Quote:
Originally posted by Resolute
Where is this stipulated ?
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Hi Resolute,
This is not really stipulated anywhere or shall I say anywhere you could refer to. You see, the US processors have interpreted this cross-border regulation most likely from their talks with their merchant bank(s) (i.e., Visa doesn't typically speak directly to merchants) and these merchant banks who have talked with Visa (read: came to a compromise.) Rule #1: don't put anything in writing that way it can always be a question of misinterpretation.
As for Verotel and any others that are legitimately processing in the EU, our merchant banks have not given us a "vice-versa" regulation and therefore it is only stipulated by ommission.