Valentine’s Day was last week (for those who celebrate) so what better time to remind our merchants how much we love and appreciate you – and to invite you to call us anytime and tell us what’s new in your life and your business! Of course, the business side is where we can help most, and it really is important to keep us updated when things change – whether you moved to a new location, added a director to the team, you name it.
Keeping us up to date gives us the best chance to fight fraud and manage risk on your behalf. We’ve tried to make it easier and more secure to report company changes – in accordance with Know Your Customer (KYC) procedures. You can now download and use the following two documents from our support site to notify us about changes: (click on the document names).
SegPay Change of Data Form
Report new ownership, company name changes, or updates to contact or bank information here.
Note, for ownership changes, we’ll also ask for updated versions of the following documents:
- Articles of Incorporation
- Segpay service agreement: either US or EU.
- Shareholder certificate
- Passport of Officers or UBOs
- Bank statement in the name of the company
- Utility bill in the name of the company or principal
Funds Settlement Form
Use this form to change your payout information – specifically, to have funds sent to someone other than your named corporation.
Please also notify us if you retire one of your websites. Just send an email to email@example.com and we’ll remove the site from our system.
If you have any questions about these documents or anything else related to compliance procedures, contact us anytime. Looking forward to another Valentine’s day together!
We wanted to share some good news: SegPay successfully completed the annual PCI audit during autumn 2016. The PCI audit is the industry standard for ensuring the security of payment data.
SegPay goes through this extensive audit every year to ensure our systems and procedures meet the latest requirements of the PCI DSS (Payment Card Industry Data Security Standard). This last audit certifies that SegPay meets the latest (version 3.2) standards for protecting your payment and account data.
You can view our certification on Visa’s website. To learn more about PCI requirements, visit the PCI Security Standards Council website, or give us a call anytime.
To continue the fight against fraud, prevent chargebacks and improve consumer protection, Visa has updated its rules regarding business location and how it is disclosed to consumers. Bottom line: the physical location where you do business must be in the same region of the world as your acquiring bank, and that location should be clearly identified on your website(s). The updates, which went into effect February 1st, include the following requirements:
- Your business has physical offices in your country of incorporation.
- You have a business license in that country.
- A majority of your directors are located in that country.
- You pay taxes in that country.
- Your company’s terms and conditions are governed by the law of that country.
- Your physical address, as well as an email and phone number where consumers can reach you, is displayed on your website.
Non-compliance with Visa’s rules can result in steep fines. The good news: SegPay will work with you to make sure you are meeting these requirements. Please review your sites according to the updates listed above, and don’t hesitate to contact us if you have any questions.