What are the laws concerning online payments?
In Florida, online payments are subject to state, federal, and international laws. Under Florida state law, any payment made online must include a valid payment method with a valid address and account information. Additionally, any payment made over the internet must be explicitly authorized by the person receiving the payment. At the federal level, the Electronic Fund Transfer Act and the Uniform Electronic Transactions Act regulate electronic payments. The Electronic Fund Transfer Act requires banks to provide customers with disclosures of their fees and the details of their accounts. The Uniform Electronic Transactions Act allows for contracts to be formed electronically and protects consumers who electronically transmit payments from fraud. At the international level, the International Standards for Payment Fraud Control sets out standards for ensuring payments are secure and protects against fraudulent or unauthorized payments for goods and services. In short, in Florida, online payments must be authorized and include a payment method with valid information. Additionally, online payments are subject to federal and international laws that protect customers from fraud and provide disclosure of fees and accounts.
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