General Transaction Processing. Servicer shall provide all transaction-processing services with the capability required to receive, enter, process and post Gift Card transaction activity on a real time basis. The processing and posting of transactions shall be accomplished using a wide variety of controls and settings available to and selected by Bank. Monetary transactions, including debit and credit sales, returns, refunds, adjustments and charge backs shall be supported on a real time basis. Other non-monetary transactions shall be supported and used to maintain non-monetary account information. Authorization transactions shall be supported on a real time basis. Bank acknowledges that Servicer will use the TS1 Platform for transaction processing. Servicer shall not use a different platform for transaction processing without first obtaining Bank’s written consent. Servicer shall provide transaction-processing services for all monetary transactions received by Servicer from the applicable Network for posting to the Cardholder account.
Appears in 2 contracts
Sources: Card Program Services Agreement (Green Dot Corp), Card Program Services Agreement (Green Dot Corp)