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VISA cross border acquiring regulations apply to any merchant processing through any type of arrangement. (IPSP, PSP, own MID, etc...). It basically states that the merchant's corporate entity must be located in the same VISA region as the acquiring bank. In some cases processors can bend these rules a bit by locating a corporation in a region and then having merchants in other regions process through that corp. If they have the premission of the acquiring bank than this is ok. If not, then they can get into trouble.
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