Omexi Pay: Your Compliance & Security FAQ
Omexi Pay: Your Compliance & Security FAQ
Navigating financial services requires trust, and trust is built on clarity. This FAQ addresses the most common questions we receive about how Omexi Pay makes sure security, complies with local and global regulations, and protects your business. For specific account questions, please contact our support team at contact@omexipay.com.
Navigating financial services requires trust, and trust is built on clarity. This FAQ addresses the most common questions we receive about how Omexi Pay makes sure security, complies with local and global regulations, and protects your business. For specific account questions, please contact our support team at contact@omexipay.com.
A. Regulation & Licensing: Our Operational Foundation
A. Regulation & Licensing: Our Operational Foundation
1. What İs Omexi Pay's regulatory status?
1. What İs Omexi Pay's regulatory status?
Omexi Pay Ltd. is a registered MSB with licence registration number C100000572 in Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “PCMLTFA”), supervised by the FINTRAC. This mandates strict Anti-Money Laundering (the “AML”), Counter-Terrorist Financing (the “CTF”), and Know Your Customer/Business (the “KYC/KYB”) programs.
Omexi Pay Ltd. is a registered MSB with licence registration number C100000572 in Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “PCMLTFA”), supervised by the FINTRAC. This mandates strict Anti-Money Laundering (the “AML”), Counter-Terrorist Financing (the “CTF”), and Know Your Customer/Business (the “KYC/KYB”) programs.
2. How do you operate in Europe and other regions?
2. How do you operate in Europe and other regions?
Outside Canada, Omexi Pay delivers its services through a carefully structured, partner-led model designed to comply with applicable local regulatory requirements. All fiat payment-related services, including vIBAN issuance and payment processing, are carried out via duly authorised and regulated third-party partners, such as licensed banks, Electronic Money Institutions and payment service providers operating in the relevant jurisdictions.
In relation to clients located in the EU and the UK, Omexi Pay adheres strictly to the applicable financial promotion frameworks. The company does not engage in active marketing, advertising or solicitation of customers in jurisdictions where such activity would require local authorisation. Client relationships in these regions arise through existing professional networks and client-initiated enquiries, and services are provided only where permissible under applicable rules.
Outside Canada, Omexi Pay delivers its services through a carefully structured, partner-led model designed to comply with applicable local regulatory requirements. All fiat payment-related services, including vIBAN issuance and payment processing, are carried out via duly authorised and regulated third-party partners, such as licensed banks, Electronic Money Institutions and payment service providers operating in the relevant jurisdictions.
In relation to clients located in the EU and the UK, Omexi Pay adheres strictly to the applicable financial promotion frameworks. The company does not engage in active marketing, advertising or solicitation of customers in jurisdictions where such activity would require local authorisation. Client relationships in these regions arise through existing professional networks and client-initiated enquiries, and services are provided only where permissible under applicable rules.
3. What does your KYC and KYB process involve?
3. What does your KYC and KYB process involve?
As part of our standard onboarding process, and in line with applicable regulatory requirements, Omexi Pay conducts KYC and KYB checks before establishing a business relationship. This process is designed to confirm identity, understand beneficial ownership and obtain an overview of the customer’s business activities and intended use of our services.
Clients are assessed using a risk-based approach, and where appropriate, additional information or clarification may be requested. This may include situations involving more complex ownership structures, certain jurisdictions, or specific business models.
We ask all clients to provide information that is accurate, complete and kept up to date, and to inform us promptly if there are any material changes. This approach helps us maintain a secure, compliant and reliable platform for all parties.
As part of our standard onboarding process, and in line with applicable regulatory requirements, Omexi Pay conducts KYC and KYB checks before establishing a business relationship. This process is designed to confirm identity, understand beneficial ownership and obtain an overview of the customer’s business activities and intended use of our services.
Clients are assessed using a risk-based approach, and where appropriate, additional information or clarification may be requested. This may include situations involving more complex ownership structures, certain jurisdictions, or specific business models.
We ask all clients to provide information that is accurate, complete and kept up to date, and to inform us promptly if there are any material changes. This approach helps us maintain a secure, compliant and reliable platform for all parties.
B. Fund Safety & Handling: Where Your Money Is
B. Fund Safety & Handling: Where Your Money Is
1. Does Omexi Pay hold or safeguard my funds?
1. Does Omexi Pay hold or safeguard my funds?
No. Omexi Pay is not a deposit-taking institution. Omexi Pay does not hold, or safeguard Client funds at any time. We are a regulated intermediary that facilitates transactions.
No. Omexi Pay is not a deposit-taking institution. Omexi Pay does not hold, or safeguard Client funds at any time. We are a regulated intermediary that facilitates transactions.
2. Where is my fiat currency held, and is it safe?
2. Where is my fiat currency held, and is it safe?
Client fiat funds are held by our regulated banking and electronic money institution partners in designated safeguarding or client money accounts, operated in accordance with applicable local regulatory requirements. These accounts are separate from Omexi Pay’s own operational funds and are maintained for the purpose of holding client funds on a pooled basis.
