Electronic Commerce Transaction definition

Electronic Commerce Transaction means a transaction between a Merchant and a Third-Party Payment Provider User over a network using a telephone, any mobile device, terminal, personal computer or other device to initiate such a transaction;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Electronic Commerce Transaction means a Transaction that occurs when the Cardholder uses the Internet to make a purchase from a Company.

Electronic Commerce Transaction. (“ECT”) means a Card transaction that occurs on the Internet, as further described in Section 7.

Examples of Electronic Commerce Transaction in a sentence

• Each Electronic Commerce Transaction must be identified as such when submitted by Merchant by using the appropriate Electronic Commerce Transaction indicator values specified by the Card Networks.

• Merchant may not submit a request for Authorization for an Electronic Commerce Transaction that has failed a 3-D Secure authentication request.

• Merchant cannot refuse to complete an Electronic Commerce Transaction using a MasterCard-branded Card solely because the Cardholder does not have a digital certificate or other secured protocol.

• Merchant may not submit a request for Authorization for an Electronic Commerce Transaction that has failed a 3‐D Secure authentication request.

• Merchant cannot refuse to complete an Electronic Commerce Transaction using a MasterCard‐branded Card solely because the Cardholder does not have a digital certificate or other secured protocol.

• Each Electronic Commerce Transaction must be identified as such when submitted by Merchant by using the appropriate Electronic Commerce Transaction indicator values specified by the Card Associations.

• Merchant may not submit a request for Authorization for an Electronic Commerce Transaction that has failed a 3- D Secure authentication request.

• Data indicating a Merchant Outlet’s country must be transmitted in the Clearing Record of an Electronic Commerce Transaction, as specified in VisaNet Clearing Message Content Standards (Exhibit NN of the Visa USA Rules).

• If a recurring transaction Order Form is provided to the Merchant in an electronic format, the initial Transaction must be processed with the appropriate Electronic Commerce Transaction indicator values.

• The Merchant agrees not to accept cash or any other consideration from a Cardholder in return for preparing a credit receipt to be deposited to the Cardholder’s account, nor to give cash refunds to Cardholders in connection with an Electronic Commerce Transaction.

More Definitions of Electronic Commerce Transaction

Electronic Commerce Transaction. Means a transaction between the Merchant and the Cardholder in which a Card is used for payment of goods or services over the internet or via other authorized means, or a refund or any other permitted transaction which is evidenced by a Sales Record; Example Code: Means un-compiled software code or code fragments illustrating the use of the systems provided to the Merchant; Fees: Any charges to the Merchant for the services provided by the Service Provider as agreed on between the Service Provider and the Merchant; Fines: Any amount imposed on the Service Provider for excessive chargebacks or breach of Card Association rules by the acquiring Bank or a Card Association as a result of the Merchant activities; Financial Guarantee: Means a Guarantee provided by the Merchant to enhance/ supplement/ replace the Rolling Reserve Amount required by the Service Provider.

Electronic Commerce Transaction. Means a transaction between the Merchant and the Cardholder in which a Card is used for payment of goods or services over the internet or via other authorized means, or a refund or any other permitted transaction which is evidenced by a Sales Record; Example Code: Means un-compiled software code or code fragments illustrating the use of the systems provided to the Merchant;