Payment Facilitator definition

Payment Facilitator means a third-party agent that may do the following: Sign a merchant acceptance agreement on behalf of an acquirer;

Payment Facilitator means a third party which facilitates payments, including without limitation, payment system infrastructure, communications, clearing and other payment service providers, and intermediary, agent and correspondent banks.

Payment Facilitator means an entity that is registered with a credit card system by an Acquirer to facilitate transactions on behalf of Sponsored Merchants, and receives settlement of transaction proceeds from the Acquirer on behalf of the Sponsored Merchants.

Examples of Payment Facilitator in a sentence

• If at any time Sub-Merchant believes that Card information has been compromised, Sub-Merchant must notify Provider and Payment Facilitator promptly, and Sub-Merchant and Payment Facilitator must provide notice to the proper parties in accordance with the Master Contract’s Attachment 2, Statement of Work, Section 10.3, Core Platform and Security Breach.

• Furthermore, Customer agrees to waive and hold Bank and/or Payment Facilitator harmless from and against any and all claims which Customer may have as a result of such reporting.

• Customer represents to Bank that Customer does not have access to Card information (such as the cardholder’s account number, expiration date, and CVV2) and Customer will not request access to such Card information from Bank or Payment Facilitator.

• All obligations by Customer to pay or reimburse Bank for any obligations associated with transactions Customer has submitted to Bank and Payment Facilitator are intended to survive termination of this Agreement.

• Payment Facilitator is providing services under this Agreement to effectuate its provision of a larger scope of services provided for in the Master Contract.

More Definitions of Payment Facilitator

Payment Facilitator means an entity that is registered with a credit card system by an Acquirer to facilitate transactions on behalf of Sponsored Merchants.

Payment Facilitator means an entity whose business model provides that it accepts the Card on behalf of third parties. Formerly referred to as “Payment Aggregator”, “Payment Service Provider” or “PSP” in our materials. PIN means Personal Identification Number. Terms and Conditions for American Express® Card Acceptance March 2024

Payment Facilitator means is a third-party agent that may (a) Sign a merchant acceptance agreement on behalf of an acquirer (b) Receive settlement of transaction proceeds from an acquirer, on behalf of a Merchant.

Payment Facilitator means the entity that has contracted with PXP under a direct Payment Facilitator Agreement (as described in the applicable Tripartite Merchant Services Agreement);

Payment Facilitator means an entity that, for booking of the Eligible Properties advertised via the TrustedStays Platform: (a) acts as a third-party agent that receives a settlement of transaction proceeds from an acquirer; (b) is responsible to maintain a payment gateway account to process payments related to the booking of Properties; (c) negotiates and manages ongoing credit card processing fees; (d) is responsible for compliance with PCI-DSS and GDPR standards for handling cardholder information and other data security regulations; (e) manages refund requests and handles chargebacks; (f) utilizes its merchant ID to aggregate payment; and (g) takes on other actions and responsibilities as determined by the banks and credit card associations with jurisdiction over the relevant means of payment.

Payment Facilitator means a business provider that provides the service of receiving payment via electronic card by receiving or sending electronic card payment transaction to an acquirer or another payment facilitator, as the case may be. Then the payment facilitator will pay for goods or services to a merchant, service provider or another payment facilitator, who has a mutual service agreement regarding electronic card payment as upon conditions.

Payment Facilitator shall have the meaning given that term in the Operating Regulations.