Common use of Cashback Clause in Contracts

Cashback. If Merchant allows Cardholders to initiate Cashback transactions, Merchant must transmit for each Cashback transaction initiated at a Merchant location the amount of Cashback given to Cardholder pursuant to the transaction. Merchant may not give a Cardholder Cashback in an amount greater than the dollar amount authorized or the difference between the amount and the total purchase price for Merchant’s goods or services, whichever is the smaller amount, and in no case shall Merchant give Cashback in an amount exceeding one hundred dollars ($100.00). If a Cashback transaction is denied solely because the Cashback amount would cause Cardholder to exceed any daily limit on cash withdrawals applicable to Cardholder’s Card, Merchant shall tell Cardholder the reason for the denial and invite Cardholder to initiate a POS transaction for the purchase amount alone.