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

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Collecting Credit Card Information in Virginia

If you are planning to collect credit card information from participants in Virginia, you must comply with the Virginia laws and regulations related to credit cards.

According to [VACV 6.2-432], any application form or preapproved written solicitation for an open-end credit card account to be used for personal, family, or household purposes that is mailed to a consumer residing in the Commonwealth by or on behalf of a creditor, whether or not the creditor is located in the Commonwealth, shall contain or be accompanied by a disclosure that satisfies the initial disclosure requirements of Consumer Financial Protection Bureau Regulation Z (12 C.F.R. Part 1026).

Additionally, [VACV 18.2-192] states that it is illegal to take, obtain, or withhold a credit card or credit card number from the person, possession, custody, or control of another without the cardholder’s consent or to receive the credit card or credit card number with intent to use it or sell it, or to transfer it to a person other than the issuer or the cardholder. Violation of this law is considered grand larceny and is punishable as provided in § 18.2-95.

Furthermore, [VACV 18.2-193] states that it is illegal to falsely make or falsely emboss a purported credit card or utter such a credit card with intent to defraud a purported issuer, a person or organization providing money, goods, services, or anything else of value, or any other person. Conviction of credit card forgery is punishable as a Class 5 felony.

Moreover, [VACV 18.2-195] states that a person is guilty of credit card fraud when, with intent to defraud any person, he uses for the purpose of obtaining money, goods, services or anything else of value a credit card or credit card number obtained or retained in violation of § 18.2-192 or a credit card or credit card number which he knows is expired or revoked. Conviction of credit card fraud is punishable as a Class 1 misdemeanor if the value of all money, goods, services and other things of value furnished in violation of this section, or if the difference between the value of all money, goods, services and anything else of value actually furnished and the value represented to the issuer to have been furnished in violation of this section, is less than $1,000 in any six-month period; conviction of credit card fraud is punishable as a Class 6 felony if such value is $1,000 or more in any six-month period.

Therefore, to collect credit card information from participants in Virginia, you must comply with the laws and regulations related to credit cards and credit services businesses.

There is an opportunity to potentially refine your existing response using the additional context below:

Credit Card Factoring

According to [VACV 18.2-195.1], any authorized person who presents to the issuer or acquirer for payment a credit card or credit card number transaction record of a sale which was not made by such person or his agent or employee, without the express authorization of the acquirer and with intent to defraud the issuer, acquirer or cardholder, is guilty of a Class 5 felony. If such act is done without authorization of the acquirer but without intent to defraud, he shall be guilty of a Class 1 misdemeanor. Any person who, without the express authorization of the acquirer and with intent to defraud the issuer, acquirer or cardholder, employs or otherwise causes an authorized person to remit to an acquirer or issuer a credit card transaction record of sale that was not made by the authorized person is guilty of a Class 5 felony. If such act is done without the authorization of the acquirer but without intent to defraud, he shall be guilty of a Class 1 misdemeanor.

Sale of Purchaser Information

According to [VACV 59.1-442], no merchant, without giving notice to the purchaser, shall sell to any third person information that concerns the purchaser and that is gathered in connection with the sale, rental, or exchange of tangible personal property to the purchaser at the merchant’s place of business. Notice required by this section may be by the posting of a sign or any other reasonable method. If requested by a purchaser not to sell such information, the merchant shall not do so. No merchant shall sell any information gathered solely as the result of any customer payment by personal check, credit card, or where the merchant records the number of the customer’s driver’s license or other document issued under Chapter 3 (§ 46.2-300 et seq.) of Title 46.2 or the comparable law of another jurisdiction. This subsection shall not be construed as authorizing a merchant to sell to a third person any information concerning a purchaser if the sale or dissemination of the information is prohibited pursuant to § 59.1-443.3.

Therefore, to collect credit card information from participants in Virginia, you must comply with the laws and regulations related to credit cards, credit services businesses, credit card factoring, and sale of purchaser information.

I hope this helps!

Jurisdiction

Virginia

• Privacy