E-commerce is perhaps the newest product/method for businesses to accept payment for goods and services. Simply put, E commerce allows a merchant to accept payment transactions directly from their website. For these online businesses who sell from a website, they require e commerce activation to do so. Visa and Master card always look upon providing merchant services to a business as a risk. They are essentially lending money to the merchant, until the customer who initiated the purchase in turn, pays Visa and Master Card.
Naturally, with this type of lending structure, the credit card companies adjudicate the approval and inception of merchant services to a business based on the level of risk apparent. Visa and Master card will highly scrutinize any website looking to accept E commerce, as the very nature of the transaction itself is not face to face, not physically signed for and the customer has to wait for a “fulfillment” time from when they purchase goods to when they receive their purchase. So right off the bat there are higher risk factors to take into consideration.
As a result of these uncontrollable factors, the requirements even to apply for Ecommerce is structured and imperative to adhere to in order for a merchant services provider to even consider putting an application forward. With all this in mind, the following are the non negotiable requirements for a merchant to have e commerce for their website:
Doing Business as Name:
The website must very clearly have their Doing Business as name on the Home page. The business name and website should be directly related and in conjunction with the type of business, or products and services being sold.
Customer Service Contact Info:
Visa/Master card expect to see very evidently, the contact information for customers to be able to immediately get a hold of the business’ Customer Service department. This can be in the form of Email or Phone Number.
Return/Refund Policy:
The merchant must have verbiage clearly referenced as Return/Refund Policy. This content should clearly define for the customer exactly what the businesses stipulations and policies are with specific regards to Refunds and Returns of goods and services.
Delivery Method and Timing (fulfillment):
A huge risk for Visa and Master Card is the fulfillment time. This simply refers to the amount of time needed from when the customer initiates a purchase to when they receive it. There must be very specific reference to this time expectancy as part of the website content. Delivery Method has to be posted as well; this info would basically tell the customer which delivery company the business is utilizing.
Privacy Statement:
This portion of the web content must specifically refer to the protection of the customer’s information they are giving out in order to initiate a purchase. The website must have the Privacy Policy posted on the site.
Secure Order/Check Out Page:
The actual page where the merchant enters their card information has to have industry standard security lock. On any check out page on any website will have a “lock box” that ensures the customers protection.
The Merchant Certificate:
Is the content one will see after initiating the Lock Box, on the Secure Check out Page. Once you activate or “click” on the box, the Merchant Certificate will appear, this certificate should confirm the issuer of the certificate, the expiration date and the Certificate must be “trusted” meaning, the root certificate should be marked as trusted.
Age Verification Page (if applicable):
This content or page includes software necessary when dealing with products or services specifically marketed to a certain age group. Under age proprietors would be stopped at this point, again, only applicable to those site selling items specifically intended for “of age” customers.
