Merchant Initiated Transaction definition

Merchant Initiated Transaction means a Transaction you initiate according to a mandate you receive from the Customer that authorises you to initiate (a) that Transaction; or (b) a series of Transactions without requiring the Customer to take any further action.
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Merchant Initiated Transaction means a Charge initiated by you: (i) in respect of your provision of products or services to your Customer; and (ii) in accordance with a mandate from your Customer authorising you to initiate the Charge or a series of Charges and without requiring any specific action of the Customer to trigger the initiation of the Charge.
Sample 1Sample 2Sample 3
Merchant Initiated Transaction means a Charge initiated by you: in respect of your provision of products or services to your Customer; in accordance with a mandate from your Customer authorising you to initiate the Charge or a series of Charges and without requiring any specific action of the Customer to trigger the initiation of the Charge.
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Examples of Merchant Initiated Transaction in a sentence

  • To the extent that you submit a Transaction as a MOTO Transaction or a Merchant Initiated Transaction, you must (a) determine that the Transaction is eligible to be treated either as a MOTO Transaction or Merchant Initiated Transaction (as applicable); and (b) record the basis on which you made this determination and provide this record to Stripe upon request.

  • For each Merchant Initiated Transaction, you must have an appropriate mandate that complies with Law in place with the Customer that authorises you to initiate that Transaction.

  • This is an example of when an industry practice Merchant Initiated Transaction does not require a stored credential Note: For compatibility with existing practices, Instalment Payments and Recurring Payments MITs use Continuous Authority (CA) type transactions while other MITs Mail Order/Telephone Order (MOTO) type transactions.

  • The Gateway does not currently support incremental authorisations.A Merchant Initiated Transaction is one whose action field is one of PREAUTH, SALE orVERIFY and whose type is one of 2 (MOTO) or 9 (CA) depending on the category.

  • Not every industry practice Merchant Initiated Transaction requires a stored credential, for example, if you store card details for a single transaction or a single purchase, it is not considered as a stored credential transaction.

  • The xref of the initial Consumer Initiated Transaction, or previous Merchant Initiated Transaction must be provided as follows: • For standing order MITs the initial authorisation must have been a successful Consumer Initiated Transaction with Credentials on File.

  • Merchant Initiated Transaction (MIT) PaymentsMIT's are token-based payments governed by an agreement between the cardholder and merchant that, once set up, allows the merchant to initiate subsequent payments from the card without any direct involvement of the cardholder.

  • Note: This function only works with Magento logged in users• Initiated transaction type when using save credit card function:- CIT (Customer Initiated Transaction): User will be redirected to a payment window with auto filled credit card information.Then redirected to success page.- MIT (Merchant Initiated Transaction): Creates payment directly in Reepay.

  • If a public hearing is requested it shall be conducted pursuant to procedures prescribed by the Chief of Engineers.

  • Acquirers are not sending valid trace IDsWhen it comes to the handling of (initial) recurring or Merchant Initiated Transaction (MIT) authorisations, many acquirers are still not ready with the relevant SCA setup in the authorisation message.


More Definitions of Merchant Initiated Transaction

Merchant Initiated Transaction means a debit initiated by you with respect to your provision of products or services to your customer, pursuant to a mandate from your customer authorizing you to initiate the debit or series of debits, without requiring any specific action by the customer to initiate the debit.
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Related to Merchant Initiated Transaction

  • Designated Transaction means a Transaction which fulfils the following requirements:

  • Automated transaction means a transaction conducted or performed, in whole or in part, by electronic means or electronic records, in which the acts or records of one or both parties are not reviewed by an individual in the ordinary course in forming a contract, performing under an existing contract, or fulfilling an obligation required by the transaction.