Where client funds are held in pooled or omnibus accounts, individual client balances are tracked and reconciled on an internal ledger basis, rather than through separate bank accounts in each client’s name. Omexi Pay does not use client funds for its own purposes.
The safeguarding arrangements are implemented by our partners under their respective local regulatory frameworks. Deposit guarantee schemes, where applicable, may not apply to client money or safeguarding accounts, or may apply only at the level of the account holder rather than individual underlying clients. The precise treatment depends on the applicable local law and the partner’s licence.
Client fiat funds are held by our regulated banking and electronic money institution partners in designated safeguarding or client money accounts, operated in accordance with applicable local regulatory requirements. These accounts are separate from Omexi Pay’s own operational funds and are maintained for the purpose of holding client funds on a pooled basis.
Where client funds are held in pooled or omnibus accounts, individual client balances are tracked and reconciled on an internal ledger basis, rather than through separate bank accounts in each client’s name. Omexi Pay does not use client funds for its own purposes.
The safeguarding arrangements are implemented by our partners under their respective local regulatory frameworks. Deposit guarantee schemes, where applicable, may not apply to client money or safeguarding accounts, or may apply only at the level of the account holder rather than individual underlying clients. The precise treatment depends on the applicable local law and the partner’s licence.
3. What are your responsibilities versus your banking partners?
3. What are your responsibilities versus your banking partners?
We facilitate, instruct, and coordinate your transactions. However, the execution, settlement, and safeguarding of funds are performed by our licensed Third-Party Service Providers. We select partners based on the highest regulatory and security standards.
We facilitate, instruct, and coordinate your transactions. However, the execution, settlement, and safeguarding of funds are performed by our licensed Third-Party Service Providers. We select partners based on the highest regulatory and security standards.
C. Cryptocurrency Services & Security
C. Cryptocurrency Services & Security
1. Does Omexi Pay custody of my cryptocurrency?
1. Does Omexi Pay custody of my cryptocurrency?
No. Our Digital Asset On-Ramp/Off-Ramp Services are strictly non-custodial. We facilitate the conversion between fiat and specific Stablecoins but do not custody, manage, or store your digital assets on an ongoing basis.
No. Our Digital Asset On-Ramp/Off-Ramp Services are strictly non-custodial. We facilitate the conversion between fiat and specific Stablecoins but do not custody, manage, or store your digital assets on an ongoing basis.
2. Which cryptocurrencies do you support?
2. Which cryptocurrencies do you support?
We currently support conversions for the following major Stablecoins:
- USDT (Tether): On the Ethereum (ERC-20) and Tron (TRC-20) networks (may not be applicable for EU-based customers)
- USDC (USD Coin): On the Ethereum (ERC-20) network.
We focus on widely adopted, regulated assets to ensure liquidity and stability. This list may be updated based on market and regulatory developments.
We currently support conversions for the following major Stablecoins:
- USDT (Tether): On the Ethereum (ERC-20) and Tron (TRC-20) networks (may not be applicable for EU-based customers)
- USDC (USD Coin): On the Ethereum (ERC-20) network.
We focus on widely adopted, regulated assets to ensure liquidity and stability. This list may be updated based on market and regulatory developments.
3. How are the crypto conversion services secured?
3. How are the crypto conversion services secured?
While we do not custody assets, the conversion process is integrated with our platform's overall security (bank-grade encryption, 2FA) and compliance controls (transaction monitoring). The actual conversion is handled by our institutional-grade liquidity partners.
While we do not custody assets, the conversion process is integrated with our platform's overall security (bank-grade encryption, 2FA) and compliance controls (transaction monitoring). The actual conversion is handled by our institutional-grade liquidity partners.
D. Platform Security, Privacy & Your Responsibilities
D. Platform Security, Privacy & Your Responsibilities
1. What technical security measures do you use?
1. What technical security measures do you use?
- Encryption: All data is protected with bank-grade AES-256 encryption, both in transit (TLS) and at rest.
- Access Control: Mandatory Two-Factor Authentication (2FA) is required for all sensitive actions, including logging in and approving transactions. 2FA is mandatory both when creating a beneficiary and when initiating a payment.
- Infrastructure: We employ dedicated security teams, continuous monitoring, and regular independent penetration testing.
- Encryption: All data is protected with bank-grade AES-256 encryption, both in transit (TLS) and at rest.
- Access Control: Mandatory Two-Factor Authentication (2FA) is required for all sensitive actions, including logging in and approving transactions. 2FA is mandatory both when creating a beneficiary and when initiating a payment.
- Infrastructure: We employ dedicated security teams, continuous monitoring, and regular independent penetration testing.
2. How is my data protected?
2. How is my data protected?
We comply with applicable data protection laws (like PIPEDA and GDPR). Our Privacy Policy details our practices. We collect only necessary data to provide services and comply with law. Confidential Information is protected under our agreement, and we implement appropriate technical and organisational measures to protect personal data.
