Cryptocurrencies, MCC 6012
The following information must be provided by merchant to Financial Institution during onboarding process:
- Company must be incorporated in European Union or the United Kingdom
- The merchant will need to have a license in place of registration
- Merchant must provide AML and KYC policies
- Merchant must provide clear company structure
- Merchant must provide liquidity agreement
- Merchant must provide utility bill for business owners
- URL with company contact information and registration data
- One language of European Union on a website (not to violate cross-boarding license)*
- Merchant must provide following corporate documents:
- Certificate of incorporation;
- Article of association;
- Memorandum of association;
- Shareholder register;
- Extract from register about directors and company dated no older than 15 days;
- Copies of passports (person who has sign rights and beneficiary owner);
- Banking details;
- Completed merchant questionnaire.
- Website minimum requirements:
- Working website (not under development);
- Terms of use on the website;
- Cancellation and refunds policy (obligatory by VISA and MC rules);
- SSL-certificate;
- Add the policy that prohibit the registration of the US citizens and its territories and put it in the terms of use in the footer of the page;
- Contacts section must contain following information: company contact information (phone number, email and etc.), company legal name with registration number and all other details;
- Placed VISA and MasterCard logotypes on main page;
- Payment methods description with available currency / currencies;
- Confidentiality agreement;
- Copyright;
- Obligatory presence of “Tick box” at the moment of payment for goods or services by the user, that he has read and agree with the terms & conditions and return policy.
* Not all acquiring banks are asking this.