For a merchant to accept MasterCard® and Visa® online and offline, there are basic rules that you must follow to remain compliant. By following these rules, you will create a better business image, reputation, increase customer satisfaction, and ensure that you do not run into any non-compliance and liability issues. Operating a non-compliant website may put your business in jeopardy of not being able to accept credit cards both online and offline.
When it comes to Internet and MOTO (Mail Order/Telephone Order) processing, please use this information as a guideline:
As part of most standard underwriting requirements for Internet merchants, and based on the requirements set forth in the Visa and MasterCard regulations, Credit and Risk departments are required to perform a thorough audit of a merchant’s website and marketing material.
This information should be shared with your web designer when setting up your company website. Meeting the following requirements will ensure compliance with all Visa and MasterCard regulations and make the approval process move faster, and reduce the likely hood of your application being placed on hold or denied.
Must be completely operational and address points #1thru #9.
eCommerce & MOTO Websites
If you are planning to accept payments over the Phone or Internet, you must know that Visa/MasterCard regulations require all e-commerce sites to meet all 16 points.
The following items are part of Visa and MasterCard website requirements:
- Customer subscription plans cannot exceed 12 months. (preferably 3 months or less)
- Clear posting of the description of goods or service offered.
- Clear posting of delivery methods and timing.
- Clear posting of General Terms and Conditions of sale. (e.g. Refund/exchange/cancell
ation or applicable warranty policies)
- Clear posting of Refund and Return Policy in full detail. The cardholder must know their options before purchasing the product/service.
- Clear posting of customer service telephone number and/or email address.
- Company name should be identified when a customer calls in and when they are sent to voice mail.
- Clear posting of the company's legal name or DBA name and address on the website. Must match the merchant application.
- Display office hours or customer service hours.
- Clear posting of the "billed as" descriptor.
- An opportunity for a customer to review all information before submitting an order. – either "click to accept" or a last chance to cancel or modify the order.
- Merchant must provide a secure check out page and method for the transmission of payment data used. (i.e. a secured SSL).
- Provide currency of the transaction. (e.g. US dollars)
- Display Visa, MasterCard, American Express, and Discover logos.
- Provide us with a statement/document of website ownership. It should match the legal name on the merchant application submitted.