Payment gateway requirements when reviewing a website

August 18, 2022

Tags: E-Commerce, IT Staff Augmentation, Managed Teams

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In order for a web page to receive online payments for its products or services, it must comply with certain legal requirements so that they can have a functional and effective payment gateway.

 

A payment gateway is a platform created and also provided by banks to a website so that you can have an online store, or an electronic commerce window, and receive payments through it.

 

The operation of these payment gateways is similar to that of a physical point of sale in any location, what it does is validate all the operations carried out with a credit card in order to ensure that the money is transferred correctly to the account of the business.

 

Website requirements to receive credit card payments

 

Full color Visa and Mastercard symbol to indicate acceptance of these cards

 

The Visa and Mastercard symbol, two of the most important credit card providers worldwide, must be visible on the payment gateway when entering the credit card data to make the purchase. This indicates that both companies officially approve the platform that the website uses to receive payments.

 

A complete description of all the goods and services offered

 

On the e-commerce site, there must be a clear and detailed description of all the products and/or services that the company offers to its customers and users. For a bank, when providing the service of a payment gateway platform, this is essential so that the customer knows exactly what he is going to buy.

 

Have a Refund/Return Policy

 

Having a refund or return policy is essential to give customers security when they want to make a purchase, knowing that if something happens to the product or they are not satisfied with it, they have options to return it or get their money back.

 

Terms and Conditions, including the responsibilities of the cardholder according to the applicable legislation

 

The terms and conditions section is one of the most important and, unfortunately, the most ignored by users or customers when making a transaction. It is where all the legal terms and clauses that must be complied with by both the company that sells the product or service and the cardholder are detailed.

 

Customer Service contact information: email, phone, and response time

 

One of the objectives when offering the online purchase option, for the company, is to be able to give confidence to the client, that the cardholder feels safe and that he will not be scammed or anything similar. For a bank to offer its payment gateway platform, the website must have customer service contact information: have an email where they can write, as well as a telephone number and clarify the response time to a request or requirement.

 

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Delivery Policy

 

If necessary for the company, the website must have a delivery and shipping policy that is accessible to the cardholder. A delivery policy is the set of rules and guidelines that describe how the shipping or delivery process of the product that was purchased will be carried out.

 

Permanent address of the establishment

 

If it is a physical establishment, for example, a Walmart or an Ikea, there should be a section on the website where all the available offices in the region or country are shown, even in the world if it is an international company, to which the cardholder can go if needed. This should be kept up to date in the event of the closure of any venue on the list.

 

Consumer Information Privacy Policy

 

Consumer privacy, also known as customer privacy, involves the handling and protection of sensitive personal information provided by customers in the course of everyday transactions. The Internet has become a medium of commerce, making consumer data privacy a growing concern.

 

Show the trade name

 

What is a business name for a company or business? In the Legal Concepts portal, they explain “The company name is the name or official denomination of a company, that is, it is the way of naming the legal person and that allows it to be unequivocally identified. This name is used for formal, legal and administrative uses and does not have to coincide with the commercial name of the company or with the brands it markets”.

 

Present fields to enter the following information: card number, CVV2, cardholder name, and expiration date

 

In the electronic purchases section of the company's website, there should be fields to enter the card information: number, CVV2, cardholder name, and card expiration date. CVV2, or Card Verification Value, is an authentication system established by credit card companies to further efforts to reduce fraud in Internet transactions. The cardholder must enter the CVV2 number at the time of the transaction to verify that the card is available.

 

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