Legal Opinions
The draft legal opinion always needs to be sent to this Payvision department for sign off.
Legal
A data b - - - - - in general is the unauthorized acquisition of data that compromises the security, confidentiality, or integrity of information maintained by a data collector.
breach
Which of these is NOT a restricted business type for MS?
Cellular phones
Dating services
E-Wallets
Fortune tellers
Internet gaming
Timeshares
E-Wallets
Which is considered high risk by Payvision?
Boleto
Brazil
The legal opinion must be issued by what type of law firm?
renowned, reputable, well-known, or a similar answer.
GDPR (General Data Protection Regulation) gives control back to *these* residents over their personal data, with failing companies having to pay fines up to EUR 20 million.
EU
Merchant Solutions does the merchant setup at bank level. They provide the ______________ to Payvision
MID
Which is considered high risk by Payvision?
UnionPay (CUP)
China
Regardless of whether one of these is needed, the legal opinion needs to state that one has either been obtained or clearly state that one is not needed and other appropriate authority has been obtained.
license
Personally Identifiable Information or PII is information that can be used (on its own or with other information) to identify, contact, or locate a single person. PII is one of the main focus points for GDPR regulation. Name 3 of the 9 personal identifiers under PII.
Merchant Solutions doesn't have Rolling Reserve, so they usually take __________ deposit.
upfront (or similar answer)
Which is considered high risk by Payvision?
Giropay
Germany
Three of these statements must be included in the legal opinion. Which one did I make up?
1. a statement that the UBO of the company understands and will abide by current international industry regulation.
2. a statement/confirmation that the company complies with all applicable (regulatory) laws;
3. a statement that the company is duly incorporated and duly registered at the national registers
4. a statement that the activities of the company do not conflict with its articles of association/bylaws
1. a statement that the UBO of the company understands and will abide by current international industry regulation.
To manage and improve company data, Payvision has defined 6 Data principles that dictate how we manage our data. Fill in 2 of the blanks below using the first letter provided.
The signing of the Merchant Agreement must happen in the presence of MS staff. In exceptional cases, signing can be arranged via ____________________ with MS staff
a live video conference (or similar answer)
Which is considered high risk by Payvision?
Cabal
Argentina
We need to receive a legal opinion from each jurisdiction(s) where:
i) the company is ___________
ii) the ____________ is obtained; and
iii) the company offers its __________.
i) the company is incorporated
ii) the license is obtained; and
iii) the company offers its services.
There are currently 6 members of the Payvision Data Council. What are two of their first names?
Settlement bank accounts don't have to be with Standard Chartered, however they must be in the merchant's country of incorporation. Incorporation countries can be from Hong Kong, Singapore, or _____________.
Malaysia
Which is considered high risk by Payvision?
Yandex (name 3)
Armenia, Azerbaijan, Belarus, Kyrgyzstan, Republic of Moldova, Russia, Tajikistan, Ukraine