What's the Know Your Merchant (KYM) process?

The Know Your Merchant (KYM) process is a way for Globe, through its subsidiary, G-Xchange, Inc., to verify the legitimacy of a business that wishes to use GXI's products and services. This is done via face-to-face verification (be ready for a visit to your business premises). During the KYM process, the authorized Globe representative shall:

  • Meet with the business owner or authorized representative
  • Request for business papers
  • Make an ocular inspection to determine the legitimacy of the business
  • Verify as to what kind of industry classification you business belongs
  • Inform that after your business has been accredited, you will get a GCash card and your Merchant Operating Guide via mail.

 

To be exempted from the Know Your Merchant your company must already be:

A. An existing Globe myBusiness customer AND

B. Availing of Globe Charge via a Postpaid Bundle 

 

In addition, if your company is engaged in any of the following activities, it will NOT be exempted from Know Your Merchant process:

        A. Telecommunication services, including, but not limited to, prepaid phone services and recurring phone services. This type of transaction includes of a Card in both Card-reading and non-Card-reading.

                       Ex. Load retailers

        B. Computer Network/Information Services. These are providers of computer networks, information services, and other online services such as e-mail or Internet access.

                       Ex. Internet cafes

        C. Direct Marketing Inbound Telemarketing Merchants

                       Ex. Outsourced telemarketers

Please see the table below for reference:

 

 

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