Card Transaction Clause Samples
The Card Transaction clause defines the terms and conditions under which payment card transactions are processed between parties. It typically outlines the responsibilities of both the cardholder and the merchant, such as authorization procedures, settlement timelines, and handling of disputed charges. By establishing clear rules for how card payments are accepted and managed, this clause helps prevent misunderstandings and ensures secure, efficient processing of electronic payments.
Card Transaction. A payment made using a credit or debit card, an American Express card, or any other payment method using a physical data-carrying item intended to be held in the payor’s possession. The Services support only certain types of Card Transactions; see the PayPal Website for more information.
Card Transaction a Transaction in terms whereof an App User uses a Card through the Payment App to pay you for your goods or services;
Card Transaction. 4.1 The Bank will maintain a Card Account in respect of the Card Transactions. The values of:
a) One-Off Drawdown;
b) Installment payments;
c) All cash advances or other transactions in connection with or effected by the use of the Card (whether or not the Card is physically used by the Cardholder or another Person); and
d) All interest, fees, charges, outstanding balance and other sums payable will be debited to the Card Account.
4.2 The Cardholder shall be responsible for all Card Transactions and all costs and expenses whether within or in excess of credit limit/combined credit limit (including, without limitation, legal fees and cost of engaging collection agent(s)) reasonably incurred by the Bank in enforcing this Agreement and/or recovering any sum owed by the Cardholder to the Bank which may be debited to the Card Account. Subject to Clause 6.1 the Cardholder shall pay promptly the New Balance on or before the Payment Due Date or otherwise upon demand by the Bank. The Cardholder’s failure to sign any cash advance drafts will not relieve the Cardholder for liability to the Bank in respect thereof.
4.3 The Bank shall be under no duty to verify the identity of the Person giving any Transaction Instruction purportedly in the name of a Cardholder. In the absence of any notice, the Bank is authorized to act on any Transaction Instruction, which the Bank in good faith believes to have emanated from a Cardholder. In no circumstances shall the Bank be held liable for acting in good faith upon any such Transaction Instruction which is subsequently found to have emanated from an unauthorized Person (and whether or not any cash advance draft or other document was required to be signed in order to issue the Transaction Instruction) and each Cardholder shall remain liable for all charges arising from any such Transaction Instruction.
Card Transaction a payment, cash receipt, exchange and other transactions, conducted with the use of a card under the terms, determined by the Bank, payment card system and contradicting with the legislation of the Republic of Kazakhstan;
Card Transaction a sequence of messages generated and transmitted to each other by the Bank and the Client and/or Participants of the relevant System when servicing the Client under the terms and conditions stated in the Agreement and internal documents of the Bank Card transactions include the following operations:
Card Transaction. 3.1 The provisions in this Clause 3 shall be applicable in the case of transactions carried out through the use of Cards to the exclusion of EMV Cards which shall be governed by Clause 5.2 and Contactless Card which shall governed by Clause 5.3:-
a) The authorisation code released by FCSB to the Merchant shall constitute final and conclusive evidence as authority for the Merchant to complete the relevant transaction and shall be final and binding on the Merchant whether such record is maintained by FCSB or the Payment System Operator.
b) In circumstances where the Merchant believes or knows or shall be deemed to have known reasons to suspect or as soon as the Merchant becomes aware that:-
i. The Card presented may be forged or stolen; and/or
ii. There are unusual circumstances relating to the transactions including but not limited to transactions which are irregular, fraudulent or which are not authorised by the Cardholder. The Merchant shall on each occasion PRIOR to the completion of the transaction request and obtain from FCSB by telephone or through other alternate means FCSB’s specific authorisation. The Merchant without so obtaining FCSB’s specific authorisation shall not under any circumstances present such Sales Slip/Terminal Receipt to FCSB for payment or execute the Settlement Function to effect payment from FCSB to the Merchant. The Merchant nonetheless shall at all times remain liable to reimburse FCSB in full should FCSB inadvertently or on account of any other reason make payment or unauthorised payment for such transactions which are carried out or effected by the Merchant’s staff or employee whether within or outside the course of their employment.
Card Transaction. 4.1 The card or card number can be used to make or authorize payments to Merchants who accept the card. The card PIN can be used in cash machines which accept the card to obtain cash.
4.2 Once the card has been authorized for a transaction, the transaction cannot be stopped
4.3 If the card is used to draw cash from a cash machine operated by another bank, there may be a handling charge.
4.4 we may be requested to authorize a purchase other payment you make with your card before it can be completed. If we do, your account balance will be reduced by the amount of the authorization we may refuse a request for a authorization
Card Transaction. Refers to the use of the card for depositing, cash withdrawal, transfers, paying for goods and services, using online card services, and other services provided by the Bank or Acquirers.