Know your customer or commonly known as KYC is a process of collecting information that businesses do to verify the identity of their clients in order to ensure tax/legal compliance in different countries that they do business in and fight fraud and/or avoid any illegal intentions towards the business relationship.
Why do we ask these details?
In order to ensure tax compliance, creation, or listing of valid events and security of all its users, be it, organizers, or attendees. We aim to be fraud-free and to safely transfer your ticket sales revenue to you. Townscript has had event organizers who have committed bad practices on the platform, we want to make sure it doesn’t repeat.
What details do we ask?
We ask for basic details like name and address. CIN (Company Identification Number) if you are signing up as a company.
To verify your identity, we ask for a valid ID proof like PAN or Aadhaar number.
Your GST number in case you are GST registered.
Your bank account details to send your ticket sales revenue to you.
Note: Our compliance team may ask you for Event/Venue permission document and event day photographs in addition to the Bank and Tax details.
When do we ask these details?
You have to provide these details only once and it can be done before or after creating your event.
Where can you fill these details?
You can visit the KYC details section by clicking on the Billing section in the profile drop-down.
What happens to your details?
We at Townscript are very serious about keeping your details safe with us. All your details will only be consumed by us to verify your identity and will not be shared with anyone.