Payment Cards. When accepting payment card payments, you must comply with all applicable Network Rules, including the Network Rules specified by the Visa Rules and Regulations Rules specified by Visa U.S.A., Inc. and Visa International ("Visa"), the Mastercard Rules specified by MasterCard International Incorporated ("Mastercard"), and the American Express Merchant Operating Guide specified by American Express. Collectively, Visa, Mastercard and American Express are referred to in this Agreement as the "Networks". The Network Rules state that you may only accept payments using payment cards for bona fide legal commercial transactions between you and your Customers for goods or services that are free of liens, claims, and encumbrances. You may only use payment network trademarks or service marks consistent with the Network Rules, and the Network Rules also limit your ability to discriminate by card type or charge surcharges for acceptance of payment cards. The Networks may amend the Network Rules at any time without notice to you, and Latipay reserves the right to change the Payment Processing Services at any time to comply with the Network Rules. We may share with the Networks (and the Payment Method Acquirer) information you provide to us that we use to identify the nature of your products or services, including the assignment of your business activities to a particular payment network merchant category code (MCC). Customers typically raise payment card network Disputes (also known as "chargebacks") when a merchant fails to provide the product or service to the Customer, or where the payment card account holder did not authorize the Charge. High Dispute rates (typically those exceeding 1%) may result in your inability to use the Payment Processing Services. Failure to timely and effectively manage Disputes with your Customers may ultimately result in your inability to accept payment cards for your business. When you accept payment card Transactions, Network Rules specifically prohibit you from (i) providing cash refunds for a Charge on a credit card, unless required by Laws, (ii) initiating a Refund more than five calendar days after issuing a credit to your Customer,
Appears in 1 contract
Sources: Latipay Services Agreement
Payment Cards. When accepting payment card payments, you must comply with all applicable Network Rules, including the Network Rules specified by the Visa Rules and Regulations Rules specified by Visa U.S.A., Inc. and Visa International ("“Visa"”), the Mastercard Rules specified by MasterCard International Incorporated ("“Mastercard"”), and the American Express Merchant Operating Guide specified by American Express, and the Discover Network Rules (please contact Discover for a copy) specified by Discover Financial Services, LLC (“Discover”). Collectively, Visa, Mastercard and Mastercard, American Express and Discover are referred to in this Agreement as the "“Networks"”. In addition certain Networks may require that you enter into a direct contractual relationship the Payment Method Acquirer Transactions processed through the applicable Network. ▇▇▇▇▇ Fargo Bank, N.A., is a Payment Method Acquirer for Visa, Mastercard and Discover Transactions, and your direct relationship with ▇▇▇▇▇ Fargo is established and becomes effective as described in the ▇▇▇▇▇ Fargo Financial Services Terms. BBVA USA is a Payment Method Acquirer for Visa and Mastercard Transactions, and your direct relationship with BBVA USA is established and becomes effective as described in the BBVA USA Financial Services Terms. The Network Rules state that you may only accept payments using payment cards for bona fide legal commercial transactions between you and your Customers for goods or services that are free of liens, claims, and encumbrances. You may only use payment network trademarks or service marks consistent with the Network Rules, and the Network Rules also limit your ability to discriminate by card type or charge surcharges for acceptance of payment cards. The Networks may amend the Network Rules at any time without notice to you, and Latipay Stripe reserves the right to change the Payment Processing Services at any time to comply with the Network Rules. We may share with the Networks (and the Payment Method Acquirer) information you provide to us that we use to identify the nature of your products or services, including the assignment of your business activities to a particular payment network merchant category code (MCC). Customers typically raise payment card network Disputes (also known as "“chargebacks"”) when a merchant fails to provide the product or service to the Customer, or where the payment card account holder did not authorize the Charge. High Dispute rates (typically those exceeding 1%) may result in your inability to use the Payment Processing Services. Failure to timely and effectively manage Disputes with your Customers may ultimately result in your inability to accept payment cards for your business. When you accept payment card Transactions, Network Rules specifically prohibit you from (i) providing cash refunds for a Charge on a credit card, unless required by Laws, (ii) initiating a Refund more than five calendar days after issuing a credit to your Customer,, (iii) accepting cash, its equivalent, or any other item of value for a Refund, (iv) acting as a payment facilitator, intermediary or aggregator, or otherwise reselling Payment Processing Services on behalf of others, (v) submitting what you believe or know to be a fraudulent Charge or a Charge that has not been authorized by the cardholder, (vi) submitting a Charge where the Transaction has not been completed or the goods or services have not been shipped or provided (except where the cardholder has paid a partial or full prepayment or the cardholder’s consent is obtained for a recurring transaction), (vii) splitting Transactions into multiple Charges unless certain criteria are met, or (vii) using Payment Processing Services in a manner that is an abuse of the payment card networks or a violation of the Network Rules. If you misuse the Payment Processing Services for payment card Transactions or engage in activity the Networks identify as damaging to their brand, or if we are required to do so by the Network Rules, we may submit information about