Merchant Acquirer definition

Merchant Acquirer means any person that has entered into a Merchant Acquirer Agreement with you. Merchant Acquirer Agreement means any arrangement between you and another Merchant Acquirer for the acceptance and/or processing of Other Payment Products.

Merchant Acquirer means, for any applicable Covered Territory, an acquiring bank or financial institution authorised by one or more payment scheme owners to enable the use of a payment method by accepting transactions from merchants on behalf of the scheme owners, routing the transaction to the applicable scheme owner (or issuing bank, as applicable) and collecting and settling the resulting funds to the applicable merchant.

Merchant Acquirer means an acquiring bank or its designated processor who forwards the transaction information to the respective credit card associations for authorization, clearing, and settlement. The acquiring bank must remain fully liable for payment to the licensee if the designated processor fails to settle with the licensee.

Examples of Merchant Acquirer in a sentence

• A bypass alternative is available but is difficult or impacts customer operation (e.g. voice authorization may significantly slow the authorization process or routing of Foreign Transactions to Acquirer renders DCC unavailable to Merchant Acquirer).

• The Institution is responsible for adhering to all applicable card association rules and regulations with any Merchant Acquirer.

• Funds to cover an authorised Transaction will be paid by us to the Merchant Acquirer on the next business day after receipt of the relevant instruction where the Merchant Acquirer is located within the European Economic Area, otherwise the funds will be paid over as soon as reasonably practicable (subject to circumstances beyond our control).

• Merchant means an organization or entity that contracts with a Merchant Acquirer for accepting payment by means of payment card or any other electronic payment instrument.

• Act” means the Georgia Merchant Acquirer Limited Purpose Bank Act promulgated atO.C.G.A. § 7-9-1 et seq.

More Definitions of Merchant Acquirer

Merchant Acquirer means any Person that has entered into a Merchant Acquirer Agreement with you.

Merchant Acquirer means an organization affiliated with a bank licensed by card associations to enroll merchants and arrange for the necessary authorization and settlement of credit and debit card transactions.

Merchant Acquirer means any entity or person approved by us who has agreed to accept payments for Transactions processed through ANZ eGate™ and whose authorisation is required to facilitate an Approved Payment Method.

Merchant Acquirer means an entity that establishes a relationship with a merchant for the purposes of processing credit, debit, or prepaid transactions.

Merchant Acquirer means any person that has entered into a Merchant Acquirer Agreement with you. Payment Services Act means the Danish Act on Payment Services (Act no. 652 of 6 August 2017), which implements the Directive in Denmark and any replacement, amendment or revision thereof. Directive means Directive 2015/2366/EU of the European Parliament and of the Council of 25 November 2015 on the pol of payment services within the Single European Market and any replacement, amendment or revision thereof. You and your means the company, partnership, sole trader or other legal entity accepting Cards under this Agreement and its Affiliates conducting business in the same industry. Marks mean names, logos, domain names, service marks, trademarks, trade names, taglines, or other proprietary designations.

Merchant Acquirer means the person who, by agreement with the payee, processes a payment by card so that funds are transferred to the payee.

Merchant Acquirer means a financial institution that contract with a merchant to accept cards as a payment for goods or services.