Keap Pay is required by federal law to verify the identity and financial standing of every business that applies to process payments. These requirements come from the Financial Crimes Enforcement Network (FinCEN) and are designed to prevent financial crimes such as money laundering and fraud. Meeting these requirements is what allows Keap Pay to remain operational, expand its features, and continue serving businesses like yours.

This article explains what financial risk means for a payment processor, what information is collected during the Keap Pay application process, and what ongoing check-ins may occur after your account is active. This article does not cover the Keap Pay application steps. For instructions on applying for Keap Pay, see how to set up Keap Pay in your payment settings. For the full list of business types that are not eligible for Keap Pay, see the Keap Pay prohibited businesses list.

What Financial Risk Means for a Payment Processor

Financial risk for a payment processor is the likelihood that a business will generate chargebacks, fraud, or financial instability that cannot be covered. To evaluate financial risk during the application process, the underwriting team reviews your industry category, the nature of your products and services, your terms of service and refund policies, your transaction and chargeback history, and your cash flow. The underwriting team also reviews your business website, promotional materials, and any documentation that describes what clients receive after a purchase, when they receive it, and how they can request a refund.

Maintaining strong financial risk standards allows Keap Pay to stay federally compliant, protect the businesses it serves, and continue expanding the features available to its users. For more information on FinCEN regulations and the Bank Secrecy Act, visit www.fincen.gov or review the FDIC guidance on financial institution compliance.

What Keap Pay Reviews During Your Application

When you apply for Keap Pay, the payments team collects information required by federal Know Your Customer (KYC) and Know Your Business (KYB) regulations. These regulations require payment processors to verify the identity of the businesses and individuals they work with before processing payments on their behalf. In some cases, the payments team will follow up by email to request additional documents or clarification before your application can be approved.

Business Type Eligibility

Certain business categories carry a high risk of chargebacks and fraud and are not eligible for Keap Pay. This determination is based on the business category as a whole, not on the individual business or its history. If your business falls into a prohibited category, your Keap Pay application will be denied. Review the complete list of business types prohibited from using Keap Pay before applying.

Other business categories are not prohibited but require additional documentation before approval can be granted. If your business falls into one of these categories, the payments team will contact you by email to request supporting documents as part of the risk assessment.

Supporting Documentation the Payments Team May Request

If the payments team requests additional documentation during your application, the documents will be used to assess two areas: your financial health and your products and services risks. The specific documents requested will vary by business type. For a detailed list of the documents that may be requested, see the Keap Pay supporting documents for verification article.

Financial Health — The payments team will assess whether your business has a history of excessive chargebacks and whether your cash flow is sufficient to cover refunds and chargebacks if they occur.

Products and Services Risks — The payments team will assess what products and services your business offers, what your terms of service and refund policies state, and how long after payment clients can expect to receive what they purchased. If your business accepts payment in advance of delivery, the payments team will review the timeline between payment and fulfillment.

What Triggers a Financial Check-In After Approval

After your Keap Pay account is active, the payments team may contact you periodically if your financial partners flag a question about your account. These check-ins are not a sign that your account is at risk of being closed — they are a standard part of maintaining a compliant payment processing relationship. Check-ins are triggered by changes or activity in three areas: transaction activity, legal business status, and financial health.

Transaction Activity — Your payment activity is monitored to ensure it remains consistent with what was stated on your application. If transactions fall outside of normal patterns — for example, if payment amounts are significantly higher than what was reported during onboarding — the payments team will contact you to request additional information and an explanation of the transactions in question.

Legal Business Status — Keap Pay requires your business to remain in good standing with the state where it is registered. If your business is marked as legally dissolved, suspended, or no longer in good standing with your state, you will be required to resolve the issue with your state before you can continue using Keap Pay as your payment processor.

Financial Health — When a chargeback or refund occurs, the disputed amount is debited from your connected bank account. If your connected bank account does not have sufficient funds to cover the debited amount, the payments team will contact you to request financial documentation. Maintaining sufficient cash flow in your connected bank account helps prevent interruptions to your Keap Pay account.