you, Representatives, your beneficial owners and principals, and other individuals associated with your Stripe Account, to the MATCH terminated merchant listing maintained by Mastercard and accessed and updated by Visa and American Express, or to the Consortium Merchant Negative File maintained by Discover. Addition to one of these lists may result in your inability to accept payments from payment cards. You understand and consent to our sharing this information and to the listing itself, and you will fully reimburse us for any losses we incur from third-party claims, and you waive your rights to bring any direct claims against us that result from such reporting. Our reporting of information under this paragraph is separate from any other right that we may exercise under this Agreement, and we may separately terminate this Agreement or suspend your Stripe Account due to the misuse or damaging activity that caused us to make the report. If you engage a third party processor to create and deliver a payment card transaction directly to the payment card network, then you may be able to specify that the transaction will be cleared and settled by Stripe via our Payment Processing Services. If you intend to make use of this service with respect to the Stripe Payment Processing Services, you first must notify us. If you engage a third party to deliver this service, and you are permitted to designate Stripe in this manner, then you take the risk of the third party properly delivering the transaction to the payment card network. You understand and agree that Stripe will only clear and settle to you funds for transactions that are actually received by the payment card network. You further assume responsibility for any failure by such third party to comply with the applicable Network Rules.
Appears in 1 contract
Payment Cards. When accepting payment card payments, you must comply with all applicable Payment Method Rules and Network Rules, including the Network Rules specified by for the Visa Rules and Regulations Rules specified by Visa U.S.A., Inc. and Visa International ("Visa"), the Mastercard Rules specified by MasterCard International Incorporated ("Mastercard"), and the American Express Merchant Operating Guide specified by American Expressentities applicable in your jurisdiction. Collectively, Visa, Mastercard and American Express all other card schemes are referred to in this Agreement as the "Networks". The In addition, for payment card Transactions on Networks, the Network Rules state may require that you enter into a direct contractual relationship with the Payment Method Acquirer. You may only accept payments using payment cards for bona fide legal commercial transactions between you and your Customers for goods or services that are free of liens, claims, and encumbrancesencumbrances (in accordance with the Network Rules). You may only use payment network Network trademarks or service marks consistent with the Network Rules, and . You must also follow the limits in the Network Rules also limit on your ability to discriminate by card type or charge impose charges/surcharges for acceptance of payment cards. The Networks may amend the Network Rules at any time without notice to you, and Latipay Revolut reserves the right to change the Payment Processing Services at any time to comply with the Network RulesRules (and we shall notify you as soon as we become aware of such changes). We may share You hereby consent to us sharing with the Networks (and the Payment Method Acquirer) information you provide to us that we use to identify the nature of your products or services, including the assignment of your business activities to a particular payment network merchant category code (MCC). Customers typically raise If you misuse the Services for payment card network Disputes (also known Transactions or engage in activity the Networks identify as "chargebacks") when a merchant fails damaging to provide their brand, or if we are required to do so by the product or service Networks, we may submit information about you, your Delegates, your directors, your beneficial owners and principals, and other individuals associated with your Merchant Account, to the CustomerMember Alert to Control High-Risk Merchants (MATCH) Compliance Programme, Visa Merchant Alert System (VMAS) or where to the payment card account holder did not authorize the ChargeConsortium Merchant Negative File maintained by Discover. High Dispute rates (typically those exceeding 1%) Addition to one of these lists may result in your inability to use accept payments from payment cards. You understand and consent to our sharing this information and to the Payment Processing listing itself, and you will fully reimburse us for any losses we incur from third-party claims, and you waive your rights to bring any direct claims against us that result from such reporting. Our reporting of information under this paragraph is separate from any other right that we may exercise under this Agreement, and we may separately terminate this Agreement or suspend your Merchant Account due to the misuse or damaging activity that caused us to make the report. If you engage a third-party processor to create and deliver a payment card transaction directly to the payment card network, then you may be able to specify that the transaction will be cleared and settled by Revolut via our Services. Failure If you intend to timely make use of this service, you first must notify us. If you engage a third party to deliver this service, and effectively manage Disputes with your Customers may ultimately result you are permitted to designate Revolut in your inability this manner, then you take the risk of the third party properly delivering the transaction to accept payment cards for your business. When you accept the payment card Transactions, network. You understand and agree that Revolut will only clear and settle to you funds for Transactions that are actually received by the payment card network. You further assume responsibility for any failure by such third party to comply with the applicable Network Rules specifically prohibit you from (i) providing cash refunds for a Charge on a credit card, unless required by Laws, (ii) initiating a Refund more than five calendar days after issuing a credit to your Customer,Rules.
