Know Your Seller (KYS) is the process of verifying seller identities on online marketplaces and similar e-commerce platforms to ensure security and the integrity of transactions, guaranteeing that sellers are genuine. Common methods of verification include document ID verification, selfie verification, among other methods used in the traditional Know Your Customer (KYC) process. The goal of KYS verification is to prevent criminals from opening new accounts and engaging in illicit activities, such as marketplace fraud.
By asking the seller to upload their ID and complete a quick biometric check, online marketplaces ensure that sellers aren’t creating multiple accounts. Multi-accounting often goes against the rules, and is considered to be closely linked to other fraudulent practices, such as selling inauthentic items on the marketplace, conducting account takeovers, and similar activities. While Know Your Seller is a legal requirement in many regions, some platforms also use it to minimize risks and protect their reputation.
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