Recurring Transaction definition

Recurring Transaction means a regular payment collected from your Card by an originator, in line with your instruction.
Recurring Transaction means a repetitive periodic Transaction for which you charge the Buyer’s Card or Alternative Payment Method account (eg, subscriptions or instalments);
Recurring Transaction means a Transaction which the Cardholder has agreed can be debited to their Cardholder’s account at agreed intervals or on agreed dates. The Transaction can be for a specific amount or for an amount due to Merchant for an ongoing service or provision of goods.

Examples of Recurring Transaction in a sentence

  • For the avoidance of doubt, the Merchant must not store prohibited Cardholder data including magnetic stripe data (track data), EMV data (chip data) and the CVV2 after a transaction is complete and must immediately destroy this information in one of the manners set out in Condition 31.1(xii) after processing a non-Recurring Transaction or after processing the initial Recurring Transaction.

  • After processing the initial Recurring Transaction, the Merchant must destroy the CVV2 in one of the manners set out in Condition 31.

  • Where applicable, the Merchant must ensure the Nominated Card has a current validity date and that the CVV2 is provided when processing the first Recurring Transaction against that Nominated Card.


More Definitions of Recurring Transaction

Recurring Transaction means an agreement between you and a supplier that allows the supplier to ask us to make payments to them from your Card Account on a regular basis.
Recurring Transaction means a Transaction authorised by a customer to be processed at periodic intervals, for example, weekly, monthly, annually, until it expires or is cancelled.
Recurring Transaction means a regular payment (other than a direct debit or standing order) collected from your account by a third party e.g. magazine and television subscriptions.
Recurring Transaction means multiple Transactions processed at predetermined intervals not to exceed one year between Transactions, representing an agreement between you and a Cardholder to purchase goods or services over a period of time;
Recurring Transaction means a regular transaction on your Account that you have authorised a Merchant or third party to make by providing your Card Details.
Recurring Transaction means a card transaction where a cardholder authorises you to debit their account on a periodic, recurring basis. refund means a refund you make to the cardholder regarding a card transaction, which will fully or partly reverse it.
Recurring Transaction means Transactions which have been pre-authorized by the Cardholder and for which the goods or services are to be delivered or performed in the future by Merchant without having to obtain approval from the Cardholder each time.