International payment policy
Accepted Payment Methods : We would request you to confirm to activate International payments along with 3Ds feature, where every transaction will go through an OTP verification process to successfully transact international payments, such as credit cards, bank transfers, PayPal, and other electronic payment methods. Clearly outline any limitations or restrictions on certain payment methods.
Currency Accepted : Indicate the currencies accepted for international payments, including any conversion rates applied for transactions conducted in currencies other than the default currency of the business.
Payment Terms : Define the terms of payment, including due dates, payment schedules, and any applicable late payment fees or penalties for overdue invoices. Clarify whether payments must be made in full upfront or if installment options are available.
Transaction Fees : Disclose any transaction fees or surcharges associated with international payments, such as foreign exchange fees, cross-border transaction fees, or processing fees charged by payment gateways or financial institutions.
Security Measures : Explain the security measures in place to protect sensitive payment information and prevent fraud in international transactions. This may include encryption protocols, PCI compliance, and fraud detection systems.
Refund and Cancellation Policies : Outline the procedures for refunds, returns, and cancellations of international orders, including any conditions or restrictions that apply. Specify whether refunds are issued in the original payment method or an alternative currency.
Currency Conversion : Provide transparency regarding currency conversion rates used for international transactions, including any markups or fees applied by the business or payment processors. Inform customers about their options for currency conversion and potential cost implications.
Compliance with Regulations : Ensure compliance with relevant laws and regulations governing international payments, including anti-money laundering (AML) regulations, Know Your Customer (KYC) requirements, and sanctions imposed by government authorities.
Dispute Resolution : Establish procedures for resolving disputes related to international payments, including escalationn processes, mediation, and arbitration mechanisms. Provide contact information for customer support or dispute resolution services.
Terms and Conditions : Include a section outlining the terms and conditions governing international payments, including liability disclaimers, indemnification clauses, and jurisdictional provisions.