Pan European solution

Our Pan European solution offers merchants the ability to transact and settle in multiple currencies including US Dollars, Canadian Dollars, British Pounds, Euros, Swedish Kronas, Norwegian Kronas, Swiss Francs, Hong Kong Dollars, Yen, Australian Dollars and South African Rands to a direct merchant account with First Atlantic Commerce’s (FAC) partner bank.

Our Pan European solution allows merchants to take advantage of FAC’s Payer Authentication solution for Verified by Visa and MasterCard® SecureCode™.  Based on the Card Associations’ 3-D Secure ™ technology, FAC’s cGate®SecureVerify provides merchants with protection from fraudulent transactions, unauthorized payments and chargeback liability shift.

Merchants wanting to leverage this solution will be required to incorporate in a European Union jurisdiction to meet Card Association Regulations stipulating that the company is incorporated in the jurisdiction in which it settles.

Merchant types:

FAC’s Pan European solution best fits large online retail companies, digital content businesses, airlines, hotel and travel-related services, property reservation sites, stored value and pre-paid card merchants, alternative payment card types, dating sites and herbal and vitamin suppliers.

Merchants must meet certain minimum criteria for the European solution as follows:

• Merchants must have existing sales volumes of minimum USD $500,000 per year and provide estimated future sales volumes;
• No start-ups (merchants must have at least 6 months of online credit card processing history) or be able to provide financial information such as balance sheets to support current brick and mortar business;
• Merchants must have a low percentage of credits to sales and chargebacks of less than 1% to total sales volume;
• Merchants that do not have a custom built shopping cart must integrate to FAC’s payment gateway.

Merchant websites must be available for review and show:

• Credit card flag symbols in color to indicate card acceptance;
• Privacy, security and refunds policy;
• Complete description of the products or services offered;
• Pricing of product(s);
• Transaction currency;
• Contact information (e-mail, phone number, fax);
• Delivery policy;
• Security capabilities and policy for transmission of payment card details;
• Export restrictions (if applicable);
• Address of the merchant’s corporate office in Europe or the Netherlands Antilles.

European banking partners

In order to apply for a merchant account with FAC’s European solution banking partners, prospective merchants will be required to provide the following documentation that MUST BE Certified and stamped by a representative of a high street bank or law firm. Note: The banks must be able to contact the person who certifies the documents directly:

• Articles of Incorporation from the current Parent Company;
• Articles of Incorporation for the newly Incorporated Company;
• List of authorized signatures;
• Board resolution giving power of signature to the signatories;
• Notarized copies of passports of the signatories and shareholders with greater than 5% ownership;
• Completed merchant application form;
• Financial information such as balance sheets, audited or unaudited financial statements;
• 6 months of credit card processing statements detailing sales, refunds, credits, voids and chargebacks.

The Jurisdictions

Merchants looking to set up direct accounts with FAC’s European Banking Partners have a choice of jurisdictions in which to incorporate including any EU country and the Netherland Antilles.

Should merchants choose to set up their company outside of the European Union, they can incorporate in the Netherlands Antilles to satisfy the Card Association regulations.