Multi-Pay Token definition
Multi-Pay Token means the option to support businesses that need to submit a financial transaction in a card-not-present situation. These tokens are unique to each merchant that uses them and are stored in place of the primary account number (PAN). With these tokens, merchants can initiate new or recurring payments within their own environment instead of using the original card number.
Multi-Pay Token means the option to support businesses that need to submit a financial transaction in a card-not-present situation. These tokens are unique to each merchant that uses them and are stored in place of the primary account number (PAN). With these tokens, merchants can initiate new or recurring payments within their own environment instead of using the original card number. Multi-Pay Token allows a Token Registration process a non- financial transaction to request a token to be placed in their payment page or “e-wallet” for future or recurring payments. It is common for eCommerce merchants to ask their customers to register by providing profile information such as name, address, and phone number to the merchant website before or upon checkout.
Multi-Pay Token means your specific alpha-numeric value that is: (i) randomly generated when a Card number is requested to be registered by you as your specific Token upon receipt of Cardholder approval to register the Card number; (ii) becomes associated with you and the Card within Processor and its Affiliates’ systems; (iii) can be stored by you in your systems in lieu of the Card number to represent the Card number; (iv) can be used to initiate authorization processing for Cardholder-initiated or recurring payments; (v) may be retrieved by Processor or its Affiliates within their systems in connection with processing future transactions involving the same Card number or registered Token when submitted by you for authorization processing; and (vi) is returned to you from Processor or its Affiliates’ systems as part of the Register PAN Response and/or authorization response.
Examples of Multi-Pay Token in a sentence
STMS will then generate a Token or retrieve a Multi-Pay Token assigned to the Card number and return the Token or Multi-Pay Token to PARTICIPANT in the authorization response.
Clover will then generate a Token or retrieve a Multi-Pay Token assigned to the Card number, as applicable, and return the Token or Multi-Pay Token to the Company in the authorization response.
Subject to the terms of this Schedule, STMS warrants that the Token or Multi-Pay Token, as applicable, returned to PARTICIPANT as a result of using the TransArmor Service cannot be used to initiate a financial sale transaction by an unauthorized entity or person outside the PARTICIPANT Systems.
More Definitions of Multi-Pay Token
Multi-Pay Token means a Token that provides the option to support businesses that need to submit Card not present transactions that are sales or on a recurring basis. These Tokens are unique to each merchant that uses them and are stored in place of the PAN. With these Tokens, merchants can initiate new or recurring payments within their own environment instead of using the PAN for the related Card. A Multi- Pay Token can be obtained following a request for Authorization or a Token Registration or through Legacy Data Conversion and can be placed within the Merchant System, including a merchant's payment page or “e-wallet,” for use with future or recurring payments. It is common for ecommerce merchants to ask their Cardholders to register by providing profile information, such as name, address, and phone number, to the merchant website before or upon checkout.
Multi-Pay Token means Customer’s specific alpha-numeric value that is: (i) randomly generated when a Card number is requested to be registered by Customer as Customer’s specific Token upon receipt of Cardholder approval to register the Card number; (ii) becomes associated with Customer and the Card within Processor and its Affiliates’ systems; (iii) can be stored by Customer in Customer’s systems in lieu of the Card number to represent the Card number; (iv) can be used to initiate authorization processing for Cardholder-initiated or recurring payments; (v) may be retrieved by Processor or its Affiliates within their systems in connection with processing future transactions involving the same Card number or registered Token when submitted by Customer for authorization processing; and (vi) is returned to Customer from Processor or its Affiliates’ systems as part of the Register PAN Response and/or authorization response.