Split Sale definition
Split Sale means the process by which a Merchant split a single sale into more than one transaction to avoid authorization limits. “TransactionSlip (s)” means any of the following:
Split Sale means a transaction where in an attempt to avoid authorization, the Merchant splits a single day’s transaction into two or more Sales Drafts bearing the same date or different dates, each of which is below the Authorized Floor Limit but when added together exceeds the Authorized Floor Limit;
Split Sale means the preparation of two or more Sales Slips for the single Transaction on one account in order to avoid Authorisation.
Examples of Split Sale in a sentence
The amount to be charged by any Cardholder shall not exceed the Authorization Floor Limit and in this connection, no Split Sale shall be allowed.
For this purpose, a Split Sale refers to an intentional act of dividing a single transaction into multiple transactions that would generate multiple charge slips.
For this purpose a Split Sale refers to an intentional act of dividing a single transaction into multiple transactions that would generate multiple charge slips.
For this purpose a Split Sale refers to an intentional act of dividing a merchant installment transaction into multiple charge slips.
More Definitions of Split Sale
Split Sale means a transaction where in an attempt to avoid authorization, the Merchant splits a single day’s transaction into two or more Sales Drafts bearing the same date or different dates, each of which is below the Authorized Floor Limit but when added together exceeds the Authorization Floor Limit. Subscribers means the persons who are subscribers of the services or products offered by the Merchant and who maintains any accounts with the Member Bank, as the case may be, and who will be making ▇▇▇▇ and/or other payments to the Merchant through the FCSB’s secured website and/or mobile application and the term “Subscriber” as the context requires. Terminal Receipt means a document to evidence a Card Transaction produced by a POS Terminal/MPOS in form and substance approved from time to time by FCSB for the purpose of this Agreement.
Split Sale means the process by which a Merchant uses two or more Payment Cards to complete one single transaction to circumvent the DTL imposed on the respective Payment Cards or where Authorisation was declined. In effect, a sales transaction is split when a Merchant divides the cost of a single transaction between two or more Payment Cards, using the same User’s account.