Merchant policies that clearly disclose specific company facts and cardholder rights are often required by card brands across all platforms (websites, apps, invoices, or contracts). Where you do business, the kind of cards you accept, and the nature of your enterprise can all affect the specifics of your insurance coverage.
Singapore Company Formation Team requirements
Periodically, Singapore Company Formation Team inspects the online stores we work with to make sure they are adhering to the necessary standards. If the following details are not made apparent to your customers, our risk team may raise red flags.
- Contact information
- Pricing information
- Refund or cancellation policies
- Privacy policy
- Delivery time frames (if you are shipping physical goods)
- Terms and conditions of service
Contact information
Any of these options would suffice as a means of contact.
- A listed email address
- A listed phone number
- A physical mailing address
- Social media accounts
Pricing information
Before a customer makes a purchase from your site, they should be able to easily see and understand the prices listed.
Specialized Costing
If your prices are only available after a consumer has signed a bespoke contract or received an invoice, you'll want to make sure they can readily find your contact information, privacy policy, and refund/cancellation policy inside those documents before agreeing to any purchases.
Exclusive member price
You should make it obvious that pricing and policies are only accessible to logged-in users of your site. We also suggest that your privacy policy, refund policy, and other contact information be easily accessible to both members and non-members.
Pricing for donations
Non-profits may use a contribution website that includes both standard and individualized giving options and predetermined gift levels.
In-App Purchases
If you just accept mobile app or mobile website payments, you must adhere to all standards for e-commerce websites or give links to the entire site where these standards can be found.
Refund and cancellation policies
Your website must clearly state your return policy, including if there are no refunds available. Included at a minimum in your cancellation/refund policy should include the following:
- whether or not you provide refunds
- what conditions must be met to be eligible for a refund
- whether there are any fees associated with refunds or cancellations.
Privacy policy
Even if your privacy policy is brief, it should cover the following:
- What information you collect from your customers
- What you do with that information
Terms and conditions of service
Typical topics covered in such an arrangement include the following:
- Disambiguation/definition of key terms and phrases
- User rights and responsibilities
- Proper or expected usage; potential misuse
- Accountability for online actions, behavior and conduct
- The use of personal data
- Payment details such as membership or subscription fees
- Opt-out policy describing the procedure for account termination (if available)
- Disclaimer/limitation of liability clarifying the site's legal liability for damages incurred by users
- Whether users will be notified upon modification of terms