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White-Label Card

A bank card product provided by a third-party service, allowing enterprises to customize branding, features, and fee policies. Ideal for quickly launching a branded payment experience.

Virtual Card

A non-physical card existing only in an app or mobile wallet, supporting online spending or integration with Apple Pay / Google Pay for offline payments.

Card BIN (Bank Identification Number)

The first few digits of a card number (usually 6), used to identify the issuing institution and card network type, such as Visa or MasterCard.

Security & Identity Authentication

MPC (Multi-Party Computation)

A distributed key management mechanism where multiple parties jointly generate and manage private keys. Ensures no single party can control funds independently, enhancing wallet security.

Google Authenticator (GA)

A time-based one-time password (TOTP) app used for two-factor authentication, improving account login and operation security.

Compliance Processes

KYC (Know Your Customer)

A process to verify the identity of end-users, typically including document upload, facial recognition, and risk assessment. Users who have not completed KYC cannot access core functions.

KYB (Know Your Business)

A process to identify business clients (e.g., exchanges, wallets), verifying legal representatives and business nature. It is a pre-requisite for merchant onboarding.

AML (Anti-Money Laundering)

Mechanisms to detect and prevent illegal fund flows, including terrorist financing, illicit money transfers, and other suspicious activities.

KYT (Know Your Transaction)

A mechanism for real-time monitoring and risk assessment of each on-chain and off-chain transaction to prevent abnormal activities.

Sumsub

A third-party identity verification service integrated within KeySecure, supporting KYC/KYB, user verification, and blacklist checks.

IV. Merchant Configuration & System Components

woekspace ID / App ID

Unique identifiers for a merchant’s wallet woekspace and associated app on the KeySecure platform, used for on-chain configuration and identity recognition.

Budget Account

A USD account for card spending and refunds. Digital assets (e.g., USDT) can be deposited and converted to USD. The system checks this account’s balance to determine card spending eligibility.

Reserve Ratio Policy

A strategy managing the proportion between budget account balances and user assets. Proper configuration improves payment success rates and optimizes fund usage efficiency.