Interchange Fees Sample Clauses
The Interchange Fees clause defines the fees charged between banks for processing card-based transactions. Typically, when a customer uses a credit or debit card, the merchant's bank pays an interchange fee to the cardholder's bank, which is often set by the card network and may vary depending on the type of card or transaction. This clause clarifies how these fees are determined and allocated, ensuring transparency and helping parties understand their financial obligations related to payment processing.
POPULAR SAMPLE Copied 1 times
Interchange Fees. Interchange Fees are set by Visa and MasterCard. If you receive card payments under the Interchange Plus pricing model, Braintree shall always charge you the Interchange Fee as set by Visa and MasterCard and as passed on by Braintree’s Acquirer. For more information on Interchange Fees, please see MasterCard’s and Visa’s websites.
Interchange Fees. Bank will pay BMT the following interchange fees (“Interchange Fees”): (i) an amount equal to all debit card interchange revenues on demand deposit accounts generated by BMT for Bank; and (ii) the difference between ▇▇▇▇▇▇ Exempt and ▇▇▇▇▇▇ regulated interchange revenues on such accounts. BMT will calculate the Net Interchange Fees at the ▇▇▇▇▇▇ Exempt rates as of the Effective Date and invoice the Bank the ▇▇▇▇▇▇ Exemption amount. Beginning on the first day of each calendar month following the Effective Date, and every calendar month thereafter, BMT shall be permitted to re-set the ▇▇▇▇▇▇ Exempt rates based on data from one or more major financial card services companies that collect such data (for example, but not by way of limitation, Mastercard or NYCE) or published rates from key partners. Methodology to determine ▇▇▇▇▇▇ Exempt rates will be established and back tested to ensure an acceptable level of accuracy and such methodology will be agreed on by both Parties. Eighty percent (80%) of the estimated quarterly difference between ▇▇▇▇▇▇ Exempt and ▇▇▇▇▇▇ regulated interchange revenues shall be paid by the Bank to BMT in advance, with final payment due within fifteen (15) days of the last day of each quarter, or as otherwise agreed by both Parties.
Interchange Fees. The State Agency shall not pay or reimburse the Vendor, for interchange fees on eWIC transactions.
Interchange Fees. For each transaction performed through the use of the Channel's ABM Device, the Channel shall receive the appropriate Interchange Fees, if any, outlined in Schedule A. This fee will be paid monthly net of any outstanding invoices due to TNS.
Interchange Fees. Microsoft is authorized to deduct any applicable interchange fees and costs assessed against Microsoft by third parties from any sales proceeds generated from the Transactions which deductions shall be taken into account in determining Net Revenue in accordance with the definition thereof in the Agreement. For purposes of Card Transactions, such compensation assumes that all applicable Card Transactions qualify under Network Rules for the lowest applicable interchange rates. Non-qualifying Card Transactions may be subject to greater fees.
Interchange Fees. Interchange Fees are set by the Networks (“Interchange Fee(s)”). If you receive card payments under the Interchange Plus pricing model, PayPal shall always charge you the Interchange Fee as set by the Networks and as passed on by the Acquirer. For more information on Interchange Fees, please see MasterCard’s and Visa’s websites.
Interchange Fees. In addition to the charges specified on the Fee ---------------- Schedule, Customer shall be responsible for all interchange and network provider fees and all dues, fees and assessments established by and owed to Visa and/or MasterCard for the processing of Customer's transactions.
Interchange Fees. Interchange Fees are set by the Networks (“Interchange Fee(s)”). ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Services shall always charge the Customer the Interchange Fee as set by the Networks and as passed on by the Acquirer. For more information on Interchange Fees, please see the Networks’ websites.
Interchange Fees. 7 6.4. Training and Education ........................................ 7 6.5. Excluded Costs ................................................ 7 6.6.