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.
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.
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.
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.
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.