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

Based on the provided context documents, you can collect credit card information from participants in Nevada, but you must comply with certain requirements.

Requirements for Collecting Credit Card Information in Nevada

According to NVRS 97A.140 [1.2], an issuer located in Nevada must provide written notice to the cardholder and receive a written or oral request from the cardholder before issuing a credit card. The issuer must also provide the cardholder with the terms and conditions that govern the use of the credit card in writing before or at the time of the receipt of the credit card. The rate of interest charged, and any other fees or charges imposed for the use of the credit card, must be in an amount agreed upon by the issuer and cardholder. An issuer may unilaterally change any term or condition for the use of a credit card without prior written notice to the cardholder unless the change will adversely affect or increase the costs to the cardholder for the use of the credit card. If the change will increase such costs, the issuer shall provide to the cardholder an identifiable notice of the change at least 30 days before the change becomes effective and an opportunity to avoid the change, including, without limitation, by voluntarily closing the credit card account after providing notice to the issuer.

Compliance with Federal and State Laws and Regulations

To collect credit card information, you must comply with federal and state laws and regulations, such as the Fair Credit Reporting Act (FCRA) and the Payment Card Industry Data Security Standard (PCI DSS). The FCRA regulates the collection, dissemination, and use of consumer credit information, while the PCI DSS sets security standards for organizations that handle credit card information. It is recommended that you consult with a legal professional to ensure compliance with all applicable laws and regulations.

Additional Requirements for Licensing

If you are a collection agency, you must obtain a manager’s certificate in Nevada [4.1]. To obtain a manager’s certificate, you must meet certain qualifications and requirements, including having a good reputation for honesty, trustworthiness, and integrity, and not having been convicted of any crime involving fraud, misrepresentation, or moral turpitude. Additionally, each applicant for the issuance of a license pursuant to this chapter and each owner, officer, director, and responsible person of the applicant, each person in control of the applicant and any other person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements shall submit to the Registry a complete set of fingerprints for submission to the Federal Bureau of Investigation and any other governmental agency or entity authorized to receive such information for a state, national, and international background check on the criminal history of the person [3.1][5.1].

In summary, you can collect credit card information from participants in Nevada, but you must comply with certain requirements, including providing written notice to the cardholder, obtaining a manager’s certificate if you are a collection agency, and complying with federal and state laws and regulations. It is recommended that you consult with a legal professional to ensure compliance with all applicable laws and regulations.

Source(s):
Jurisdiction

Nevada