To successfully complete the Glossary
Procedures ensuring the verification of a customer's identity and risk assessment. Know Your Customer (KYC) procedure and start accepting payments through the website, it is necessary to meet Visa and Mastercard requirements for online processing. Apart from guaranteeing that the website is user-friendly with active and accessible pages, fair prices, and trustworthy outcomes, compliance with the legal aspects of e-commerce operations is essential.

The checklist below summarizes the general requirements that need to be met on your website.

Legal requirements

Legal requirements are designed to ensure compliance with the law, protect the rights of individuals and entities, and govern various aspects such as privacy, data security, and contractual obligations.

Terms and conditions

Your terms and conditions are the legal document that outlines the rights and responsibilities of you and your customers.

• It must be on an easily accessible separate page.
• The legal entity should be listed as a contracting party, including the registered address and, preferably, the registration number.
• The country of the legal entity should be the legal jurisdiction listed under the governing law clause. For instance, if the legal entity is registered in Guide
  Basic documents across jurisdictions. Cyprus , the governing law of the terms and conditions shall be the laws of Cyprus.

Privacy policy

A privacy policy is a legal statement providing customers with essential information about their data rights, how their information is handled, and the measures in place to protect their privacy.

• It must be an easily accessible separate page.
• It should identify a Data controller, who is always the contracting legal entity.
• A privacy policy should include:
  • A detailed description of the types of personal or sensitive information that is collected.
  • How the personal information is collected, such as through website forms, cookies, or third-party services.
  • The purposes for which the personal information is collected, such as to provide services, market products, or comply with legal requirements.
  • Whether personal information is disclosed to any third parties.
  • The rights customers have concerning the personal data collected by the merchant, such as the right to access, correct, or delete their personal data.

Fulfillment policies

Fulfillment policies are rules and procedures that govern how a business fulfills customer orders. If they are part of the terms and conditions, they are legally binding, and customers must agree to them before a purchase. If they are separate policies, they need to be easily accessible on the website.

• Refund policy, or money-back policy, outlines the conditions under which customers are eligible to receive a refund.
• Return policy details the conditions under which customers can return purchased goods.
• Cancellation policy specifies the conditions under which customers can cancel the subscription.
• Delivery policy describes how, where, and when goods are shipped. For example, for physical goods.

Consent to website policies

Customer’s consent to website policies is a way to protect your business and ensure that they understand and agree to follow the rules for your website, app, or business.

• The customer’s consent to the website policies must contain hyperlinks to the existing website policies. For example, a checkbox on the account registration form or checkout page should include the agreement statement, “By continuing, I agree to the Terms and conditions, Privacy policy, Subscription policy, and Refund policy”.

Merchant location rule

A merchant location rule determines the country of the transaction, which is crucial for tax assessment, regulatory compliance, and currency conversion during payment processing.

• The company address, at least city and country, should be displayed on or before the checkout page, for example, in the footer on the website homepage.

Customer service contacts

Customer service contacts refer to the designated channels of communication through which customers can seek assistance, support, or information about a product or service.

• Customer service email address and phone number should be displayed in visible areas on the website, for example, in the footer.
• Contact details can be on a separate “Contact us” page where customers can find all Customer service information, including operating hours and expected response time.

Payment page

A Guide
Easily create a safe and simple payment page. payment page is a web page where users initiate and complete financial transactions. This page typically includes fields for entering payment information, such as credit card details or billing addresses, and it serves as the final step in the purchase process. Payment pages are critical for securely processing payments and often incorporate encryption and other security measures to protect sensitive data.

• The website must have a fully functioning payment page. If a website is not fully functional, a test or beta version website should be provided.
• All website pages, including the payment page, must be under the same domain name or subdomain.
• The purchasing currency must be displayed for customers.
• For the Guide
  Create and maintain a stable and healthy business subscription model. subscription services, customers should be able to find the following information before the checkout:
  • The total price of the subscription
  • Description of a service to be purchased, including subscription details, trial access, or premium plan
  • Frequency of further charges (monthly, weekly, or yearly)
  • Ways a cardholder gets notified of any changes to the agreement, for example, by mail
  • The last four digits of the card used for payment
  • Subscription cancellation options like the link to Cancellation policy

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