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

Based on the additional context documents provided, it is unclear whether you can collect debit card information from participants in Nevada without a license. However, there are requirements for obtaining a license as an exchange facilitator in Nevada.

License Requirements for Exchange Facilitators in Nevada

According to NVRS 645G.100, a person shall not act as an exchange facilitator unless he or she is licensed as such with the Division. To apply for a license as an exchange facilitator, a person must pay the Division the fee prescribed by NRS 645G.220. In addition to the requirements set forth in subsection 2, the person must submit to the Division the following information on a form provided by the Division:

• The applicant’s name, business address and telephone number;
• The name under which the applicant will hold the money or other property of a client;
• The names, residence and business addresses of all shareholders or members who hold 10 percent or more of the voting stock of the applicant’s business and all persons having an interest in the business as principals, partners, officers, trustees or directors, specifying the capacity and title of each;
• The length of time the applicant has been engaged in the business of acting as an exchange facilitator;
• A summary description of the business of the applicant;
• A list of any similar licenses obtained and maintained in other states or other jurisdiction and information regarding revocation of any such license;
• The tax identification number of the applicant; and
• A current certificate of good standing for the applicant from the state or other jurisdiction in which the applicant’s business is formed.

Each applicant must also arrange to have taken, by a law enforcement agency or other authorized entity acceptable to the Division, a complete set of the applicant’s fingerprints and the fingerprints of each person or officer who will be conducting the business of the applicant in this State and who has authority to transfer exchange money held by the applicant. The Division may submit those fingerprints to the Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary.

The Division shall approve an application submitted pursuant to this section within 45 days after the submission of the completed application, any additional information required by the Division and proof satisfactory to the Division that the applicant has complied with the provisions of NRS 645G.320. Upon approval of an application, the Division shall issue a license to the applicant. A license issued pursuant to this chapter expires on December 31 of each year unless it is renewed.

Conclusion

Based on the additional context documents provided, it is unclear whether you can collect debit card information from participants in Nevada without a license. However, to act as an exchange facilitator in Nevada, you must obtain a license from the Division and comply with the requirements set forth in NVRS 645G.100.

Jurisdiction

Nevada

• Privacy