When “Know Your Customer” (KYC) laws evolve, payments systems needs to follow. Recently a new set of legislation around payments and money laundry has been implemented in EU and our payment provider updated some routines due to this. The changes to the Flattr system are minimal, but this is what has changed.

  • If you are a business customer with a company owned by shareholders the verification process was historically quite cumbersome for submitting the Ultimate Beneficial Owner(s). We have now replaced the PDF you needed to download, sign, scan and upload with a simple web form, yay!
  • Creators that are businesses or organisations now need to supply an official registration identifier number when signing up or verifying account.
  • Account verification is now not available for creator accounts until you have enough revenue to withdraw it (currently $10). This is to lessen administration overhead and to not request and handle personal data until KYC laws demands it (at withdraw).

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