Quote:
Originally Posted by faxxaff
One can always accept purchases without asking for a customers address ....
|
It is done on IP, and on the country that the customers credit/debit card was issued. Either way they have a location for your customer.
My own acquiring bank (EU) is in the middle of a last minute panic to ensure they have all of their paperwork in place for all of their clients. Under pressure from their central bank they are going through each contract to ensure that the UBO is in no doubt and they can identify the money trail.
Be under no illusions, if you use an EU acquiring bank, and that is most companies in adult, you will not escape this law. You might avoid it for a short period, but your merchant account can be frozen and your funds held. The only way to escape is to have nothing in Europe, and accept the difficulties of non EU merchant accounts. This is ok unless you are actually an EU citizen, as then they will still get you when you actually need to repatriate some of the profits from your efforts.
I see a big future for companies that can set up non EU facilities, as I predict a movement away from all of the Cypriot, Irish, and UK based billing entities.
