Hyperwallet Payee Verification Process (Know Your Customer)
Once TourRadar has created a TourRadar Wallet for a Travel Agent, the agent will receive an email containing instructions on how to complete the Payee Verification Process (KYC).
The agent will be expected to complete this verification successfully to engage with the Hyperwallet platform to receive payments for their bookings.
Hyperwallet has provided further information outlining the process:
- Payee Verification Overview for individuals and businesses anywhere
- Payee Verification Explained for US and EU Businesses
Hyperwallet. (2021, March 20). Payee Verification: US Businesses - PayPal Enterprise & Marketplace Payouts, Powered by Hyperwallet [Video]. YouTube.
Hyperwallet. (2021, March 20). Payee Verification: EU Businesses - PayPal Enterprise & Marketplace Payouts, Powered by Hyperwallet [Video]. YouTube.
If a Travel Agent is located outside of the US or EU regions, the verification process will still be very similar. There may be differences in the type, or amount, of information required from the travel agent during the verification process.