Dear Partner,

We are writing due to the escalating conflict in Ukraine. As you know, Verifone highly values its relationship with all partners across the world and appreciates the importance of strong business relationships.

Unfortunately, due to the current situation and the restrictions enforced by several countries, including the U.S., UK, and the European Union, we need to implement several compliance updates.

What does this mean for Verifone (including 2Checkout) and its clients and partners?

Verifone has already implemented several screening and controlling systems to monitor the situation and stay up to date with all applicable sanctions imposed.

As of this moment, Verifone applies a suspension of transactions involving shoppers, merchants, and affiliates located in the Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) regions of Ukraine. This means that:

Shoppers from the above-mentioned regions cannot place orders on any of the systems managed by 2Checkout / Verifone Payments BV or access any of our services (such as 2Checkout MyAccount)
Merchants and affiliates from the above-mentioned regions cannot access any of the 2Checkout services or receive payouts.

Also, as required under applicable sanctions, Verifone will restrict payouts to merchants, partners, and affiliates that involve any of the restricted or sanctioned banks from Russia and Belarus. The list of restricted and sanctioned banks continues to change rapidly, which may impact future payouts. These lists: UK list, U.S. list for Russia, U.S. list for Belarus, European Union list will be updated as new sanctions roll out.

When do the restrictions above come into effect?

The restrictions described above will be implemented immediately to comply with current sanctions. Verifone will continue to monitor and will take steps to provide notice to our merchants, partners, and affiliates of any applicable changes. However, given the nature of the conflict and rapid changes, we may need to take additional compliance measures with little or no advanced notice.

Do I need to do anything?

You do not need to take any steps regarding the restrictions mentioned above as Verifone will block shopper transactions and merchant/affiliate services and payouts as described. We only request you to be prepared for possible communication with your customers on the matter.

We truly understand that this period has a lot of uncertainties, and everything is changing by the hour. Still, we want to assure you that we are doing everything we can to support our merchants and partners during these difficult times while fully respecting all applicable compliance requirements.

Please feel free to contact our Merchant Support Team (supportplus@2checkout.com) or your account manager should you have any other questions.

We hope you and your families are safe, and we will keep you updated on any changes.

The Verifone Team