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:
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;
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”;
A statement of the Cardholder's responsibility to know the laws concerning online gambling in his or her country of domicile;
A statement prohibiting the participation of minors;
A complete description of all of the following: Rules of play; Cancellation policies; Pay-out policies;
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.