M/Chip definition
Examples of M/Chip in a sentence
For avoidance of doubt, M/Chip Cards are Credit Cards as defined in the Agreement and references to Credit Cards shall include M/Chip Cards.
Pursuant to Section 2.1(d) of the Agreement, VS represents that it has completed the necessary upgrade of its POS systems to accept EMV-enabled Credit Cards with an embedded microchip in order to support a conversion of the Credit Cards to M/Chip Cards.
VS shall have the right, in its sole and absolute discretion, to refuse any proposed use of its Trademarks in or on any M/Chip Card, M/Chip Card image, Enabled Wallet, promotional or marketing materials or otherwise; provided, however, that no reasonable use consistent with this Second Amendment as required for providing the Digitization Enablement Services, as stated in Section 6.1 above, will be refused.
Notwithstanding anything to the contrary in this Second Amendment, M/Chip Cards will be enabled for provisioning into only those digital wallets approved by Bank and VS in writing.
Notwithstanding Sections 12.4 and 12.5 of the Operating Procedures, provided that Credit Cards are EMV chip-enabled, Bank will not charge Company back for the following reasons when an EMV chip-enabled Credit Card is properly inserted in-store at POS to process the transaction or when an M/Chip Card is properly used via an Enabled Wallet either in-store at POS or on any VS website or mobile application: [****].
This Second Amendment shall be effective as of the Effective Date and shall terminate on the earlier of: (i) the termination of the Agreement, or (ii) the termination of the Mastercard M/Chip Technology Licensing & Digital Technology and Services Agreement for Private Label Issuers between Mastercard and Bank, dated [****] (the “M/Chip Agreement”) which has an initial term of [****] calendar years.