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:
    1. Certificate of incorporation;
    2. Article of association;
    3. Memorandum of association;
    4. Shareholder register;
    5. Extract from register about directors and company dated no older than 15 days;
    6. Copies of passports (person who has sign rights and beneficiary owner);
    7. Banking details;
    8. Completed merchant questionnaire.
  • Website minimum requirements:
    1. Working website (not under development);
    2. Terms of use on the website;
    3. Cancellation and refunds policy (obligatory by VISA and MC rules);
    4. SSL-certificate;
    5. 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;
    6. Contacts section must contain following information: company contact information (phone number, email and etc.), company legal name with registration number and all other details;
    7. Placed VISA and MasterCard logotypes on main page;
    8. Payment methods description with available currency / currencies;
    9. Confidentiality agreement;
    10. Copyright;
    11. 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.