Last updated: 4 September 2023
Azteco takes its responsibilities very seriously. Our aim is to follow the global leaders in software services like Apple; to maintain maximum convenience and privacy to law abiding citizens who are the vast majority of the global population, and where possible, assist law enforcement when the proper procedure is followed. At each point Azteco touches the legacy fiat system, we ensure that we are in compliance with the law and have procedures in place to make sure this is always true.
Your responsibilities as an Azteco Reseller
Azteco will only accept money payments from resellers to top up their accounts through a bank where they have been previously screened and KYC/AML vetted. We do not operate and refuse reseller account applications from persons or corporations based in or trading from countries that appear on the United Nations Security Council’s sanctions list (Balkans, Belarus, Burma, Cote D'Ivoire Ivory Coast, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe). Azteco is not responsible for chargebacks or failures of the payment methods chosen by our resellers.
Azteco cannot receive money payments outside of the banking system. We do this so that we may be absolutely confident that all of our resellers have been properly scrutinized and are free of ML risk. Azteco Reseller accounts must be associated 1:1 with a Reseller’s identity and/or business name as found on the bank account. We outsource all KYC/AML operations for individuals to IDCoin, https://www.idcoin.netLink to: https://www.idcoin.net.
Reseller customers buy their vouchers by paying through a means accepted by the reseller, and the reseller must strictly follow FATF guidelines, and all local laws. The relevant section of the FATF guidelines is extracted below.
https://www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.htmlLink to: https://www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.html
All Azteco Vouchers are limited to a maximum face value of USD/EUR 1000 or local currency equivalent. Azteco is in line with all other voucher and gift card companies that are not required to KYC/AML users of their services. The jurisdictions our resellers operate in may have their own local laws, and our resellers are responsible for following those laws, and under no circumstances shall any Azteco entity be held liable for a reseller’s use of the Azteco Voucher System, or any consequence whatsoever arising from the use of the system. Consumers of Azteco Vouchers are occasional users and not members or customers with accounts or balances. Azteco follows the FATF guidance in all G20 countries, and all jurisdictions where our service is made available to resellers. Azteco does not operate in countries that appear on the international sanctions list.
An Azteco Reseller is not selling Bitcoin. Azteco Resellers sell Voucher Codes. These Voucher Codes are identical to iTunes, Amazon and the thousands of other “Gift Card” and Top Up vouchers sold globally.
The business classification of an Azteco Reseller
Azteco Resellers are not Money Transmitters. Azteco is not a Bitcoin Custodian. Resellers sell vouchers that are identical to the vouchers sold by iTunes, Amazon and thousands of other online and offline retail outlets. Redeemable coupons do not attract Money Transmitter status for the companies that print them. Azteco resellers do not store Bitcoin or send Bitcoin; all Bitcoin operations are done by Azteco, and the reseller only sells vouchers with 16 digit codes for a fee, identical in every way to stores selling mobile phone air time, Amazon and Apple gift cards without any connection to the goods sold by Amazon and Apple. Azteco Resellers receive 16 digit codes that are not money or representations of money. They do not transmit these codes; the user sends them to Azteco for redemption.