Knowing your customer (KYC) is only part of the battle in making sure payments — and just about everything else tied to a business — are secure. In fact, KYC is but one of a long string of acronyms on the checklist for businesses across verticals, and here’s another one: know your business (KYB).

KYB — in other words, knowing the business with which one is transacting — also takes center stage, especially in an environment in which companies are expanding globally.

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Source: PYMNTS