Payment instrument definition

Payment instrument means any personalised device(s) and/or set of procedures agreed between the payment service user and the payment service provider and used in order to initiate a payment order;
Payment instrument means a check, draft, money order, traveler’s check, or other instrument for the transmission or payment of money or monetary value, whether or not negotiable. The term does not include a credit card voucher, letter of credit, or instrument that is redeemable by the issuer in goods or services.
Payment instrument means any electronic or written check, draft, money order, travelers check, or other wire, electronic, or written instrument or order for the transmission or payment of money, sold or issued to 1 or more persons, whether or not the instrument is negotiable. The term includes any closed-loop prepaid access or prepaid access device or vehicle. The term does not include any credit card voucher, letter of credit, or tangible object redeemable by the issuer in goods or services.

Examples of Payment instrument in a sentence

  • Provided that State Bank may, in appropriate cases, without notice direct a Person to immediately stop issuing a Payment Instrument, pending the final order.


More Definitions of Payment instrument

Payment instrument means a card, number, code, electronic profile or other thing personal to you that we give you to allow you make a payment transaction on your Account.
Payment instrument means any cheque, traveler’s cheque, demand draft, cashier’s order, money order, postal order or other similar instrument.
Payment instrument means any instrument, whether tangible or intangible, that enables a person to obtain money, goods or services or to make any payment;
Payment instrument means a check, draft, money order, traveler's check or other instrument or order for the transmission or payment of money sold to one or more persons whether or not that instrument or order is negotiable. Payment instrument does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher or a letter of credit.
Payment instrument means a check, draft, money order,
Payment instrument means a check, draft, warrant, money order, traveler’s check, electronic instrument, or other instrument, payment of funds, or monetary value (other than currency).
Payment instrument means a payment instrument as defined in Article 4(23) of Directive 2007/64/EC;