Article During the time being in the payment service provider business I came through a lot of cases where Merchants pretended to sell legal Pharmacy products, also called non controlled drugs. In the early beginning of 2003
payment service provider business I came through a lot of cases where Merchants pretended to sell legal Pharmacy products, also called non controlled drugs. In the early beginning of 2003 the card association's regulations changed due to many Online Merchants in the Pharmacy business sold controlled drugs behind their main websites, which defiantly isn't allowed. processing credit card payments for websites selling controlled drugs and to back up their bag if something goes wrong. Mastercard credit card acceptance , and some Acquiring Banks around the World seemed not to follow the global regulations by the card associations because there was good money to earn while processing for Online Pharmacies selling non controlled and controlled drugs. However a few years later it wasn't possible any longer since the Card Association including Visa and Mastercard started to issue huge penalties to those Merchant's and Merchant Service providers which breached the regulations, fines in the range of USD 25.000 to USD 150.000 per incident. Merchant Account with Visa credit card acceptance, some Merchant Account- and Payment Service Providers do still pretend to be able to open Merchant Accounts for Online Pharmacy's which include Mastercard credit card acceptance, those are fake, or they hide those transactions and code them as something else than what it is, Online Pharmacy. Sometimes it is strange, since on one side the Card Association has to deal with their preferred Payment Service Providers to tell them what is allowed and which isn't, and on the other hand the payment service provider's have to tell the merchants what they can sell and not, this looks as a good way to regulate the entire business. Cyprus Company Formation & Merchant Service Forum read the entire article by visiting the forum.
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