What are the laws concerning online payments?

In Washington, online payments are subject to both state and federal law. The Washington State Electronic Transactions Act (WSETA) outlines the requirements for businesses that use electronic commerce, including those related to online payments. The WSETA states that all electronic payments must be secure, meaning that businesses must use encryption to protect the data that is transmitted over the internet. In addition, the WSETA requires that businesses must follow the rules that govern other forms of payment, such as cash, checks, and credit cards. This includes requirements such as displaying the terms of sale, providing a means for consumers to dispute charges, and providing notices about when a payment is processed. The federal government also has laws in place for online payments, including the Electronic Funds Transfer Act (EFTA). This law requires financial institutions to protect customer information and to provide accurate information about their services. The EFTA also requires financial institutions to provide consumers with their rights under the EFTA and to give them error resolution rights should they have problems with their online payments. Overall, online payments in Washington are subject to both state and federal laws. These laws provide protections for consumers and businesses alike, ensuring that online payment transactions are secure and accurate.

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What are the laws concerning online payments?

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