Dear PointPay community,
We are excited to share an important update regarding PointPay's licensing progress. Currently, we are actively pursuing multiple licenses to enhance our operations worldwide. Our primary focus is obtaining a license to operate in the United States, while also ensuring compliance with the latest regulations introduced in Europe.
To adhere to these new regulations, we have recognised the need for improvements in our current KYC system. The existing system falls short in collecting all the required data. Consequently, we will soon request all users who have already completed the KYC process, have to undergo the procedure AGAIN with a new provider that meets the new and improved standards. This will also improve the overall security of our platform.
Rest assured, the new KYC procedure will bear similarities to the current one, while incorporating essential data compliance and technical security enhancements. Once you successfully complete the verification process, you will continue to enjoy the full range of services offered by the PointPay platform.
This transition to a more stringent KYC provider will enable us to obtain licenses in Europe and North America, make PointPay more secure and ultimately facilitate the continued provision of our services to a global audience.
We sincerely appreciate your cooperation throughout this process.
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