Paymate informed Australian and New Zealand merchants using its online-payment service to update their accounts. According to the notice, users must update their Merchant Details within 30 days, including details about the owners of the business and the category of products sold. Merchants who do not submit Merchant Details by September 30, 2010 risk an account suspension.
Paymate CEO Garrett Gafke told AuctionBytes it was a regulatory requirement from the company's banking partners. The announcement can be found on this page.
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Paymate informed Australian and New Zealand merchants using its online-payment service to update their accounts. According to the notice, users must update their Merchant Details within 30 days, including details about the owners of the business and the category of products sold. Merchants who do not submit Merchant Details by September 30, 2010 risk an account suspension.