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Can I use third-party payment processors on my website in Florida? What are the requirements?

Here is the response to your query:

Using Third-Party Payment Processors in Florida

If you are not a state agency or the judicial branch, you may use third-party payment processors on your website in Florida, subject to certain requirements.

Requirements for Using Third-Party Payment Processors

To use third-party payment processors on your website in Florida, you must comply with the following requirements:

  1. Obtain Approval: A state agency or the judicial branch desiring to accept electronic payments through the use of credit cards, charge cards, debit cards, or electronic checks shall submit a written request to the Chief Financial Officer [1.2]. If you are not a state agency or the judicial branch, you do not need to obtain approval from the Chief Financial Officer.
  2. Use Commercially Reasonable Security Procedures: If you and your bank have agreed that the authenticity of payment orders issued to the bank in the name of the customer as sender will be verified pursuant to a security procedure, a payment order received by the receiving bank is effective as the order of the customer, whether or not authorized, if the security procedure is a commercially reasonable method of providing security against unauthorized payment orders [4.1].
  3. Enter into a Written Contract: If you are a licensee under Florida law, you must enter into a written contract, signed by the licensee and the authorized vendor, which sets forth the nature and scope of the relationship between the licensee and the authorized vendor, including the respective rights and responsibilities of the parties [2.3].
  4. Comply with Applicable Laws and Rules: You must adhere to the applicable state and federal laws and rules pertaining to a money services business [2.3].

Additional Requirements

In addition to the above requirements, if you are seeking a license under Florida law, you must submit a sample authorized vendor contract, if applicable, and a sample form of payment instrument, if applicable, along with documents demonstrating that the net worth and bonding requirements specified in s. 560.209 have been fulfilled, and a copy of the applicant’s financial audit report for the most recent fiscal year [2.1].

Conclusion

You may use third-party payment processors on your website in Florida, subject to certain requirements, including obtaining approval, using commercially reasonable security procedures, entering into a written contract, and complying with applicable laws and rules [4.1][1.2][2.3][2.1].

Source(s):
Jurisdiction

Florida