Marketplace Payment Processing Guidelines

This guide outlines the marketplace payment processing guidelines established by Finaro, a credit institution regulated by the Malta Financial Services Authority. It details the onboarding process for marketplaces, which includes completing a Marketplace Questionnaire and undergoing a risk assessment to validate monitoring controls. The document specifies the responsibilities of marketplaces in managing transactions, including sales, refunds, and settlement payments to retailers. It emphasizes compliance with Visa and Mastercard guidelines, including the mandatory collection of seller information for transaction processing. Additionally, the guide provides requirements for marketplace websites to ensure clarity in transactions and reduce chargebacks. It also discusses fees associated with foreign retailers and penalties for non-compliance with marketplace requirements. Overall, the guidelines aim to facilitate a smooth payment experience for both retailers and shoppers while ensuring adherence to regulatory standards.