Describe the requirement of online payment system.

Subject E-Commerce
NU Year Set: 4.(a) Marks: 5 Year: 2017

Before accepting payments by debit and credit cards, each online shop must meet the following requirements and clearly specify the following information on the website:
  • The Merchant’s name and titles of trademarks used
  • Types of accepted payment cards
  • Detailed description of the Merchant’s goods /services
  • Terms of purchase and sales/service provision
  • Terms and conditions for terminating the agreement
  • Prices of goods/services and other fees charged by the Merchant (separate from the price), also currencies and the exact date of payment
  • Goods/services delivery terms and conditions
  • Goods/services refund terms and conditions
  • Money-back terms and conditions
  • Personal data processing rules and privacy policy
  • Description of security and data transmission means used by the Merchant
  • Contacts of the Merchant’s customer service staff – e-mail and customer service phone number
  • The Merchant’s permanent residence address
  • Other information specified by Click2Sell and payment card organizations
  • The use of 3-D Secure Standard by the Merchant must be marked with "Verified by VISA" and "MasterCard SecureCode" signs
  • Your website must comply with PCI DSS (Payment Card Industry Data Security Standard) to protect your customers and transaction details. If you face any problems related to PCI DSS, we are ready to help you find the best solution.

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