Consumer Duty
Ecommpay is always committed to ensuring fair and good outcomes for our merchants and believe that trust and respect are key principles to achieving this.
A regulatory duty, known as the Consumer Duty, also requires UK financial services firms that provide services to retail customers, such as individuals, small charities and micro-enterprise entities (less than 10 employees and turnover of less than €2.5m), to adopt a higher standard of protection.
While Ecommpay does not have any retail customers as direct customers, we believe that it is important to apply the principles of the Consumer Duty to all of our merchants, whether existing, new or prospective. This means that we commit to:
- Acting in the best interests of our merchants. We will always put the needs of our merchants first and will work with them to find the best payment processing solution for their business.
- Being fair and transparent. We will provide clear and concise information about our products and services, and we will be transparent about our pricing.
- Providing a good level of customer service. We will be responsive to our merchants' needs and will work to resolve any issues promptly.
- Taking steps to prevent fraud and other financial crime. We will use the latest technology to protect our merchants from fraud and other financial crime.
We believe that by applying the principles of the Consumer Duty to all of our merchants, we can help them to succeed and achieve their financial goals.
Our Engagement Approach
We also believe that it is important to have an engagement approach with our merchants that is fair, friendly and committed. This means that we will:
- Be easy to contact and communicate with.
- Be responsive to our merchants' questions and concerns.
- Be willing to work with our merchants to find solutions that meet their needs.
We believe that by taking this approach, we can build strong relationships with our merchants and help them to achieve their goals. If you wish to learn more about the Consumer Duty, please visit the FCA’s Consumer Duty website.
