Merchant Refund definition
Merchant Refund means a refund by a Merchant through the System to a Cardholder of all or some of the money received by that Merchant from that Cardholder for payment of goods or services which has previously been effected by virtue of a Valid Transaction.
Merchant Refund means a refund by a Merchant through the System to a Cardholder of all or some of the money received by that Merchant from that Cardholder for payment of goods or services which has previously been effected by virtue of a Valid Transaction. mPOS means mobile payment application within a mobile device (smartphone, tablet, PDA’s) that connects to a Terminal via the audio/USB port or Bluetooth, as offered by Bank to the Merchant in conjunction with a Merchant Account.