Payment Brands definition
Examples of Payment Brands in a sentence
For purposes of this Agreement “Security Standards” means all security protocols, advisories, standards and guidelines required by the Payment Brands.
Compensatory time off shall be earned and used as authorized in writing by the department head.
Even if you receive a valid authorization for a Conveyed Transaction, we will not be liable for errors in Settlement Account entries relating to the funding of your Conveyed Transactions, including delays caused by you, third parties, the Payment Brands or your bank.
For all Settled Transactions, we will process your Transaction Data to facilitate the funds transfer between the various Payment Brands and you.
In addition to and without limiting the requirement set forth in Exhibit C, Customer represents, warrants and covenants that Mercury Information Systems (as defined in Exhibit C) shall be compliant with (i) all applicable laws, rules, regulations and standards, and (ii) all applicable security requirements of the Payment Brands (as defined herein), including without limitation the Security Requirements.
Conveyed Transactions are Transactions that Merchant submits to Chase Paymentech, but which are then conveyed to one or more third parties or Payment Brands for settlement and funding directly by them to Merchant (e.g. American Express Transactions).
In order to prevent the occurrence of fraudulent transactions, T1 Payments may impose reasonable limits on the amount or number of purchases that may be charged to an individual Cardholder account during any time period, or refuse to accept orders from Cardholders with a prior history of Chargebacks, fraudulent transactions or other activity that is prohibited by banks or the Payment Brands, or other questionable charges as determined in T1 Payments’ sole and absolute discretion.
Paymentech will not otherwise disclose or use such information other than (a) as necessary to process Merchant’s Transactions or otherwise provide services and maintain Merchant’s account pursuant to this Agreement; (b) to detect, prevent, reduce, or otherwise address fraud, security, or technical issues; (c) to enhance or improve Paymentech’s products and services generally; or (d) as required or permitted by the Payment Brands or applicable law.
Chase Paymentech will not be liable for any delays in receipt of funds or errors in Settlement Account entries caused by third parties, including, without limitation, delays or errors by the Payment Brands or Merchant’s bank.
Merchant shall be responsible for paying any and all Penalties assessed by the Payment Brands a n d a p p l i c a b l e b a n k against T1 Payments related to Merchant’s activities or the processing of Merchant’s Card transactions, plus 20% of such Penalties as an administrative fee in communicating with the Payment Brands and managing the delivery of documents and other information related to the Merchant as may be requested by the Payment Brands.