Account Updater Services Clause Samples
The Account Updater Services clause defines the terms under which a service provider will automatically update stored payment account information, such as credit card numbers or expiration dates, to ensure continued payment processing. This typically applies to merchants who store customer payment details for recurring billing or subscription services, allowing them to receive updated account data from card networks when a customer's card is reissued or replaced. The core function of this clause is to minimize payment disruptions and reduce failed transactions by keeping payment information current without requiring direct customer intervention.
Account Updater Services. The Account Updater Service allows Processor and Bank to access, or supply to You, the most current cardholder account information to the extent your businesses requires electronic maintenance of customer account data. Using this service Processor and Bank will be able to obtain updated cardholder account information to support your subscription services, recurring payments, and other account on-file-functions, to the extent applicable to You. You shall only use this service for your own account, and You may not submit inquiries on behalf of any other entity.
Account Updater Services. Where we provide the Account Updater Service to you in accordance with the terms of this Agreement, the following additional provisions in this part apply:
4.1 In this part, the following capitalised terms and expressions will have the following meanings (unless the context otherwise requires).
Account Updater Services. Where we provide the Account Updater Service to you in accordance with the terms of this Agreement, the following additional provisions in this part apply:
Account Updater Services. Certain Networks (e.g., Visa, Mastercard, American Express, and Discover) offer account updater programs that will allow Company to obtain updated Card account information for Cardholders or updated Tokens from First Data’s TransArmor service (the updated TransArmor Tokens and updated Card account information are referred to collectively as Updated Cardholder Information) with whom Company has an existing relationship. Such account updater programs may be (1) off line services to which Company submits inquiries and receives Updated Cardholder Information (such programs are referred to herein as Batch Account Updater Programs) or (2) real time services through which Company receives Updated Cardholder Information during the authorization process (such programs are referred to herein as Real Time Account Updater Programs, and, together with Batch Account Updater Programs, Account Updater Programs). For Networks that offer both a Batch Account Updater Program and a Real Time Account Updater Program, Company may elect to use such Network’s Batch Account Updater Program, Real Time Account Updater Program, or both Account Updater Programs for such Network. First Data will provide Company with access to the Networks’ Account Updater Programs (the Account Updater Services) pursuant to the terms of this Schedule.