CNP Transactions Sample Clauses
CNP Transactions. The CNP ADDENDUM applies to all Card Transactions wherein neither the Cardholder nor the Card is physically present at the Point of Sale. CNP Transactions include mail order and telephone order, electronic commerce (internet), and Preauthorized Transactions. A Merchant may only accept CNP Transactions if the Merchant has completed the appropriate areas on the Application and has been authorized by Merchant Bank and Processor to accept such Card Transactions.
CNP Transactions. A Transaction which is accepted and processed where the Cardholder is not present or the Card is not provided physically to Carrier at the time the Transaction occurs (for example, internet, mail order or telephone order). Credit Card Associations – Visa U.S.A. Inc., Visa International, Inc., MasterCard International Incorporated and any other national card association that may in the future be designated by mutual agreement of the Member and Carrier.
CNP Transactions. 1. Before initiating a Dynamic Currency Conversion Transaction in a CNP Transaction, Merchant must disclose the following information to the Cardholder: (1) the price of the goods or services in the Merchant’s local currency; (2) the exchange rate, including any commission; (3) the total price in the Transaction Currency; (4) that the Cardholder has a choice of currencies, including the Merchant’s local currency; and (5) that the choice of currency is final. For an Electronic Commerce Transaction, the Cardholder must confirm receipt of the above information by clicking on an “accept” or other affirmative button to ensure proper disclosure.
2. In addition to the Charge Record requirements specified for CNP Transactions, a Charge Record for a Dynamic Currency Conversion Transaction must include the following information: (a) the price of the goods or services in the Merchant’s local currency accompanied by the currency symbol next to the amount, (b) the total price in the Transaction Currency accompanied by the words “Transaction Currency” and the currency symbol next to the amount, (c) Exchange rate, including any commission; (d) a statement in an area easily seen by the Cardholder that: (i) the Cardholder was offered a choice of payment in the Merchant’s local currency, and (ii) the choice of currency is final.
CNP Transactions. If Merchant has been approved for CNP transactions, Merchant shall, in addition to including all the information necessary to complete a Sales Slip or Credit Slip, legibly print the letters CNP or MO or TO on the signature line of the Sales Slip/Credit Slip and comply with any special rules as advised from time to time or otherwise provided by ▇▇▇▇▇▇▇ Bank.