What is the Arkansas INFORM Act?

An Arkansas law called the Arkansas Marketplace Consumer INFORM Act is in effect. It is similar to laws proposed in other states and at the federal level, also generally titled as INFORM Acts. These laws intend to reduce the sale of counterfeit goods through online marketplaces by increasing transparency about online sellers.

Does the INFORM Act apply to me?

The law applies directly to online marketplaces with third-party sellers of consumer products. It requires the online marketplace to collect and verify specific information about their sellers. If you might fall into this group, we recommend that you review the INFORM Act with your legal counsel to determine how the Arkansas law or other similar proposed laws could impact your business and your sellers.

Does Connect onboarding satisfy the INFORM Act requirements?

No. Stripe’s onboarding process is dynamic, based on the risk and capabilities of the user, and optimized to meet the requirements that apply to Stripe as a payment processor with the least friction for users. We do not recommend relying on Stripe’s existing onboarding or verification processes for compliance with the INFORM Act because they were not designed for it. Stripe’s verification processes and thresholds will not always align to the requirements in the INFORM Act.