IPP Transaction definition
IPP Transaction means any payment to be made to the Merchant by an Eligible Cardholder in respect of any goods and/or services sold, provided or offered by the Merchant or any fees or charges of the Merchant, effected by the use of a Designated Card issued to the Eligible Cardholder or through a Payment Instruction made by the Eligible Cardholder, and the settlement of which as between the Eligible Cardholder and the Bank shall be by way of such number of monthly instalments as may be agreed by the Bank.