Customer identity verification
Customers may be required to verify phone number, email, name, BVN or NIN, address, selfie or liveness checks before higher wallet limits or sensitive features are enabled.
AML and KYC
Identity checks and transaction monitoring for safer money movement.
This policy explains how Vokal Finance verifies customers, merchants and agents for Vokal Pay, applies tiered limits and monitors activity for fraud and financial-crime risks.
Verification
KYC controls are matched to account type and risk.
Vokal Pay uses progressive verification so customers can start safely while stronger features, higher limits and business tools require stronger evidence.
Merchant and agent review
Business users, merchants and agents may be asked for business registration details, owner or director information, operating category, settlement information and supporting documents.
Tiered limits
Vokal Pay applies tiered account limits based on verification level, product type, account history, regulatory expectations and internal risk controls.
Monitoring
Suspicious activity is reviewed through controlled operations.
Compliance reviews are designed to protect customers, merchants, Vokal Finance and the wider financial system.
01
Risk screening
Vokal Finance may screen users, businesses, devices, payment patterns and transaction references for fraud, sanctions, account takeover, mule activity and prohibited use.
02
Ongoing monitoring
Transactions, deposits, withdrawals, vouchers, QR collections, bill payments and support activity may be reviewed to detect unusual or suspicious behaviour.
03
Enhanced due diligence
Accounts with higher risk signals, business activity, unusual volume or unresolved identity concerns may require extra review before limits are increased or services continue.
04
Restrictions and reporting
Where required, Vokal Finance may restrict an account, pause a transaction, request more information, decline a service or make reports to the appropriate authority.
05
Record retention
KYC, transaction, support and compliance records may be retained for fraud prevention, dispute handling, audit, accounting and regulatory obligations.
Customer duties
Users must keep account information honest and current.
False information, impersonation, document misuse, transaction masking or helping another person bypass controls can lead to account restriction.
01
Provide accurate information
Customers, merchants and agents must provide truthful identity, contact, business and transaction information.
02
Do not share credentials
Users must protect passwords, OTPs, transaction PINs, devices and recovery information. Vokal Pay will never ask for full PINs or passwords through chat or phone support.
03
Respond to review requests
Where compliance asks for additional information, users should respond through official Vokal Pay channels only.