PAYSITE CASH Secure Credit Card Payments

Company Information

NordPay Financial LTD

Registration number : 07329550

EU VAT : UK113812938

FSA Financial Licence : 535688

Address : Holland House, 1-4 Bury Street, London, EC3

Legislation of electronic payments

Nordpay Financial Limited is authorised by the Financial Services Authority under the Payment Service Regulations 2009 [ref. 535688] for the provision of payment services.

Cardholders’ Rights

All electronic sales of goods or services must respect the rules of distance sale:
- clear information before buying, including the name of the merchant, the shipping costs and the amount of the VAT, the complete postal address of the merchant in case of goods
- fraud protection in case of credit card payments
- refund if the good or the service is not in accordance with the specifications
- every buyer has the right to be refunded within 7 days according to European Council Directive from 20 May 1997
- a buyer has the right to ask for a transaction refund to his bank according to VISA and MASTERCARD rules, within 6 months after the transaction is made

A charge-back can be made in the following cases:
- the product or the service have not been delivered
- the product or the service is not in accordance with the order
- the merchant has cancelled the order without refunding the buyer
- the credit card has been used in a fraudulent transaction

If the charge-back is justified, the buyer well be credited with the debited amount and the merchant will be debited with the same amount plus the charge-back fees.

VAT Regulations in the European Union

Every company that is not registered in the EU who sales goods or services on Internet to clients from European Union that are not subject to VAT must sale at a price that includes the VAT.

In this manner, to be in accordance with the European law, more precisely with the European Union Directive from May 2006, every company that it is not registered in the European Union who sells to residents from at least one European Union country must register itself to European Authorities in order to invoice the electronic sale with VAT, which must be paid after.

Two options are possible:

1- A company not from EU that sells goods by Internet to European Union citizens must:
- register itself in every country where it will deliver the goods
- invoice the VAT to its customer depending of his country of origin
- take into account the collected VAT
- designate a fiscal representative in every country in order to pay the collected VAT to the states where the VAT was collected.

2- A company not from EU that sells services by Internet to European Union citizens must:
- register itself in one of the member states
- invoice the VAT to its customer at the rate in force in the country where the company is registered
- pay the collected VAT to state that provided the VAT intra-communitary number

If you find yourself in the second option, you can ask a VAT intra-communitary number on the following web site: https://saturn.etat.lu/eVatNETP/

“Know Your Customer” Policy

Nordpay must respect the anti-money laundering legislation and must collect a certain number of elements regarding each merchant.

Furthermore, each merchant must know his customers and must be able to provide at any moment, if an express demand is made, all information regarding a specific customer. This means that each merchant must apply a policy aiming to know and identify his customers.

Nordpay verifies the origin of each sale: a sale can come only from the site declared by the merchant. A sale via a Paysite Cash script configured for a site cannot come from another site.

The tools provided by Paysite Cash are conceived to help the merchant in their daily work, in their global sales. Our main purpose is to minimize the charge-back risks and the fraud attempts. That is why our “Know Your Customer” procedures are very strict.

All information is collected, transferred and conserved according to law principles of data protection and according to private life protection and electronic communication regulations stated by the European directive “private live and electronic communications” from 11 December 2003.

Nordpay does not share, sale, rent or transmit its gathered private information to third parties except in case of express demand from the state.

In order to better know its customers, Nordpay accepts only companies. Similarly, the funds collected by Nordpay for its merchants can be transmitted only on  the company’s (legal entity’s) account with which the contract has been signed.

At the time of the registration, every merchant must return the contract duly completed and signed accompanied with the following pieces:
- a copy of the identity card or of the passport of the company’s legal representative
- a recent utility bill (less than 3 months) like a recent invoice or taxation notice
- a copy of the company’s registration certificate (K-bis in France or other documents according to each country)

Anti-money Laundering Laws

Nordpay will respect the in-force anti-money laundering laws. The company will respect the following rules:
- will know the real identity of each merchant
- will not accept merchants with an activity that does not respect the Nordpay rules and principles or the in force laws
- will not collect any funds for the merchants if the origin of these funds is questionable or illegal
- will not ignore the funds coming from illegal activities
- will inform the relevant authorities in case of suspect activities
- will not provide any help or information aiming to bypass the laws of any country
- will cooperate with the legal authorities.