What’s required to get an acquiring agreement? To obtain an online payment solution, you need two things: a payment gateway and an acquiring agreement – both of which you get with pensopay.
The acquiring agreement is made through an acquirer bank, which Pensopay manages and arranges, so you don’t have to find one yourself. Simply submit an application here at Pensopay: https://dashboard.pensopay.com/register – and we’ll take care of the rest. To set up an acquiring agreement, we need to ensure that your webshop complies with regulations from, among others, the Danish Consumer Authority, Visa & Mastercard, and EU consumer law. These requirements are listed below:
1. Contact Information
At a minimum, there should be a phone number and email contact either at the bottom or top of your page. Alternatively, a "Contact" page with this information is also acceptable.
2. Legal Company Information – Verified with the CVR Register
The company name and type, business address, and CVR number must be clearly visible on your website. We recommend placing this information in the footer, so it’s always easy for customers to find. Alternatively, it can also be included on a "Contact" or "About Us" page.
3. Actual Product Price and Pricing Information
The actual price of the product or service, including all taxes, fees, and other costs, must be clearly stated on the webshop. If the total price cannot be determined in advance, you must explain how it will be calculated.
B2B: For business-to-business transactions, prices can be listed excluding VAT.
4. Terms and Conditions
The terms and conditions should include details about the delivery method, a 14-day right of withdrawal, a 2-year warranty in accordance with applicable consumer law, and a note stating that payment will only be charged when the item(s) are shipped. We recommend creating customized terms and conditions for your business here.
Yderligere information:
A) 14-Day Right of Withdrawal
When a customer utilizes their right of withdrawal, the webshop must refund the full amount paid by the customer, including the business's shipping costs, if applicable. However, the webshop is allowed to require the customer to cover their own return shipping costs.
B) 24-Month Warranty
Under consumer law, customers are entitled to a two-year warranty, and it is not possible to agree on a shorter period or exclude certain parts of the product from coverage. However, the warranty may expire before the end of the two-year period if the product is not designed to last that long or if it naturally wears out through regular use before the deadline.
5. Privacy Policy
It should be clearly stated that the webshop respects the importance of privacy on the internet and will not disclose customer information to third parties unless it is necessary to complete a transaction. Furthermore, it should be stated that the webshop will not sell the customer's name, address, email, credit card details, or personal data to any third party without the customer's prior consent. Please note that if you have created your terms and conditions using our generator, a privacy policy is included. Alternatively, you can create a privacy policy for your business here.
6. Transparency
A direct link to the "Terms and Conditions" should be provided on the homepage
7. Checkout
At checkout, just before proceeding to payment, customers should be able to check a box that says "I have read and agree to the terms and conditions." The terms and conditions should be clickable, allowing customers to read them..
Do you use Shopify? Check out this helpful guide.
8. Visible Visa and Mastercard Logos
These are displayed on the homepage and at the checkout window. They can be accessed here.
9. Webshop’s Domain Name
Note that the company operating the business from a given domain must be listed as the registrant of the domain. This can easily be done via DK-Hostmaster.dk if the domain is a (.dk).
A) For a (.eu, .com, .nu, etc.) domain, please provide domain documentation that shows the company is the registrant of the domain. This could be an invoice for the purchase (with the company name and domain clearly visible) or a screenshot of your profile on the hosting provider's site (showing both the company name and domain).
B) Sole proprietorships are exempt from this requirement, provided that the business owner's name is listed as the registrant.
If you need to change the registrant, read more here.
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