Appears in 1 contract
Payment Cards. When accepting payment card payments, you must comply with all applicable Network Rules, including the Network Rules specified by the Visa Rules and Regulations Rules specified by Visa U.S.A., Inc. and Visa International ("Visa"), the Mastercard Rules specified by MasterCard International Incorporated ("Mastercard"), and the American Express Merchant Operating Guide Agreement specified by American Express. Collectively, Visa, Mastercard and American Express are referred to in this Agreement as the "Networks". The Network Rules state that you may only accept payments using payment cards for bona fide legal commercial transactions between you and your Customers for goods or services that are free of liens, claims, and encumbrances. You may only use payment network trademarks or service marks consistent with the Network Rules, and the Network Rules also limit your ability to discriminate by card type or charge surcharges for acceptance of payment cards. The Networks may amend the Network Rules at any time without notice to you, and Latipay Stripe reserves the right to change the Payment Processing Services at any time to comply with the Network Rules. We may share with the Networks (and the Payment Method Acquirer) information you provide to us that we use to identify the nature of your products or services, including the assignment of your business activities to a particular payment network merchant category code (MCC). Customers typically raise payment card network Disputes (also known as "chargebacks") when a merchant fails to provide the product or service to the Customer, or where the payment card account holder did not authorize the Charge. High Dispute rates (typically those exceeding 1%) may result in your inability to use the Payment Processing Services. Failure to timely and effectively manage Disputes with your Customers may ultimately result in your inability to accept payment cards for your business. When you accept payment card Transactions, Network Rules specifically prohibit you from (i) providing cash refunds for a Charge on a credit card, unless required by Laws, (ii) initiating a Refund more than five calendar days after issuing a credit to your Customer,, (iii) accepting cash, its equivalent, or any other item of value for a Refund, (iv) acting as a payment facilitator, intermediary or aggregator, or otherwise reselling Payment Processing Services on behalf of others, (v) submitting what you believe or know to be a fraudulent Charge or a Charge that has not been authorized by the cardholder, (vi) submitting a Charge where the Transaction has not been completed or the goods or services have not been shipped or provided (except where the cardholder has paid a partial or full prepayment or the cardholder's consent is obtained for a recurring transaction), (vii) splitting Transactions into multiple Charges unless certain criteria are met, or (viii) using Payment Processing Services in a manner that is an abuse of the payment card networks or a violation of the Network Rules. If you misuse the Payment Processing Services for payment card Transactions or engage in activity the Networks identify as damaging to their brand, or if we are required to do so by the Network Rules, we may submit information about you, Representatives, your beneficial owners and principals, and other individuals associated with your Stripe Account, to the MATCH terminated merchant listing maintained by Mastercard and accessed and updated by Visa and American Express, or to the Consortium Merchant Negative File maintained by Discover. Addition to one of these lists may result in your inability to accept payments from payment cards. You understand and consent to our sharing this information and to the listing itself, and you will fully reimburse us for any losses we incur from third-party claims, and you waive your rights to bring any direct claims against us that result from such reporting. Our reporting of information under this paragraph is separate from any other right that we may exercise under this Agreement, and we may separately terminate this Agreement or suspend your Stripe Account due to the misuse or damaging activity that caused us to make the report. If you engage a third party processor to create and deliver a payment card transaction directly to the payment card network, then you may be able to specify that the transaction will be cleared and settled by Stripe via our Payment Processing Services. If you intend to make use of this service with respect to the Stripe Payment Processing Services, you first must notify us. If you engage a third party to deliver this service, and you are permitted to designate Stripe in this manner, then you take the risk of the third party properly delivering the transaction to the payment card network. You understand and agree that Stripe will only clear and settle to you funds for transactions that are actually received by the payment card network. You further assume responsibility for any failure by such third party to comply with the applicable Network Rules.
