Card Processor Clause Samples

The Card Processor clause defines the responsibilities and obligations of the party that processes payment card transactions on behalf of another entity. Typically, this clause outlines the standards for handling cardholder data, compliance with payment network rules (such as PCI DSS), and the procedures for settlement and reporting of transactions. By clearly assigning duties and compliance requirements, the clause ensures secure and efficient processing of card payments, reducing the risk of data breaches and financial disputes.
Card Processor. Transact provides connectivity with payment processors ("Processors"), at the levels designated, as set forth in the Documentation for the purpose of authorization and settlement of transactions via the Transact Payment Gateway. Customer will establish a merchant account with a financial institution that processes credit card or ACH transactions with one of the Processors that Transact has established relationships with prior to deployment of such functionality in the Software. Modifications requiring supporting changes of Customer’s bank, accepted Customer payment methods, Processor, or communication interfaces with the Processor will be chargeable to Customer and performed on a time and materials basis pursuant to a separate Statement of Work from Transact. Changes required to the Software to enable Customer to change Processors or communication interfaces to a Processor will be subject to a one-time charge for labor and licensing of Software, to be determined by Transact at the time of the change request.
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Card Processor. Blackboard provides connectivity with such payment processors (“Processors”), at the levels designated, as set forth in the Documentation for the purpose of authorization and settlement of transactions via the Blackboard Payment Gateway. Customer shall establish a merchant account with a financial institution that processes credit card or ACH transactions with one of the Processors that Blackboard has es tablished relationships with prior to deployment of such functionality in the Software. Modifications required supporting changes of Customer‟s bank, accepted Cust omer payment methods, Processor, or communication interfaces with the Processor will be chargeable to Customer and performed on a time and materials basis pursuant to a separate Statement of Work from Blackboard. Changes required to the Software to enable Customer to change Processors or communication interfaces to a Processor will be subject to a one-time charge for labor and licensing of software, to be determined by Blackboard at the time of the change request.
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Card Processor. Prosper Card transactions shall be authorized by a processor selected by Prosper; provided Coastal shall enter into any agreement or documentation required by Prosper or its processor in connection with processing services or activities. Prosper’s selection of the processor shall be subject to Coastal’s prior approval, which approval shall not be unreasonably withheld, conditioned or delayed.
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Card Processor. TSYS has been informed and is aware of the assumption of its agreement with FNANB by Purchaser. TSYS has indicated to FNANB that TSYS will cooperate and assist with the transition from FNANB to Purchaser.
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Card Processor. ▇▇▇▇ Card transactions shall be authorized by a processor selected by ▇▇▇▇. ▇▇▇▇’s selection of the processor shall be subject to Coastal’s prior approval, which approval shall not be unreasonably withheld, conditioned, or delayed.
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Related to Card Processor

  • Sub-processor For the purposes of this Agreement, the term “Sub-processor” (sometimes referred to as the “Subcontractor”) means a party other than LEA or Provider, who Provider uses for data collection, analytics, storage, or other service to operate and/or improve its software, and who has access to PII.

  • Processor a natural or legal person, public authority, agency or other body which processes personal data on behalf of the controller.

  • Merchant has the power and authority to authorize the automatic funds transfer provided for in the Merchant Agreement;

  • Credit Cards About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported they pay off their balance each month and, as such, their current credit card balance is zero; however, when asked what their current credit card balance is, just 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 43% One 45% 42% 42% 50% 45% Two 7% 6% 6% 8% 3% Three or more 8% 10% 7% 9% 9% Average number 1.8 2.8 1.2 2.2 1.2 Yes 88% 83% 88% 89% 80% Zero 7% 2% 14% 2% - $500 or less 83% 83% 79% 87% 82% $501 to $1,000 5% 7% 4% 6% 9% Over $1,000 5% 8% 4% 6% 9% Average (all with credit card) $487 $652 $352 $564 $385 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $974 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

  • Credit Card Agreements Each Borrower and Guarantor shall (a) observe and perform all material terms, covenants, conditions and provisions of the Credit Card Agreements to be observed and performed by it at the times set forth therein; (b) not do, permit, suffer or refrain from doing anything, as a result of which there could be a default under or breach of any of the terms of any of the Credit Card Agreements and at all times maintain in full force and effect the Credit Card Agreements and not terminate, cancel, surrender, modify, amend, waive or release any of the Credit Card Agreements, or consent to or permit to occur any of the foregoing; except, that, any Borrower or Guarantor may terminate or cancel any of the Credit Card Agreements in the ordinary course of the business of such Borrower or Guarantor; provided, that, such Borrower or Guarantor shall give Agent not less than ten (10) Business Days prior written notice of its intention to so terminate or cancel any of the Credit Card Agreements; (c) not enter into any new Credit Card Agreements with any new Credit Card Issuer unless Agent shall have received not less than ten (10) Business Days prior written notice of the intention of such Borrower or Guarantor to enter into such agreement (together with such other information with respect thereto as Agent may request) and such Borrower or Guarantor delivers, or causes to be delivered to Agent, a Credit Card Acknowledgment in favor of Agent; (d) give Agent immediate written notice of any Credit Card Agreement entered into by such Borrower or Guarantor after the date hereof, together with a true, correct and complete copy thereof and such other information with respect thereto as Agent may reasonably request; (e) furnish to Agent, promptly upon the request of Agent, such information and evidence as Agent may require from time to time concerning the observance, performance and compliance by such Borrower or Guarantor or the other party or parties thereto with the terms, covenants or provisions of the Credit Card Agreements; and (f) not modify any instructions given by Agent to any Credit Card Issuer or Credit Card Processor provided for in any Credit Card Acknowledgement or otherwise direct the remittance of payments under any Credit Card Agreement to any account other than the Blocked Account.