  • Suspicious transaction means a “transaction” as defined below, including an attempted transaction, whether or not made in cash, which, to a person acting in good faith:

  • Terminated Transactions means with respect to any Early Termination Date (a) if resulting from a Termination Event, all Affected Transactions and (b) if resulting from an Event of Default, all Transactions (in either case) in effect immediately before the effectiveness of the notice designating that Early Termination Date (or, if "Automatic Early Termination" applies, immediately before that Early Termination Date).

  • Related Transactions means the initial borrowing under the Revolving Loan on the Closing Date, the Refinancing, the payment of all fees, costs and expenses associated with all of the foregoing and the execution and delivery of all of the Related Transactions Documents.

  • Coordinated Transaction Scheduling or “CTS” shall mean the market rules that allow transactions to be scheduled based on a bidder’s willingness to purchase energy from a source in either the NYISO or PJM Control Area and sell it at a sink in the other Control Area if the forecasted price at the sink minus the forecasted price at the corresponding source is greater than or equal to the dollar value specified in the bid.

  • Contactless Transaction means a Transaction that is authorised by you touching or holding your Card or linked device against or near a POS Terminal without the need to insert your Card.

  • Terminated Transaction means the Transaction terminated in accordance with Section 5.2 of this Agreement.

  • Export Transactions Net Activity means the aggregate net total, resulting from Export Transactions, of (i) Spot Market Energy charges, (ii) Transmission Congestion Charges, and (iii) Transmission Loss Charges, calculated as set forth in Operating Agreement, Schedule 1 and the parallel provisions of Tariff, Attachment K-Appendix. Export Transactions Net Activity may be positive or negative. Extended Primary Reserve Requirement:

  • Online Transaction means any Phone/Electronic Transaction requested through an Electronic Transmission over the Internet.

  • Restricted Transaction means any of the following transactions or transmit- tals involving any credit, funds, instru- ment, or proceeds that the Act pro- hibits any person engaged in the busi- ness of betting or wagering (which does not include the activities of a financial transaction provider, or any inter- active computer service or tele- communications service) from know- ingly accepting, in connection with the participation of another person in un- lawful Internet gambling—

  • Bundled transaction means the purchase of 2 or more distinct and identifiable products, except real property and services to real property, where the products are sold for a single nonitemized price. A bundled transaction does not include the sale of any products in which the sales price varies, or is negotiable, based on the selection by the purchaser of the products included in the transaction. As used in this subdivision:

  • Completed Transaction means two counter deals of the same size (opening a position and closing a position): buy then sell and vice versa.

  • Commercial cannabis activity means the production, cultivation,

  • Separation Transaction means the sale or separation of the non-television business of the Holding Company in whole or in part, whether by asset sale or otherwise.

  • Exempted Transaction means a securities transaction listed in Section D.2. The purchase or sale of a security through an Exempted Transaction generally IS exempted from the prohibition on purchases in Section D.1., and the sale pre-approval requirements in Section D.3., UNLESS otherwise noted in Section VI. An Exempted Transaction generally IS NOT exempted from the general conduct guidelines in Section C, or the reporting requirements in Section E.1.

  • Pawn transaction means the same as that term is defined in Section 13-32a-102.

  • Termination Transaction has the meaning set forth in Section 11.2.B hereof.

  • Competing Transaction has the meaning set forth in Section 6.1(n).

  • Manufactured-home transaction means a secured transaction:

  • Permitted Transaction means any transaction involving (i) a Swap that is not a Required Transaction or (ii) a Required Transaction that is a component of a Covered Package Transaction.

  • Card Transaction means any purchase of goods and/or services or any transfer or cash advances effected by the use of a Card;

  • Permitted Transactions has the meaning set forth in Section 13(B).

  • Separation Transactions has the meaning set forth in the Separation and Distribution Agreement.

  • Sole source procurement means a procurement without competition pursuant to a determination under Subsection 63G-6a-802(1)(a) that there is only one source for the procurement item.

  • Formation Transactions means the transactions contemplated by this Agreement and the other Formation Transaction Documentation.