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Can I collect credit card information from participants in Arkansas? What are the requirements?

Based on the documents provided, there are specific requirements for collecting credit card information from participants in Arkansas.

Required Disclosures and Prohibitions [1.1]

Any person or entity that offers a credit card processing service in Arkansas shall disclose the following information on any contract or agreement to render a credit card processing service:

  • The effective date of the contract
  • The term of the contract
  • The amount of any monthly minimum fee or charge for the credit card processing service
  • The amount of any fee or charge for terminating the contract or agreement.

Additionally, a person or entity that offers a credit card processing service in Arkansas shall not charge:

  • A fee of more than fifty dollars ($50.00) for terminating a contract for credit card processing service
  • A monthly minimum fee under a credit card processing service contract for more than one (1) month after the credit card processing service contract is terminated.

Printing Card Number on Receipts [2.2]

No person, firm, partnership, association, corporation, limited liability company, or other entity accepting credit cards for the transaction of business shall print more than the last five (5) digits of the credit card account number, the credit card expiration date, or both, on a credit card receipt to the cardholder.

Applicability [2.3]

The provisions of Arkansas Code Annotated § 4-107-303 and § 4-115-101 apply to all qualifying credit card account transactions where a creditor has chosen to issue a credit card to a citizen of the State of Arkansas or has chosen to continue to offer a credit card account to a citizen in Arkansas and shall thereby be governed by the provisions of this subchapter.

Based on the above documents, it is clear that there are specific requirements for collecting credit card information from participants in Arkansas. Any person or entity that offers a credit card processing service in Arkansas must disclose certain information on any contract or agreement to render a credit card processing service, and must not charge certain fees. Additionally, no person or entity accepting credit cards for the transaction of business shall print more than the last five digits of the credit card account number, the credit card expiration date, or both, on a credit card receipt to the cardholder. These provisions apply to all qualifying credit card account transactions where a creditor has chosen to issue a credit card to a citizen of the State of Arkansas or has chosen to continue to offer a credit card account to a citizen in Arkansas.

Therefore, if you plan to collect credit card information from participants in Arkansas, you must comply with the above requirements.

Source(s):
Jurisdiction

Arkansas