Payment Organization definition

Payment Organization means the payment operator company selected by Samocat Rus which has entered into an appropriate agreement with it, which accepts payments from the Users for the rental of the Microtransport, keeps records in accordance with Federal Law No. 54-FZ dated May 22, 2003, “On the application of cash register equipment when making cash settlements and/or settlements involving the use of electronic payment instruments”, forwards a cash register receipt to the User via SMS messages or electronic mail, and then remits a consolidated payment to Samocat Rus.
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Payment Organization means the credit card associations, payment processors, payment providers, issuer banks, financial institutions, money transfer services, alternative payment platforms (such as PayPal and mobile payment services) and network organizations involved in authorizing and completing End-User payments within the Payment Solution for the purchase of Products.
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Examples of Payment Organization in a sentence

  • Any and all Instructions will be settled based on data obtained from the Payment Organization.

  • At the first request of the Payment Organization, provide the Payment Organization with any documentation and information related to the System Transfers sending, payment, refund and cancellation made by the Direct Member.

  • In case of expiration or early termination of this Agreement at the initiative of either Party, within 5 (five) banking days from the date of termination of this Agreement or written notice of termination of this Agreement, to make final settlements with the Payment Organization in accordance with the Rules..

  • To include in the Users information on the Direct Member operating his System Transfers activity data, having previously agreed in writing this information with the Payment Organization, not allowing disclosure of information that may mislead Users or damage the prestige of the Payment Organization.

  • When changing the business schedule of the Direct Member's Points, phone numbers, faxes, replacement of responsible executors, to notify the Payment Organization no later than 7 (seven) calendar days before such changes occur.

  • To ensure the safety of confidential information, technical documentation, information security tools, codes and passwords provided to him by the Payment Organization used in working with the System, as well as other information related to the activities of the Parties under this Agreement, including its commercial terms.

  • In the event of a third-party claim against the Payment Organization and/or the Processor on the grounds specified in the first paragraph of this Clause, the PO and/or the Processor undertakes to notify the Partner of the acceptance of such claim for proceedings and to file a petition in the preliminary first-instance court hearing for involving the Partner in the relevant case as a third party.

  • This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the Share Purchase.

  • If circumstances arise that temporarily prevent the continuation of the Transfers services provision in the existing Points of the Direct Member, on the day of their occurrence, to inform the Payment Organization about this with the definition of the period of temporary suspension and subsequent restoration of activities.

  • With respect to the information specified in Cl. 5.4. hereof, the Partner’s obligation to reimburse the Processor for the withheld amounts paid to the Payment Organization, the relations of the Parties shall continue for one hundred and eighty (180) days from the date of the Agreement termination.