Payment Processing definition
Payment Processing means providing a Person, directly or indirectly, with the means used to charge or debit accounts through the use of any payment mechanism, including, but not limited to, Remotely Created Payment Orders, Remotely Created Checks, ACH Debits, or debit, credit, prepaid, or stored value cards. Whether accomplished through the use of software or otherwise, Payment Processing includes, among other things: (a) reviewing and approving merchant applications for payment processing services; (b) providing the means to transmit sales transaction data from merchants to acquiring banks or other financial institutions; (c) clearing, settling, or distributing proceeds of sales transactions from acquiring banks or financial institutions to merchants; or (d) processing Chargebacks or returned Remotely Created Payment Orders, Remotely Created Checks, or ACH Debits.
Payment Processing means providing a person with the means to charge or to debit an account through a payment mechanism, including a Remotely Created Payment Order, an ACH Debit, or a debit, credit, prepaid, or stored value card. Payment processing includes reviewing and approving a merchant application for payment processing services; providing the means to transmit sales transaction data from a merchant to an acquiring bank or to another financial institution; clearing, settling, or distributing a proceed of a transaction from an acquiring bank or from a financial institution to a merchant; or processing a
Payment Processing means transmitting sales transaction data on behalf of a Merchant or providing a Person, directly or indirectly, with the means used to charge or debit accounts through the use of any payment method or mechanism, including, but not limited to, credit cards, debit cards, prepaid cards, stored value cards, ACH debits, remotely created payment orders, and remotely created checks. Whether accomplished through the use of software or otherwise, Payment Processing includes, among other things: (a) reviewing and approving Merchant applications for Payment Processing services; (b) transmitting sales transaction data or providing the means to transmit sales transaction data from Merchants to Acquirers or other Financial Institutions; (c) clearing, settling, or distributing proceeds of sales transactions from Acquirers or Financial Institutions to Merchants; or (d) processing chargebacks or returned remotely created payments orders or ACH debits.
Examples of Payment Processing in a sentence
BECU—Deposit and Payment Processing Mail Stop 1085-2 P.O. Box 97050 Seattle, WA 98124-9750 A fee as set forth in the Consumer Account Disclosure will be assessed and charged to your Account for each stop-payment request you make.
Payment Processing We may delay the availability of credit until we confirm that your payment has cleared.
Contractor must submit their invoices in accordance to the stipulations outlined in the Payment Processing section below.
Schedule 7.28 sets forth, with respect to each account of the Credit Parties with any bank, broker, Payment Processing Company, or other depository institution: (i) the name and account number of such account; (ii) the name and address of the institution where such account is held; (iii) the name of any Person(s) holding a power of attorney with respect to such account, if any; and (iv) the names of all authorized signatories and other Persons authorized to withdraw funds from each such account.
Reporting requirements for the On-Line Payment Processing activities set forth in this Section 2.9 are outlined under Attachment L.
More Definitions of Payment Processing
Payment Processing means facilitating payments on Debts owed or due or asserted to be owed or due another, or Debts purchased from another.
Payment Processing means transmitting sales transaction data on behalf
Payment Processing. All payments received by CAPCO will be applied to CLIENT’s Outstanding Balance daily following a 1 (One) business day hold to allow for the application of collected funds.
Payment Processing. All payments received by CAPCO will be applied to CLIENT’s Outstanding Balance daily following a 3 (Three) business day hold to allow for the application of collected funds. Funds received via wire transfer will be applied the day after receipt. In the event CLIENT has fully paid all amounts due CAPCO under this agreement including but not limited to fees, expenses and advances, CAPCO agrees to promptly remit any funds collected in excess of the amounts due to CAPCO to CLIENT at CLIENT’s request. At CLIENTS request (and subject to payment of all amounts fees due to CAPCO) CAPCO agrees to promptly terminate the agreement and re convey all right title and interest in the Accounts to CLIENT. In the event CLIENT notifies CAPCO of its intention to terminate the agreement and CAPCO has been fully paid all amounts due CAPCO, said notice of termination shall not be considered an event of default.
Payment Processing means transmitting sales transaction data on behalf of a Merchant or providing a Person, directly or indirectly, with the means used to charge or debit accounts through the use of any payment method or mechanism, including credit cards, debit cards, prepaid cards, and stored value cards. Whether accomplished through the use of software or otherwise, Payment Processing includes, among other things:
Payment Processing means the process for funding Sub-merchant’s customer’s sales transactions, as more fully described in Attachment A.
Payment Processing means providing a Person, directly or indirectly,