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Can I accept payments online without violating payment processing laws in Hawaii? What are the requirements?

Requirements for Accepting Payments Online in Hawaii

To accept payments online in Hawaii, you must comply with the state’s payment processing laws. The requirements for accepting payments online in Hawaii are not explicitly stated in the provided documents. However, the following documents provide relevant information that may be useful:

  • HIRS 490:4A-210: This document outlines the rejection of payment orders and the obligation of banks to pay interest to the sender if a payment order is not executed despite the existence of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order.
  • HIRS 490:4A-202: This document outlines the requirements for authorized and verified payment orders, including the use of security procedures and the commercial reasonableness of such procedures.
  • HIRS 388-5.7: This document outlines the requirements for paying wages by pay cards, including the need for employee consent, the provision of certain information to employees, and the availability of certain services at no cost to the employee.

Based on the provided documents, it is recommended that you ensure that your payment processing system complies with the following requirements:

  • Obtain consent from customers before processing payments.
  • Provide customers with clear and concise information about fees and other charges associated with payment processing.
  • Use commercially reasonable security procedures to verify payment orders.
  • Provide certain services at no cost to the customer, such as the ability to access account information online and via telephone without charging a fee.

It is important to note that these requirements may not be exhaustive and that you should consult with a legal professional to ensure that your payment processing system complies with all applicable laws and regulations.

Additional Information

The following documents provide additional information that may be relevant to accepting payments online in Hawaii:

  • HIRS 412:13-223: This document outlines the examination and payment of fees for Hawaii state branches, Hawaii state agencies, or Hawaii representative offices.
  • HIRS 490:4A-203: This document outlines the unenforceability of certain verified payment orders.
  • HIRS 490:4A-205: This document outlines erroneous payment orders.
  • HIRS 490:4A-204: This document outlines the refund of payment and duty of customer to report with respect to unauthorized payment order.
  • HIRS 388-5.5: This document outlines the payment of wages by check or electronic transfer.
  • HIRS 412:13-201: This document outlines the necessity of licensure for branches and agencies of foreign banks.

It is recommended that you review these documents to ensure that your payment processing system complies with all applicable laws and regulations.

Note that this information is not exhaustive and that you should consult with a legal professional to ensure that your payment processing system complies with all applicable laws and regulations.

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Source(s):
Jurisdiction

Hawaii