PAYMENT PROCESSING TERMS Clause Samples

PAYMENT PROCESSING TERMS. 2.1 Persolvent is a Payment Service Provider/Payment Facilitator. Persolvent is registered with Visa, MasterCard, Discover, & American Express and provides all payment processing services to Customer pursuant to this Agreement. 2.2 The accepted payment processing types under this Agreement are: Visa, MasterCard, Discover, & American Express (“Card Associations”); and eCheck (ACH). Persolvent may agree to allow Customer to use a payment processing type not listed here; but only if Customer requests consent from Persolvent before processing a transaction using a payment type not listed. Persolvent may withhold consent for any reason, in its discretion. 2.3 Customer must process payments in accordance with the Card Associations’ rules. Violation of Card Association rules will subject Customer to immediate termination of this Agreement. For complete Card Association rules, visit each Card Association’s website (example: ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇). 2.4 Customer is required to maintain compliance with Payment Card Industry – Data Security Standards (“PCI- DSS”). These standards are available at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Customer agrees to cooperate with Persolvent to support Persolvent’s PCI-DSS compliance requirements, including requests to sign documentation related to PCI-DSS compliance. Customers who process card-present (swipe) or key entered (by staff) transactions may be subject to additional PCI-DSS requirements. 2.5 Customer and end user payments by eCheck (ACH) are facilitated by Vericheck, Inc. ▇▇▇▇▇▇▇▇▇ works with Customer/end user’s bank (ODFI), to perform authorization and processing services. This takes place through Persolvent’s payment processing systems; and all settlement and deposit functions to Customer are facilitated and managed directly by Persolvent. Customer authorizes Persolvent to act in this capacity and take reasonable actions DocuSign Envelope ID: 7E763D89-5D54-4BE9-8E00-30480A03D1DD on behalf of Customer to perform these actions on behalf of ▇▇▇▇▇▇▇▇. 2.6 Customer agrees to pay a $25 penalty for each returned ACH fee or other failed attempt to credit or debit Customer’s Banking Information if Customer provides incorrect banking information or for incorrect setup in Customer’s bank accounts. 2.7 Customer agrees to not use any 3rd party products for payment processing in association with this Agreement without Persolvent’s prior written consent. Customer also agrees to notify Persolvent of any changes to the products and/or se...