Compliance; Authorization; Other Requirements. Merchant agrees to comply (and assume all liability for failure to comply) with the Rules of the Debit Card networks (“Networks”) as amended from time to time. Any Authorization must be obtained immediately for every Debit Card Sale as directed by Bank and/or SPS (“Authorization”). When Authorization is obtained, Merchant will electronically print the authorization number on the Sales Transmittal. Merchant agrees that: (i) for each Debit Card Sale, the Debit Cardholder must enter his Personal Identification Number (“PIN”) through a PIN pad located at the point of sale (“POS”); (ii) each PIN pad will be situated to permit Debit Cardholders to input their PINs without revealing them to other persons, including Merchant's personnel; (iii) Merchant will instruct personnel (a) that they may not ask any Debit Cardholder to disclose the PIN and (b) in the event that any of Merchant's personnel nevertheless becomes aware of any Debit Cardholder’s PIN, such personnel will not use such PIN or create or maintain any record of such PIN, and will not disclose such PIN to any other person; (iv) the PIN message must be encrypted from the PIN pad to the POS terminal and from the POS terminal to the Network and back so that the PIN message will not be in the clear at any point in the Transaction;
Appears in 1 contract
Samples: Merchant Agreement
Compliance; Authorization; Other Requirements. Merchant agrees to comply (and assume all liability for failure to comply) with the Rules of the Debit Card networks (“Networks”) as amended from time to time. Any Authorization must be obtained immediately for every Debit Card Sale as directed by Bank and/or SPS Paya (“Authorization”). When Authorization is obtained, Merchant will electronically print the authorization number on the Sales Transmittal. Merchant agrees that: (i) for each Debit Card Sale, the Debit Cardholder must enter his Personal Identification Number (“PIN”) through a PIN pad located at the point of sale (“POS”); (ii) each PIN pad will be situated to permit Debit Cardholders to input their PINs without revealing them to other persons, including Merchant's personnel; (iii) Merchant will instruct personnel (a) that they may not ask any Debit Cardholder to disclose the PIN and (b) in the event that any of Merchant's personnel nevertheless becomes aware of any Debit Cardholder’s PIN, such personnel will not use such PIN or create or maintain any record of such PIN, and will not disclose such PIN to any other person; (iv) the PIN message must be encrypted from the PIN pad to the POS terminal and from the POS terminal to the Network and back so that the PIN message will not be in the clear at any point in the Transaction;; (v) Merchant will comply with any other requirements relating to PIN security as required by Bank or by any Network; (vi) for each Debit Card Sale a Transaction receipt in conformity with Regulation E of the Board of Governors of the Federal Reserve System will be made available to the Debit Cardholder; (vii) Merchant may not collect tax as a separate cash transaction; and (viii) POS terminals, including hardware and software, must be certified for use by Bank and by all of the Networks. POS terminals must include encrypted PIN pads which allow entry of up to sixteen character PINs, printers and a keyboard lock function. Merchants are responsible for compliance with all Rules regarding the use of POS terminals, regardless of whether such POS terminals are obtained through Bank or through Paya. Merchant will promptly initiate a refund to the customer (which may be made in cash, by an Adjustment Draft or with a check or cashier’s check, as permitted by the Rules) whenever Merchant determines that a Debit Card Sale should be canceled or reversed. Merchant will cooperate with Bank and Paya, to resolve any alleged errors relating to Debit Card Sales. Merchant will maintain adequate records to assist in error resolution; records will be maintained for two years or the period required by the Rules, whichever is greater. Merchant will permit and will pay all expenses of periodic examination and audit of functions at such frequency, as Paya deems appropriate. Audits will meet Paya’s standards, and the results will be made available to Paya. Merchant will not accept cash, checks or other negotiable items from any Debit Cardholder and forward a credit through any network (i.e., as a purported payment or deposit to an account maintained by the Debit Cardholder). Merchant will not forward through any network any Transaction or initiate any reversal of a Transaction that did not originate between Merchant and the Debit Cardholder.
