How seedpay meets state & Federal BSA, KYC, AML
seedpay employs a real-time machine learning compliance engine that reviews and maintains appropriate oversight on all of our merchants, with changes in status being reported daily. seedpay complies with the requirements of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws and regulations, and follows the Financial Crimes Enforcement Network (FinCEN) and Department of Treasury guidelines. Any merchant who can satisfy our compliance requirements is able to use seedpay to process their payments electronically, and pay their bills and taxes digitally.
seedpay creates safer communities by stopping the use of cash before it enters high risk ecosystems. This also reduces the possibility of commingling of funds which can lead to money laundering. seedpay delivers higher levels of security, transparency and accountability for merchants and banking partners.