Update Your KYC Now

Yes, to comply with regulatory requirements, you must be physically present in India during the verification process.  

If you are a company with a UBO or Director who is based outside of India, we might need them to provide additional requirements, and they can do so from outside of India.  

 What if I’m outside of India but need to complete my verification process? 

Due to regulatory requirements, you cannot complete your verification process if you are physically outside of India. While you are outside India, your application will remain pending, and you can resume the verification process upon your return by accessing the verification link in your Payoneer account.  

To ensure a smooth verification process, please have all the checklist items ready. Make sure you have a stable internet connection, good lighting for the video call, and that your Aadhaar mobile number is active to receive OTPs. Have your physical PAN card readily available for display during the video KYC session.  

Checklist for individuals: 

• Aadhaar number (with access to its linked mobile/email for OTPs) 
• Physical PAN card (no screenshots or e-PAN) 
• Smartphone/computer with webcam, microphone, and stable internet 
• Digilocker access (with your 6-digit security PIN ready) 

This regulatory shift has intensified KYC protocols, requiring more thorough identity verification before providing payment services. These enhanced requirements are designed to ensure financial system integrity, prevent money laundering, and combat financing of terrorism in accordance with India’s strengthened digital payment ecosystem regulations. 

The PA-CB framework imposes stricter compliance standards on companies operating payment systems in India, reflecting the RBI’s commitment to maintaining security and transparency in the rapidly evolving digital payment landscape. 

 To comply with regulatory requirements, you must participate in live video call as part of the verification process.  

For a successful live video call, you need: 

• A smartphone or computer with a camera (minimum 2MP resolution) 
• A microphone enabled 
• Internet connection with minimum speed of 1 Mbps (broadband) or 4G mobile connectivity 
• Adequate lighting to ensure your face is clearly visible 
• Latest version of Chrome, Firefox, Edge or Safari 
• For mobile: Android 6.0+ or iOS 11.0+

During the call, you’ll be asked various questions to verify your identity. You’ll also be asked to present your physical PAN card.be asked other questions to verify your identity.  

If your video session is interrupted due to connectivity issues, you can rejoin the session if it’s within a short timeframe. If the interruption is prolonged, please restart the journey from the verification link in MyAccount. If you cannot rejoin the call within [timeframe], [what do you do? What does “restart the journey” mean and how is it any different than rejoining the same session after a “short” period? Your partial verification data Digilocker remains saved for 3 days only, and you can resume the process from your MyAccount page. 

The Video KYC process typically takes 2 minutes if all your documents are in order and your connectivity is stable. We recommend allocating at least 15 minutes for the entire process to account for any technical issues or additional verification that might be needed.

No special software installation is required. The entire process runs through your web browser. However, you will need to grant browser permission for camera and microphone access when prompted during the Video KYC process. 

GST (Goods and Services Tax) is a tax that we collect from all Indian customers onboarded with Payoneer India Private Limited. We apply 18% tax on all PIPL’s transaction fees, standalone, periodic, and activity fees.

All financial service providers in India are required to collect GST on their service fees.

You can find your monthly GST invoice in your Payoneer account.

Your GST invoice is generated monthly and available for retrieval on the 5th of each month for the previous month’s activities.

GST is charged only on our service fees (transaction fees, standalone fees, periodic fees, and activity fees), not on the principal amount being transferred.

From your Payoneer account, you can access GST invoices under – Manage > Reports and statements > GST documents.

Yes, if you are a GST-registered business in India and provide GSTIN to PIPL, you can claim input tax credit for the GST paid on Payoneer services. Our GST invoices contain all the required information as mandated by GST law to facilitate your input tax credit claims, including our GSTIN invoice number, date, and appropriate HSN/SAC codes for the services provided. 

This is a note we provide you with any non-fee related refunds or commercial credits applied to your Payoneer account. 

From your Payoneer account, you can access your commercial credit note under Manage -> Reports and statements -> GST documents.

Per our terms and conditions, we do not refund fees as they cover platform services that have already been provided. 

A refund typically involves returning funds to the original payment method, while commercial credit is an adjustment added to your Payoneer account that can be applied to future transactions. For regulatory and accounting purposes, commercial credits allow us to provide compensation while maintaining proper GST compliance and transaction records. 

Indian regulations have set a limit per transaction of 2.5M INR. We apply a 4% buffer to that limit to cover for changes in foreign exchange rates. This limit is established under RBI guidelines for Payment Aggregators and Payment Gateway providers, which specify transaction value thresholds to manage risk and ensure proper monitoring of high-value transactions. 

To avoid transaction rejections, please ensure: 

• Your transaction amount is within the 2.5M INR limit (accounting for the buffer) 
• All required purpose codes are correctly specified 
• Your KYC verification is complete and up to date 
• The transaction is in compliance with the Foreign Exchange Management Act (FEMA) regulations 

Outgoing payments may be restricted if: 

• Per the regulations we do not support outgoing payments except for auto withdrawal to your verified bank account.  

While the primary limit is 2.5M INR per transaction, your account may also be subject to aggregate transaction limits based on your KYC level, risk category, and account history. These aggregate limits are aligned with Anti-Money Laundering (AML) requirements and FEMA regulations. If you anticipate high transaction volumes, please contact Customer Care to discuss your business needs and any additional documentation that might be required.