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Running an online business and selling products or services online comes with some inevitable paperwork. The compliance process may take a few weeks, but when you prepare for it wisely, you can shorten it and avoid unnecessary mistakes.
Online business owners need to ensure that their websites comply with banks’ or payment processors’ regulations. It’s better to make all the changes needed before the entire process start to make it go quickly and smoothly.
In this article, we will discuss a few must-haves you should include on your page.
The terms and conditions agreement is not only for customers but also highly important for protecting your business by making sure customers know their rights and responsibilities.
Here is what you should include in your terms and conditions.
In the case of shipping physical goods, include a clear statement of the delivery time frame.
It’s better to include this information in your terms and conditions agreement to make it easy to resolve situations where a customer is not satisfied and asks for compensation.
Remember that your terms and conditions should follow consumer laws and cover things like the right to receive a refund. Of course, consumer laws apply even when you don’t put them in the terms and conditions on your website, but you can, for instance, limit your liability.
Putting contact information on your site is mandatory, so you need to include full contact details, such as:
You can also include the information about available for after-sales services or VAT details.
The content on your website needs to be updated and consistent. You have to especially be sure that each product or service you sell comes with a clear and understandable description that is not misleading.
If you want to sell online, you need to put a payment gateway in place. When your page is undergoing the compliance process, the bank rep will check how the payment flows from the customer perspective.
What if you’re just at the start and don’t have a payment solution on your page yet? You can add payments in test mode to make it possible to check the process.
Note that the checkout page should always be encrypted via an HTTPS connection. The payment page should include clear information about pricing with all taxes or extra fees included, as well as all payment details.
You should also display logos of card brands to keep users informed about what payment methods are accepted on your website.
To sum up, before you start the compliance process, make sure your website includes:
In general, your website needs to be in up and running condition. You can also think about including a FAQ page that summarizes all the information needed, but it’s not required.
The whole process could be time-consuming, but when you take the proper steps, it will definitely be less painful.