Payment Token definition

Payment Token means a substitute credential used in place of a PAN in an Electronic Debit Transaction.
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Payment Token means a token, which is the digital representation of value and may be used as a means of payment or as consideration for the provision of goods or services, which is not issued under the authority of a central state authority, and which does not give rise to a claim on the issuer, if any, or possess legal status of currency or money.
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Payment Token means any electronic payment instrument provided by an issuer to initiate a payment transaction.
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Examples of Payment Token in a sentence

  • The Exchange disclaims all liability for any errors, delays or omissions in the Channels or in relation to the Channels, any Security Token and/or Digital Payment Token, or for any action taken in reliance thereon.

  • FOMO Pay is the holder of one of the first ‘‘Major Payment Institution Licenses’’ issued by The Monetary Authority of Singapore (MAS), as well as among the first holders of ‘‘Digital Payment Token Service’’ licenses issued by MAS, which enabled it to provide digital payment token services in relation to, among others, central bank digital currencies and virtual currencies.

  • FintruX is not licensed (or exempt) by the Monetary Authority of Singapore to provide Digital Payment Token (“DPT”) services under the Payment Services Act 2019 of Singapore (the “PS Act”).