Reversed Payment definition

Reversed Payment an Inward Payment to the extent that it is fully or partially returned by an Alternative Payment Provider or a bank associated with the Inward Payment or to the extent that any Regulatory Authority requires the return of an Inward Payment, resulting in a financial liability to Worldpay which may include any circumstances where any of the foregoing persons either:
View Source
Reversed Payment means a transfer of funds from a Client to the Consolidated Account, whether effected by wire transfer, electronic funds transfer or otherwise, fails or would fail to be completed for any reason, including as a result of insufficient funds, a stop payment order, or a reversal, return or rejection of an order or request to transfer funds through an ACH operator.
View Source
Reversed Payment means an Inward Payment to the extent that it is fully or partially returned by an Alternative Payment Provider or a bank associated with the Inward Payment, or to the extent that any Regulatory Authority requires return of an Inward Payment, resulting in a financial liability to Citcon.
View Source

Examples of Reversed Payment in a sentence

  • SynapsePay has sole discretion to determine who is at fault and liable for the Reversed Payment and Reversal Fee.

  • Upon its occurrence, each Assessment and Reversed Payment represents a debt immediately due and payable by Merchant to Citcon on demand, notwithstanding any termination of this Agreement or the Alternative Acquiring Services.

  • Citcon will not be required to investigate or defend the validity and/or value of any Assessment or Reversed Payment either before or following any such final determination by an Alternative Payment Provider.

  • If Merchant wishes to dispute an Assessment or Reversed Payment, Merchant will do so in accordance with the applicable Legal Requirement and will provide Citcon with such evidence as Citcon or the applicable Alternative Payment Provider may reasonably require to investigate the disputed Assessment or Reversed Payment.

  • Each Assessment and Reversed Payment will be charged to Merchant in the currency in which Citcon is required to pay the Assessment or Reversed Payment.

  • It is Client's responsibility in the case of a disputed Chargeback, Assessment or Reversed Payment, to provide to Xplor such evidence as Xplor, the Acquirer, the Card Scheme, the Card Issuer, any Other Payment Service provider, any Direct Debit Scheme or bank may reasonably require to investigate the disputed Chargeback, Assessment or Reversed Payment.

  • Without prejudice and in addition to any other rights and remedies available to Citcon under the Agreement, Merchant hereby indemnifies (and will keep indemnified) on demand, defends and holds harmless Citcon from and against any losses Citcon suffers or incurs as a result of, or in connection with any Transaction, Payment, Assessment and/or Reversed Payment.


More Definitions of Reversed Payment

Reversed Payment means any payment that for any reason is refunded, reversed, withdrawn, or refused in the name of Magnum or the Merchant or the User and however initiated be it by a customer, user, bank, other institution, card scheme, financial or regulatory body, the User, the Merchant or Magnum;
View Source