Standards substantive §11.5 When to Add a Merchant to MATCH Pro substantive §11.5.1 Acquirer Responsibility: Requests for Removal from MATCH Pro substantive §11.6 Inquiring about a MATCH Merchant substantive §11.6.3 Phonetic Possible Matches substantive §2.2 Mastercard Site Data Protection (SDP) Program substantive §2.2.1 Customer Compliance Requirements substantive §2.2.3 Service Provider Compliance Requirements substantive §2.2.5 SDP Program Noncompliance Assessments substantive §7.1 Screening New Merchants, Sponsored Merchants, and ATM Owners substantive §8.6.8 Coercion Program Performance Assessments substantive §9.2 General Registration Requirements substantive §9.4.2 Non-face-to-face Gambling Merchants substantive §9.4.3 Pharmaceutical and Tobacco Product Merchants substantive §9.4.4 Government-owned Lottery Merchants substantive §9.4.5 Skill Games Merchants substantive §9.4.7 Recreational Cannabis Merchants (Canada Region Only) substantive §9.4.8 High-Risk Securities Merchants substantive §9.4.9 Cryptocurrency Merchants