Restricted goods & services

The Issue

The most common restrictions denoted by goods and services that are identified in this category of commerce are the minimum age requirements set for those consumers who are able to purchase them. The determination that this minimum age requirement is being met (prior to completing a sale) is the responsibility and legal obligation of the retailer. For the retailer, simply ensuring robust operational processes are in place to fulfill these legal obligations is not sufficient, the retailer must demonstrate compliance as and when requested to do so by the relevant jurisdictional authority. A regulator must be able to review the retailers compliance policy and independently assess the efficacy of the operational processes that have been implemented to ensure policy compliance. The dramatic expansion of low cost digital (person-not-present) sales & distribution channels has highlighted the challenge facing retailers and the regulatory authorities. Operational processes that assured regulatory compliance for in-person sales are not delivering the same assurance digital channels. Growing public safety concerns with the ease of access for minors to adult services that have dramatically grown in scope and an active political agenda driving expansion of both regulatory authority and enforcement capabilities requires solutions that not only address digital compliance requirements but do so in a commercially sensitive manner.

The Solution

Delivering simple to use, consumer friendly and commercially effective solutions that support both domestic and multi-national service providers in meeting the required compliance controls relevant to the jurisdictions in which they conduct business. In conjunction with meeting compliance obligations related to the specific restricted goods or services, multi-national operators must ensure compliance with various jurisdictional data privacy obligations. Paycasso ensures its clients’ satisfaction of such obligations through both solution deployment options. Saas/Cloud solutions are facilitated through mirrored deployments in the global network of AWS Data Centre’s. Coverage stretches from Sydney, Australia through to N. American facilities. Paycasso’s deployed software (client on-premise) platform ensures those clients who wish to maintain absolute control can deploy multiple instances within their own in-country data centre facilities.

  • Reducing user account registration effort whilst supporting regulatory compliance
  • Delivering low impact, commercially viable solutions
  • Raising barriers that effectively restrict under-age access
  • Supporting regulated service providers with comprehensive audit capabilities

 

Other Resources

Interview with CEO of Paycasso, Russell King: FinTech is a force for good
Paycasso Takes Part at the #RegTech & Security Connect Advisory board meeting
Forbes magazine feature profile: Russell S. King, Founder and CEO, Paycasso