Electronic Drafts definition
Electronic Drafts transaction data generated electronically in the Merchant’s system upon card payment authorization in the card payment network. Electronic drafts are the basis for settlement between the Bank and the Merchant. “Digital Wallet” – a software-based system that stores payment card tokens and allows accepting payments for e-commerce transactions and at POS terminals. Payments carried out by means of a digital wallet are subject to the same terms and conditions as card payments envisaged in the Agreement.
Electronic Drafts an electronic set of transaction datagenerated by the Payment System/Network in the online store’s system upon cDraafrts dare ptheaybamsisefnortssett.lemeEntlbeetwcetenrtohenBianck and the Merchant.