Common use of Payment Transaction Processing Clause in Contracts

Payment Transaction Processing. The Service facilitates the processing of Payment Transactions to complete a payment for a purchase between you and a Merchant. The service will store information from you, such as your Payment Instruments and shipping information, and will process Payment Transactions on behalf of Merchants through the appropriate payment gateway network. You authorize Bank to charge or debit your payment instruments to complete processing of a Payment Transaction. You also authorize the crediting to your Payment instrument in connection with reversals, refunds, or adjustments through the Service. You acknowledge and agree that your purchases of Products are transactions between you and the Merchant and not with the Bank. Bank is not a party to your purchase of Product/services, and Bank is not a buyer or a Merchant in connection with any Payment Transaction. You agree that as all the transactions in M-Commerce is instantaneous in nature and will be acted upon by Bank immediately on receipt of necessary instructions from me over my mobile phone, no stop-payment instructions from me could be accepted and acted upon by Bank.

Payment Transaction Processing. The Service facilitates the processing of Payment Transactions to complete a payment for a purchase between you and a Merchant. The service will store information from you, such as your Payment Instruments and shipping information, and will process Payment Transactions on behalf of Merchants through the appropriate payment gateway network. You authorize Bank to charge or debit your payment instruments to complete processing of a Payment Transaction. You also authorize the crediting to your Payment instrument in connection with reversals, refunds, or adjustments through the Service. You acknowledge and agree that your purchases of Products are transactions between you and the Merchant and not with the Bank. Bank is not a party to your purchase of Product/services, and Bank is not a buyer or a Merchant in connection with any Payment Transaction. You agree that as all the transactions in M-Commerce is instantaneous in nature and will be acted upon by Bank immediately on receipt of necessary instructions from me over my mobile phone, no stop-stop- payment instructions from me could be accepted and acted upon by Bank.