Setting Up Light Cards (KYC)

#Understanding Light Cards

Light cards are:

• Physical Cards: Issued to employees for in-person and online purchases
• Virtual Cards: Single-use card numbers for online vendors
• Instant Load: Funds available immediately after loading
• Spend Control: Limits can be set per card or per employee
• Auto-Reconciliation: Card transactions automatically feed to expense module

Light partners with card providers to issue cards and process transactions.

#Card Types

Physical Card:

• Credit card style (Visa or Mastercard)
• Issued in employee's name
• Can be used in stores, online, ATM
• PIN protected
• Typically $5,000-$25,000 limit

Virtual Card:

• Single-use card number
• No physical card
• Used for online purchases only
• Auto-expires after single use
• Ideal for high-risk or one-time purchases

Commercial Card:

• For larger organizations
• Centrally managed by Finance
• Stronger controls and reporting
• Can have different limits by employee

#KYC Verification Process

Before issuing a card, Light must verify the employee:

#Step 1: Employee Information Collection

1. Employee opens Light app or portal

2. Navigates to Cards > Request Card

3. Provides information:

   • Full Legal Name: As it appears on ID
   • Date of Birth: Required for verification
   • Social Security Number (US) or equivalent: For identity verification
   • Home Address: Current residential address
   • Phone Number: For verification calls
   • Employment Status: Full-time, contractor, etc.

4. Click Continue

#Step 2: Identity Verification

Light verifies identity through:

Option 1: Automated Verification

1. Light checks against databases (credit bureaus, ID verification services)
2. Typically instant or within 1 hour
3. Light notifies employee: "Verified" or "Manual review needed"

Option 2: Manual Verification

1. If automated verification fails or uncertain

2. Light sends request for document upload:

   • Government ID: Driver's license, passport, national ID
   • Proof of Address: Utility bill, bank statement, lease agreement

3. Employee uploads documents

4. Light compliance team reviews (typically 24-48 hours)

5. Approved or additional information requested

#Step 3: Company Information

1. Light collects company details:

   • Company legal name
   • Company address
   • Tax ID / EIN
   • Industry type

2. Light verifies company is legitimate

3. Typically instant

#Step 4: Beneficial Ownership (If Applicable)

For larger organizations:

1. Light may request beneficial ownership information
2. Who are the actual owners of the company
3. Required for AML (Anti-Money Laundering) compliance
4. Already available if company incorporated

#Step 5: Approval and Card Issuance

1. Once KYC approved:

   • Employee receives notification: "Your card has been approved"
   • Card is shipped (physical card: 5-7 business days)
   • Virtual card available immediately

2. Card arrives with:

   • PIN (mailed separately for security)
   • Welcome package
   • Usage guidelines

3. Employee activates card in app:

   • Confirm receipt
   • Set PIN (physical card)
   • Review limits and settings

#KYC Compliance

Light must comply with regulations:

Bank Secrecy Act: Verify customer identity USA PATRIOT Act: Check against OFAC lists (sanctions) AML Regulations: Monitor for suspicious activity GDPR/Privacy: Protect personal data

KYC process ensures compliance. Light deletes personal identifying documents after verification (keeps only approval status).

#Card Setup After Approval

#Activating Physical Card

1. Receive physical card in mail (5-7 business days)
2. Open Light app
3. Navigate to Cards > My Cards
4. Click Activate Card
5. Enter card number (last 4 digits)
6. Verify arrival date
7. Create PIN (separate mail or in app)
8. Card is active and ready to use

#Setting Up Virtual Card

1. In app, navigate to Cards > Request Virtual Card

2. Enter:

   • Merchant: Who you're buying from (optional, for reference)
   • Card Purpose: What you're buying
   • Amount: Limit for this virtual card (e.g., $500)
   • Expiration: When card expires (e.g., next 30 days)

3. Light generates:

   • Card Number: 16 digits (valid for single use)
   • Expiration Date: When card expires
   • CVV: Security code

4. Use in online checkout

5. Card self-destructs after single transaction

#Card Limits and Controls

#Setting Personal Spending Limits

Employees can set their own card limits:

1. In app, navigate to Cards > [Card Name]

2. Click Settings

3. Set limits:

   • Daily Limit: Max per calendar day (e.g., $1,000)
   • Monthly Limit: Max per month (e.g., $10,000)
   • Single Transaction Limit: Max per purchase (e.g., $5,000)
   • Merchant Restrictions: Block certain types (e.g., no gambling, nightclubs)

4. Click Save

#Admin-Level Controls (Finance Team)

Finance controls limits for all cards:

1. Navigate to Cards > Manage Cards

2. View all employee cards

3. For each card, set:

   • Card Limit: Maximum on card
   • Department Limit: Max for entire department
   • Merchant Categories: Allowed/blocked categories
   • Geographic Limits: Only allow in specific countries

4. Limits override employee settings (admin limits are stricter)

#Card Activity and Reconciliation

#Monitoring Card Transactions

Transactions automatically feed to expense module:

1. Open app, navigate to Cards > Recent Activity

2. View all recent transactions:

   • Merchant name
   • Amount and currency
   • Date and time
   • Status (pending, cleared)

3. Transactions show in Expense Management automatically

4. Categorized by AI

5. Manager approval workflow applies

#Fraud Alerts

Light monitors for suspicious activity:

• Unusual amount: Transaction far above normal
• Geographic anomaly: Card used in unexpected location
• Multiple rapid transactions: Quick succession of purchases
• Merchant suspicious: Known fraud or high-risk merchants

Alerts trigger:

• Card can be temporarily frozen
• Employee notified to confirm transaction
• Finance team alerted if needed

#Card Replacement and Reissuance

#Lost or Stolen Card

1. Contact Light immediately (app chat or phone)

2. Light freezes card instantly (stops transactions)

3. Report details:

   • When lost
   • Suspected fraud (if applicable)

4. Card is cancelled

5. New card shipped (5-7 business days)

6. Meanwhile:

   • Use virtual cards for online purchases
   • Or corporate account for emergencies

#Damaged Card

1. Request replacement in app
2. Light ships new card
3. Old card can be returned or destroyed

#Expired Card

1. New card automatically shipped 30 days before expiration
2. Typically arrives before expiration
3. Activate new card in app
4. Old card automatically disabled

#Employee Card Offboarding

When employee leaves company:

1. Employee returns physical card
2. Light cancels card immediately
3. Any pending transactions are reviewed
4. Final expenses are reimbursed if needed
5. Card activity is archived

Card is deactivated and cannot be used after offboarding.

#Related Articles

• Issuing and managing corporate cards
• Virtual cards
• Apple Pay and Google Pay