Nutra, pharmaceuticals, MCC 5122, 5912 (is possible also 5499)

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
  • One time sales
  • Trial or subscription service is considered as the high risk due to large amount of chargebacks
  • Each pharmaceutical merchant would be registered in MasterCard with MCC: 5122 or 5912 in MRP (MasterCard Registration Program) - $500 annual fee. Fee must be paid by merchant or IPSP
  • In some cases, when using non-prescription drugs following MCC might be used: 5499 as a food supplement (not require registration MRP)
  • Presence of a complete description of components (on the web page as well as in the official letter from the manufacturer)
  • Presence of the merchants contract with supplier
  • Presence of the manufacturers certificate/ license
  • Presence of confirmation that this proposed product is a nutritional supplement and does not require licensing / registration, of the supervisory authority of the country in which the vendor is registered and in which there are sold
  • An ability to provide documents from the shipping company / courier service confirming the shipment / delivery of goods 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. Contacts section must contain following information: company contact information (phone number, email and etc.), company legal name with registration number and all other details;
    6. Placed VISA and MasterCard logotypes on main page;
    7. Payment methods description with available currency / currencies;
    8. Confidentiality agreement;
    9. Copyright;
    10. 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.