We Focus on Adhering to the Highest Compliance Standards，committed to Providing Safe, Compliant, and Transparent Financial Services for Users
WebitPay's credit card products focus on legal compliance, ensuring that all operational processes adhere to global and regional regulatory requirements. We firmly believe that compliance is the cornerstone of financial services, and that only by abiding by legal regulations and protecting user interests can we establish a long-term and robust business. Below are our specific measures and commitments regarding legality, KYC (Know Your Customer), and Anti-Money Laundering (AML).
Legality and Licensing
The WebitPay credit card is issued and operated by a financial institution registered and regulated in Hong Kong. Our services and products are strictly operated in accordance with the laws and regulations of Hong Kong and comply with the requirements of local and international financial regulatory bodies. We ensure that all operational processes meet statutory regulations and undergo regular independent audits to ensure transparency and compliance. Additionally, we hold the necessary financial licenses and relevant permits, ensuring that our business operates legally and compliantly, allowing customers to use our services with peace of mind.
Complete Electronic KYC Process to Ensure User Identity Security
We employ advanced electronic KYC (Know Your Customer) technology for identity verification to protect our customers' personal information and funds. WebitPay collaborates with Shufti Pro, a global leader in electronic KYC technology, to fully implement automated identity verification processes. Our KYC process combines biometric technology (such as facial recognition) with automated data matching systems to swiftly and accurately verify user identities, reducing the risk of identity theft and fraud. The electronic KYC process not only shortens the review time, allowing users to quickly access services, but also ensures high compliance standards. During the identity verification process, we strictly adhere to relevant laws and regulations, such as the Personal Data (Privacy) Ordinance (PDPO), to safeguard customer privacy and data security. Furthermore, all customer information will be encrypted and stored securely, and will only be used for necessary compliance purposes, ensuring that information is protected against unauthorized access or misuse.
Strict AML Compliance Management to Prevent Illegal Activities
To prevent financial crimes, we implement strict Anti-Money Laundering (AML) policies on our platform. WebitPay monitors transaction activities in real-time, identifying suspicious transactions and reporting them to relevant regulatory bodies. Our AML system automatically detects abnormal transaction patterns, ensuring that the platform is not used for any form of illegal activities, including money laundering and terrorist financing. Our compliance team regularly updates and optimizes our AML policies to ensure we can respond to the ever-changing risk environment. Additionally, we maintain close cooperation with multiple international regulatory bodies to ensure that our anti-money laundering measures comply with global best practices. Our AML processes include:
•Customer Due Diligence (CDD): Conducting detailed identity verification at user registration and account opening.
•Transaction Monitoring: Real-time detection and analysis of high-risk transactions and unusual behaviors.
•Sanctions List Screening: Regularly comparing customer information against international sanctions lists to ensure our services are not exploited by sanctioned individuals or organizations.
•Regular Audits and Training: We provide ongoing compliance training for our staff to enhance the team's ability to manage financial crime risks.
Our Compliance Commitment: Transparency, Trust, and Long-term Development
WebitPay's core goal is to provide users with reliable payment services that meet the highest compliance standards. Our compliance framework not only covers Hong Kong's regulatory requirements but also aligns with international standards. We recognize that compliance is the foundation of maintaining market trust in the fintech industry. Therefore, we commit to continuously optimizing and enhancing our compliance capabilities, ensuring transparent operations on the platform, and safeguarding user rights and data security. In the future, we will continue to strengthen our risk management capabilities, adopting the latest technologies and solutions to ensure we remain at the forefront of compliance management. We believe that by adhering to compliance practices, we can not only gain the trust of our customers but also achieve long-term and stable business growth.
WebitPay is built on high standards of compliance requirements, comprehensively ensuring the security and transparency of the platform through legality, electronic KYC, and AML compliance. We are dedicated to establishing a compliant and trustworthy payment platform, allowing customers to use our services with confidence while ensuring our business meets local and international regulatory requirements. Compliance is not only the core of our business operations but also our long-term commitment to our users and the market.