The Inform Consumer Act:

Way.com is an online marketplace that helps you simplify and save on car related expenses. We facilitate the buying and selling of our partners various services through our website and mobile application. We act as an intermediary, providing a secure and convenient space for these transactions to take place.

As an online marketplace, we prioritize building trust and fostering transparency between our customers and the vendors that own and operate the services we list.

It is with that transparency in mind that we want to take a moment to inform you about an essential law that protects your rights as a consumer—the Consumer Act. As a valued customer of Way.com, we believe it is crucial for you to be aware of your rights and how they are safeguarded under this legislation.

What is the Inform Consumer Act?

The purpose of the INFORM Consumers Act is to establish a secure and transparent online purchasing experience by mandating that online marketplaces such as way.com gather, validate, and disclose specific details about high-volume sellers to their customers.

Who does this impact?

The INFORM Consumers Act impacts high-volume sellers, who are defined as sellers who have sold inventory totaling more than $5,000 in a 12-consecutive-month period over the last 24 months.

What information do you collect?

If you’ve sold inventory totaling more than $5,000 in a 12-consecutive-month period over the last 24 months we’ll need to collect and verify your:
Government-issued ID
Bank account number
Tax identification number
Phone number
Email address
And once you reach $20,000 in annual way.com revenue, we’re required to include your company name and full physical address in our confirmation emails.

If I’ve already provided this information, do I need to provide it again?

No, but you’ll need to keep your information up to date and we’ll ask you to confirm everything annually.

What if I don’t provide this information?

If we don’t receive this information, we may need to put your payments or account on hold. Once all of your information is received and verified we will be able to resume payments and/or reactivate your account.

When did the INFORM Consumers Act go into effect?

The INFORM Consumers Act is effective as of June 27, 2023.

What this means for our customers:

The Consumer Act is a comprehensive law designed to ensure fair and transparent transactions between businesses and consumers. It encompasses a wide range of provisions aimed at protecting consumer interests, promoting ethical business practices, and establishing mechanisms for dispute resolution. We want to emphasize that your satisfaction and trust are of utmost importance to us, and we are fully committed to upholding the principles outlined in the Consumer Act.

Here are some key aspects of the Consumer Act that you should be aware of: Consumer Rights: The Consumer Act guarantees your rights as a customer. Product Safety: We prioritize the safety and quality of the services we offer. Consumer Information: We believe in providing accurate and comprehensive information about the services we list online. We strive to be transparent in our communication, ensuring that you have the necessary details to make informed purchasing decisions. Dispute Resolution: In the unlikely event that a dispute arises, we are committed to resolving it amicably and promptly.

At Way.com, we value your trust and satisfaction as our customer. We want to assure you that we are fully compliant with the Consumer Act and are dedicated to providing you with exceptional products, services, and customer support.

If you have any questions, concerns, or require further information about the Consumer Act or our commitment to consumer rights, please do not hesitate to reach out to our customer support team. We are here to assist you and address any inquiries you may have.

What this means for the vendors we partner with:

The INFORM Consumers Act has been implemented to ensure a secure and transparent online purchasing experience. As a result, we are required to gather, verify, and disclose specific information regarding high-volume sellers.

A high-volume seller is someone who has sold inventory totaling more than $5,000 in a 12-consecutive-month period over the last 24 months. If you meet the criteria we will collect and verify the sellers’ government-issued ID, bank account number, tax identification number, phone number and email address. For sellers who reach $20,000 in annual Way.com revenue, we will include the sellers’ company name and full physical address in confirmation emails.

It is essential for high-volume sellers to maintain accurate and up-to-date information, and we will request you to review and validate it on an annual basis.

We are committed to complying with the INFORM Consumers Act and ensuring that our marketplace remains a safe and transparent environment for all users. If you have any questions or require further clarification regarding this legislation, please feel free to contact your account rep.