Merchant Acquiring Business means the business engaged in by BPPR, directly through its Merchant Business division and indirectly through EVERTEC, in each case prior to the Effective Date, enabling Merchants and Government-Merchants to accept and process payment of goods and services from their customers by means of Cards or other transaction media, including the signing up and underwriting of Merchants and Government-Merchants for accepting such means of payment, providing POS card-based transaction processing services and electronic payment and settlement services (including PIN and signature debit transaction authorization, settlement and exception processing, gift, private label, stored value and prepaid card processing and certain payments-related reselling services), the sale of products and services related thereto, including terminal deployment services and other value added services (including Card-acquiring debit portfolio management services related to the foregoing, and certain data processing services).
Merchant Acquiring Business means acceptance of Credit Card or Debit Card transaction records in documentary or electronic form from Merchants pursuant to Merchant Agreements, Agent Bank Agreements, ISO Agreements and Related Agreements governing either Credit Card transactions only or both Credit Card and Debit Card transactions and in connection with the processing and clearing of such records for settlement and payment to such Merchants under any such Merchant Agreements, Agent Bank Agreements, ISO Agreements or Related Agreements. The term "Merchant Acquiring Business" shall not include any business conducted by Mellon or any affiliate of Mellon pursuant or relating to any Excluded Asset or Excluded Liability, smart card issuance and processing, E- commerce and other non-credit card payments processing, digital certificate authorization, on-line debit card POS technology development and prepaid debit cards.
Merchant Acquiring Business shall not include any business conducted by Mellon or any affiliate of Mellon pursuant or relating to any Excluded Asset or Excluded Liability, smart card issuance and processing, E- commerce and other non-credit card payments processing, digital certificate authorization, on-line debit card POS technology development and prepaid debit cards.
Examples of Merchant Acquiring Business in a sentence
EVERTEC will, in a manner consistent with the practices of the Merchant Acquiring Business, respond to an Issuing Member’s request for information in accordance with the Rules in the event a Merchant initiates a Chargeback, and shall assist BPPR in responding to an Issuing Member’s request for information in accordance with the Rules in the event a Government-Merchant initiates a Chargeback.
EVERTEC shall, in a manner consistent with the practices of the Merchant Acquiring Business, ensure that all Representatives are familiar with, and will comply with, the Rules.
More Definitions of Merchant Acquiring Business
Merchant Acquiring Business means the business of enabling Merchants to accept and process payment of goods and services from their customers by means of Cards or other transaction media, including the signing up and underwriting of Merchants for accepting such means of payment, providing POS card-based transaction processing services and electronic payment and settlement services (including PIN and signature debit transaction authorization, settlement and exception processing, gift, private label, stored value and prepaid card processing and certain payments-related reselling services), the sale of products and services related thereto, including terminal deployment services and other value added services (including Card-acquiring debit portfolio management services related to the foregoing, and certain data processing services).
Merchant Acquiring Business means a business providing any of the --------------------------- following services or products to Persons with respect to Transaction Cards: (i) the authorization and/or capture of transactions; (ii) the submission of such transactions for interchange settlement or other settlement; (iii) the preparation of statements or reports based on such transactions; chargebacks and other exception items (including electronic access); (iv) the provision of customer service or other office services in respect of any of such transactions; (v) clearing and settlement services; (vi) enhancements or modifications to any of the foregoing services; and (vii) other services or products developed in support of merchants to allow such merchants to remain competitive in the Transaction Card industry.
Merchant Acquiring Business means a business providing any of the following services or products to merchants with respect to Transaction Cards (as hereinafter defined): (i) the authorization and capture of transactions; (ii) the submission of such transactions for interchange settlement or other settlement; (iii) the preparation of statements or reports based on such transactions, chargebacks and other exception items (including by electronic access); (iv) the provision of customer service or other back office services in respect of any of such transactions;
Merchant Acquiring Business means the business engaged in by EVERTEC (and, if applicable, any of its Affiliates) to provide Merchant Services hereunder as an ISO for BPPR as Acquiring Member, enabling Merchants and Government-Merchants to accept and process payment of goods and services from their customers by means of Cards or other transaction media, including the signing up and underwriting of such Merchants and Government-Merchants for accepting such means of payment, providing card-based transaction processing services and electronic payment and settlement services (including PIN and signature debit transaction authorization, settlement and exception processing, gift, private label, stored value and prepaid card processing, e-commerce and certain payments-related reselling services) and the sale of products and services related thereto, including terminal deployment services, payment gateway(s) and other value-added services.
Merchant Acquiring Business means a business providing any of the following services or products to merchants with respect to Transaction Cards (as hereinafter defined): (i) the authorization and capture of transactions;
Merchant Acquiring Business means the merchant acquiring business of the Company and/or its subsidiaries in the Relevant Jurisdictions as at the date of this Agreement;
Merchant Acquiring Business means a business providing any of the following services or products to merchants with respect to Transaction Cards (as hereinafter defined): (i) the authorization and capture of transactions; (ii) the submission of such transactions for interchange settlement or other settlement; (iii) the preparation of statements or reports based on such transactions, chargebacks and other exception items (including by electronic access); (iv) the provision of customer service or other back office services in respect of any of such transactions; (v) clearing and settlement services; (vi) enhancements or modifications to any of the foregoing services; and (vii) new services or products developed in support of merchants to allow such merchants to remain competitive in the Transaction Card industry.