General Transaction Processing Clause Samples

General Transaction Processing. 17.1.1 Servicer shall provide all Transaction-processing services with the capability required to receive, enter, process and post 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, *** Confidential material redacted and filed separately with the Commission adjustments, charge backs, and payments 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. 17.1.2 Servicer shall provide Transaction-processing services for all monetary Transactions received by Servicer from the applicable Network for posting to the Cardholder account. 17.1.3 Servicer shall receive and accept Cardholder direct deposits from Bank’s third-party service provider.

General Transaction Processing. Servicer shall provide all Transaction-processing services with the capability required to receive, enter, process and post 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,