Payment compliance, explained
Card payments are governed by industry standards and regulations designed to protect consumers and the financial system. Here's what applies and how we help.
PCI DSS
The Payment Card Industry Data Security Standard applies to every organization that stores, processes or transmits cardholder data. PayJunction is built to handle card data in line with PCI DSS requirements, and our hosted products are designed to minimize the scope that falls on you. Merchants complete the self-assessment questionnaire appropriate to their integration.
Know Your Customer (KYC)
To open a merchant account, we're required to verify the identity of the business and its owners. During onboarding you'll provide business registration details, a tax ID, beneficial owner information and bank account details. This protects legitimate businesses and keeps bad actors off the network.
Anti-Money Laundering (AML)
Payment providers monitor transactions for patterns associated with money laundering and fraud, and may request additional information or hold funds when activity is unusual. Clear business descriptions and consistent processing help onboarding and monitoring go smoothly.
Card network rules
- Accurate merchant category and business description
- Clear refund and cancellation policies shown to customers
- Recognizable billing descriptors
- Chargeback ratios kept below network thresholds
- Clear disclosure of recurring billing terms
Prohibited and restricted businesses
Some business types cannot be supported under our banking partner and card network rules, and others need additional review. If you're unsure whether your business qualifies, contact us before applying.
Frequently asked questions
What documents do I need to apply?
Typically business registration details, a US tax ID, owner identification information and a business bank account. Requirements can vary.
Why might my funds be held?
Funds may be held for review when activity is unusual, a dispute is opened, or additional verification is required. We'll explain what's needed.
Do I need to complete a PCI questionnaire?
Yes, merchants typically complete an annual PCI self-assessment questionnaire. Using hosted products usually means the shortest version.
Related
Ready to accept payments with PayJunction?
Tell us about your business and we'll prepare a quote and a setup plan.
Contact sales