Gambling, MCC 7995

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
  • Copy of Gambling License. From the provided documentation, it should follow that the applying company is officially owned by the company holding the gambling license. Approved Online Gambling Licenses: EU such a Malta, UK, Gibraltar, Isle of Man or any other jurisdiction
  • Copy of Gambling License from Lotteries and Gambling Supervision Inspection of Latvia to operate in Latvian market and with Latvian companies
  • Copy of Fraud Management Procedures (KYC, AML & PAYOUTS)
  • Confirmation, on the Merchant’s Stationary, signed by the Director/Secretary, stating that the website is wholly owned and operated by the merchant (plus a “domain registration” document stating the official owner of the website; can be found online
  • An ability to provide recommendation / reference / account statements from the previous bank-acquirer on the Bank’s demand
  • 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. The statement “Internet Gambling may be illegal in the jurisdiction in which you are located; if so, you are not authorized to use your payment card to complete this transaction”;
    6. A statement of the Cardholder's responsibility to know the laws concerning online gambling in his or her country of domicile;
    7. A statement prohibiting the participation of minors;
    8. A complete description of all of the following: Rules of play; Cancellation policies; Pay-out policies;
    9. Contacts section must contain following information: company contact information (phone number, email and etc.), company legal name with registration number and all other details;
    10. Placed VISA and MasterCard logotypes on main page;
    11. Payment methods description with available currency / currencies;
    12. Confidentiality agreement;
    13. Copyright;
    14. 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.