Merchant Settlement Amount definition

Merchant Settlement Amount means the amount payable to a Merchant in respect of a Transaction pursuant to the merchant services agreement between the Merchant and Acquirer, plus an amount equal to the amounts deducted by the Acquirer pursuant to the merchant services agreement, for the processing of such Transaction as reported to Acquirer by Planet Payment pursuant to this Agreement. (Which amounts deducted shall include for this purpose all Interchange and assessments charged by the Card Association, with respect to such Transaction, whether or not separately billed to the Merchant). The Merchant Settlement Amount will equal the Purchase Amount in a Foreign Transaction. (mm) Multi-Currency Processing shall mean the processing of Foreign Transactions.
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Merchant Settlement Amount means the amount of money payable by Nuvei to Merchant in accordance with this Agreement after deduction of any amounts for (1) fees, (2) transactions reversed by Receiver, including chargebacks; (3) ineligible, fraudulent or illegal transactions or transactions otherwise prohibited by this Agreement; (4) transactions alleged by a Receiver to have been performed without their consent; (5) transactions disputed by a Receiver because the Merchant service was not received or was returned, rejected or defective; (6) Receiver refunds initiated either by Merchant, Nuvei or payment service provider; or (7) the failure of Merchant to perform any obligation in connection with the Merchant services.
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Examples of Merchant Settlement Amount in a sentence

  • The Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses.

  • If Acquirer’s agreement with Acquirer Merchant for DCC services so provides, Acquirer Merchant shall solely bear the amount of such Interchange Differential incurred for DCC Transactions presented to Planet Payment, and the Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Interchange Differential.

  • To the extent that the amount of a Chargeback attributable to a Transaction processed under the Program exceeds or is less than the Merchant Settlement Amount in respect of such Transaction (less interchange, assessments and such other fees as the Acquirer applies) the Merchant will be responsible for such excess amount, unless Planet Payment and the Acquirer agree otherwise.

  • For Visa chargebacks, the Acquirer Settlement Amount and Merchant Settlement Amount will be shown in the settlement currency of the BIN.

  • For MasterCard Chargebacks the Acquirer Settlement Amount and Merchant Settlement Amount will be shown in USD.

  • To the extent that the amount of a Refund attributable to a Transaction processed under the Program exceeds or is less than the Merchant Settlement Amount in respect of such Transaction (less interchange, assessments and such other fees as the Acquirer applies) the Merchant will be responsible for such excess amount, unless Planet Payment and the Acquirer agree otherwise.

  • Planet Payment reports and data files shall include the Cardholder Settlement Amount, the Acquirer Settlement Amount and the Merchant Settlement Amount.

  • The chargeback and retrieval report shall include the amount of the chargeback in the currency as reported by the relevant Card Association but other Planet Payment reports shall include the Cardholder Settlement Amount, the Acquirer Settlement Amount and the Merchant Settlement Amount relating to the original Transaction.

  • Planet Payment will provide to Acquirer payment information files on each calendar day for all Transactions authorized and cleared through Planet Payment Platform in accordance with the Timing Chart attached to Appendix II including the Merchant Settlement Amount for each Transaction in the Merchant’s Local Currency.

  • Merchant shall solely bear the amount of such Interchange Differential incurred for DCC Transactions presented to Planet Payment, and the Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Interchange Differential.