Appears in 1 contract
Sources: Stripe Services Agreement
Payment Cards. When accepting payment card payments, you must comply with all applicable Network Rules, including the Network Rules specified by the Visa Rules and Regulations Rules specified by Visa U.S.A., Inc. and Visa International ("Visa"), ) and the Mastercard Rules specified by MasterCard International Incorporated ("Mastercard"), and the American Express Merchant Operating Guide specified by American Express. Collectively, Visa, Visa and Mastercard and American Express are referred to in this Agreement as the "Networks". The Network Rules state In addition, for Visa and Mastercard Transactions, Visa and Mastercard may require that you enter into a direct contractual relationship with the Payment Method Acquirer for these types of Transactions, as described in the Financial Services Terms. You may only accept payments using payment cards for bona fide legal commercial transactions between you and your Customers for goods or services that are free of liens, claims, and encumbrancesencumbrances (in accordance with the Network Rules). You may only use payment network trademarks or service marks consistent with the Network Rules, and the Network Rules also limit your ability to discriminate by card type or charge charges/surcharges for acceptance of payment cards. The Networks may amend the Network Rules at any time without notice to you, and Latipay Revolut reserves the right to change the Payment Processing Services at any time to comply with the Network RulesRules (and we shall notify you as soon as we become aware of such changes). We may share You hereby consent to us sharing with the Networks (and the Payment Method Acquirer) information you provide to us that we use to identify the nature of your products or services, including the assignment of your business activities to a particular payment network merchant category code (MCC). Customers typically raise If you misuse the Services for payment card network Disputes (also known Transactions or engage in activity the Networks identify as "chargebacks") when a merchant fails damaging to provide their brand, or if we are required to do so by the product or service Network Rules, we may submit information about you, your Delegates, your directors, your beneficial owners and principals, and other individuals associated with your Merchant Account, to the CustomerMember Alert to Control High-Risk Merchants (MATCH) Compliance Programme, Visa Merchant Alert System (VMAS) or where to the payment card account holder did not authorize the ChargeConsortium Merchant Negative File maintained by Discover. High Dispute rates (typically those exceeding 1%) Addition to one of these lists may result in your inability to use accept payments from payment cards. You understand and consent to our sharing this information and to the Payment Processing listing itself, and you will fully reimburse us for any losses we incur from third-party claims, and you waive your rights to bring any direct claims against us that result from such reporting. Our reporting of information under this paragraph is separate from any other right that we may exercise under this Agreement, and we may separately terminate this Agreement or suspend your Merchant Account due to the misuse or damaging activity that caused us to make the report. If you engage a third-party processor to create and deliver a payment card transaction directly to the payment card network, then you may be able to specify that the transaction will be cleared and settled by Revolut via our Services. Failure If you intend to timely make use of this service, you first must notify us. If you engage a third party to deliver this service, and effectively manage Disputes with your Customers may ultimately result you are permitted to designate Revolut in your inability this manner, then you take the risk of the third party properly delivering the transaction to accept payment cards for your business. When you accept the payment card Transactions, network. You understand and agree that Revolut will only clear and settle to you funds for Transactions that are actually received by the payment card network. You further assume responsibility for any failure by such third party to comply with the applicable Network Rules specifically prohibit you from (i) providing cash refunds for a Charge on a credit card, unless required by Laws, (ii) initiating a Refund more than five calendar days after issuing a credit to your Customer,Rules.
Appears in 1 contract