Important Informations about Internet Transactions
Polish Travel Quo Vadis Ltd. the. Hotele.eu system operator acts within cooperation regarding the online payments with eCard. eCard provides services according to international standards approved by Visa, MasterCard and American Express. The company is listed on the Warsaw Stock Exchange, has a share capital of 16 840 000.00 PLN and acts as a settlement agent supervised by the President of the Polish National Bank.
Payment acceptance via the internet is made without the physical presence of the parties engaged in the transaction. For this reason, transaction security issues are particularly important. The most important safety aspects are:
Law and supervision
Shop owner at the signing of accepting payment by credit card or direct bank transfer should always check that the company with which the contract is the settlement agent for the purposes of the Act on electronic payment instruments. According to the Act, only the billing agent may contract with a merchant. Provisions of the Act are intended to ensure the safety of both the online stores (merchants) and customers making payments. These objectives are achieved, inter alia, by imposing a series of acquirer requirements, which include:
- Billing agent must be established as a limited company
- The amount of the share capital of the acquirer can not be lower than PLN equivalent of 1 000 000 EUR
In addition, acquirers are subject to supervision by the President of the Polish National Bank.
Transaction clearing entity should be formally linked with international payment organizations. It is a guarantee that the stores operated via Internet will be "visible" to the system of international payment organizations. In addition, the statements of cards for making payments, the name of the shop and not the name of the operator of the payment. Similarly, in the case of direct transfers, transaction clearing entity should act on the basis of official cooperation with banks.
Technological solutions used by the clearing entity transactions must confirm to the standards of international payment organizations. The current standard for payment authorization protocol is in the form of 3D Secure Verified by Visa and MasterCard SecureCode.