Merchant Relationships – Compliance Efforts And Contractual IssuesRachel Hamilton
This document discusses several key issues related to merchant relationships and compliance with regulations regarding prepaid cards. It addresses contractual responsibilities between merchants and issuers, such as who is responsible for equipment, replenishment, and customer service. It also covers anti-money laundering training, monitoring for compliance, and other regulatory requirements. The document provides guidance on taking inventory of card programs, marketing practices, and meeting exceptions to rules regarding gift and reward cards.
Merchant Relationships – Compliance Efforts And Contractual IssuesRachel Hamilton
This document discusses several key issues related to merchant relationships and compliance with regulations regarding prepaid cards. It addresses contractual responsibilities between merchants and issuers, such as who is responsible for equipment, replenishment, and customer service. It also covers anti-money laundering training, monitoring for compliance, and other regulatory requirements. The document provides guidance on taking inventory of card programs, marketing practices, and meeting exceptions to rules regarding gift and reward cards.