We comply with applicable data protection laws (like PIPEDA and GDPR). Our Privacy Policy details our practices. We collect only necessary data to provide services and comply with law. Confidential Information is protected under our agreement, and we implement appropriate technical and organisational measures to protect personal data.
3. What are my key responsibilities as a client?
3. What are my key responsibilities as a client?
You agree to several critical obligations under our Terms:
- Lawful Use: Use Services only for lawful purposes. Prohibited uses include any activity that constitutes or relates to money laundering, terrorist financing, tax evasion and fraud.
- Accuracy: Provide and maintain accurate information.
- Account Security: You are solely responsible for the confidentiality and security of your login credentials. Activity from your account is deemed authorized by you.
- Sanctions Compliance: You warrant you are not subject to sanctions and will not use Services for sanctioned activities.
- No Consumer Transactions: You must not initiate consumer-to-business (C2B) transaction flows.
You agree to several critical obligations under our Terms:
- Lawful Use: Use Services only for lawful purposes. Prohibited uses include any activity that constitutes or relates to money laundering, terrorist financing, tax evasion and fraud.
- Accuracy: Provide and maintain accurate information.
- Account Security: You are solely responsible for the confidentiality and security of your login credentials. Activity from your account is deemed authorized by you.
- Sanctions Compliance: You warrant you are not subject to sanctions and will not use Services for sanctioned activities.
- No Consumer Transactions: You must not initiate consumer-to-business (C2B) transaction flows.
E. Compliance, Monitoring & Operations
E. Compliance, Monitoring & Operations
1. How do you monitor transactions?
1. How do you monitor transactions?
We monitor 24/7 using automated systems and compliance analysts for patterns indicative of money laundering, fraud, or sanctions violations, as required by our MSB license. The agreement permits us to delay or decline processing pending satisfactory completion of its internal review.
We monitor 24/7 using automated systems and compliance analysts for patterns indicative of money laundering, fraud, or sanctions violations, as required by our MSB license. The agreement permits us to delay or decline processing pending satisfactory completion of its internal review.
2. Can you suspend my account?
2. Can you suspend my account?
Yes, we may suspend services with notice where there is a reasonable suspicion of unlawful activity, a material breach of terms, failure to provide requested information, or if required by a regulator.
Yes, we may suspend services with notice where there is a reasonable suspicion of unlawful activity, a material breach of terms, failure to provide requested information, or if required by a regulator.
3. What happens if there is a system outage or delay?
3. What happens if there is a system outage or delay?
We provide services on an "as-is" and "as-available" basis. While we target high availability, however delays can occur due to partner systems, compliance checks, or market conditions.
We provide services on an "as-is" and "as-available" basis. While we target high availability, however delays can occur due to partner systems, compliance checks, or market conditions.
4. How can I report a security vulnerability?
4. How can I report a security vulnerability?
We take security seriously. Please report any suspected vulnerability responsibly and in confidence to contact@omexipay.com.
Need more details? The full terms governing our relationship are set out in the Omexi Pay Service Agreement and supplemental documents. This FAQ is for guidance and does not override those formal terms.
For further compliance questions contact us!
We take security seriously. Please report any suspected vulnerability responsibly and in confidence to contact@omexipay.com.
Need more details? The full terms governing our relationship are set out in the Omexi Pay Service Agreement and supplemental documents. This FAQ is for guidance and does not override those formal terms.
For further compliance questions contact us!
Common Questions & Answers
Common Questions & Answers
Here’s everything you need to know about Payble, from features to getting started.
Here’s everything you need to know about Payble, from features to getting started.
Got any specific questions?
Who can open an Omexi Pay account?
Omexi Pay is available to individuals, freelancers, entrepreneurs, and businesses worldwide. Whether you need a secure way to manage personal finances or a scalable solution for international transactions, we’ve got you covered.
Do I need a business to open an account?
How do I open an Omexi Pay account?
How long does it take to open an Omexi Pay account?
Can I open an Omexi Pay account online?
Does Omexi Pay support international payments?
Can I hold multiple currencies in my Omexi Pay account?
Is Omexi Pay secure?
Can I integrate Omexi Pay with accounting software?
Are there any account fees?
How do I get started?
Who can open an Omexi Pay account?
Omexi Pay is available to individuals, freelancers, entrepreneurs, and businesses worldwide. Whether you need a secure way to manage personal finances or a scalable solution for international transactions, we’ve got you covered.
Do I need a business to open an account?
How do I open an Omexi Pay account?
How long does it take to open an Omexi Pay account?
Can I open an Omexi Pay account online?
Does Omexi Pay support international payments?
Can I hold multiple currencies in my Omexi Pay account?
Is Omexi Pay secure?
Can I integrate Omexi Pay with accounting software?
Are there any account fees?
How do I get started?
Who can open an Omexi Pay account?
Omexi Pay is available to individuals, freelancers, entrepreneurs, and businesses worldwide. Whether you need a secure way to manage personal finances or a scalable solution for international transactions, we’ve got you covered.