Vendor services definition
Examples of Vendor services in a sentence
The Software will facilitate (at Company’s option) some or all of the following: acceptance of signature -based debit, credit and stored value electronic transactions; use of electronic funds transfer, including electronic transfers from Custom ers’ banks, electronic checks, and the transfer of funds from the Settlement Bank to the Merchant Deposit Account On file with the Company via use of the Vendor Services.
Company’s provision of the Software, use of the Vendor Services and the provision of access to the Networks, TPPs, and Settlement Bank is collectively referred to as the “Service”.
As such, (i) card processing data will be received by Company and be made available to Merchant at ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇; (ii) Transactions are split-settled by Company where the payment amount is settled into the Merchant Account by the Settlement Bank, via the Vendor Services or otherwise, and the Fee is settled separately with the Company.