Appears in 1 contract
Samples: Merchant Agreement
Compliance; Authorization; Other Requirements. Merchant agrees to comply (and assume all liability for failure to comply) with the Rules operating rules and regulations of the Debit Card networks (“Networks”) Networks as amended from time to timetime (“Network Rules”). Any Authorization must be obtained immediately for every Every Debit Card Sale must be immediately electronically authorized as directed by Bank and/or SPS (“Authorization”). When Authorization is obtained, Merchant will electronically print the authorization number on the Sales Transmittal. Merchant agrees that: (i) for each Debit Card Sale, the Debit Cardholder must enter his Personal Identification Number (“PIN”) through a PIN pad located at the point of sale (“POS”); (ii) each PIN pad will be situated to permit Debit Cardholders to input their PINs without revealing them to other persons, including Merchant's personnel; (iii) Merchant will instruct personnel (a) that they may not ask any Debit Cardholder to disclose the PIN and (b) in the event that any of Merchant's personnel nevertheless becomes aware of any Debit Cardholder’s PIN, such personnel will not use such PIN or create or maintain any record of such PIN, and will not disclose such PIN to any other person; (iv) the PIN message must be encrypted from the PIN pad to the POS terminal and from the POS terminal to the Network and back so that the PIN message will not be in the clear at any point in the Transaction;; (v) Merchant will comply with any other requirements relating to PIN security as required by Bank or by any Network; (vi) for each Debit Card Sale a Transaction receipt in conformity with Regulation E of the Board of Governors of the Federal Reserve System will be made available to the Debit Cardholder; (vii) Merchant may not collect tax as a separate cash transaction; and (viii) POS terminals, including hardware and software, must be certified for use by Bank and by all of the Networks. POS terminals must include encrypted PIN pads which allow entry of up to sixteen character PINs, printers and a keyboard lock function. Merchants are responsible for compliance with all Rules regarding the use of POS terminals, regardless of whether such POS terminals are obtained through Bank or through SPS. Merchant will promptly initiate a refund to the customer (which may be made in cash, by an Adjustment Draft or with a check or cashier’s check, as permitted by the Rules) whenever Merchant determines that a Debit Card Sale should be canceled or reversed. Merchant will cooperate with Bank and SPS, to resolve any alleged errors relating to Debit Card Sales. Merchant will maintain adequate records to assist in error resolution; records will be maintained for two years or the period required by the Rules, whichever is greater. Merchant will permit and will pay all expenses of periodic examination and audit of functions at such frequency, as SPS deems appropriate. Audits will meet SPS's standards, and the results will be made available to SPS. Merchant will not accept cash, checks or other negotiable items from any Debit Cardholder and forward a credit through any network (i.e., as a purported payment or deposit to an account maintained by the Debit Cardholder). Merchant will not forward through any network any Transaction or initiate any reversal of a Transaction that did not originate between Merchant and the Debit Cardholder.
Appears in 1 contract
Samples: Merchant Agreement
Compliance; Authorization; Other Requirements. Merchant agrees to comply (and assume all liability for failure to comply) with the Rules operating rules and regulations of the Debit Card networks (“Networks”) Networks as amended from time to timetime (“Network Rules”). Any Authorization must be obtained immediately for every Every Debit Card Sale must be immediately electronically authorized as directed by Bank and/or SPS Cornerstone (“Authorization”). When Authorization is obtained, Merchant will electronically print the authorization number on the Sales Transmittal. Merchant will comply with all applicable Federal, state and local laws, rules and regulations, including without limitation the Electronic Funds Transfer Act and Regulation E of the Board of Governors of the Federal Reserve System (“Rules”). Without limiting the generality of the foregoing, Merchant agrees that: (i) for each Debit Card Sale, the Debit Cardholder must enter his Personal Identification Number (“PIN”) through a PIN pad located at the point of sale (“POS”); (ii) each PIN pad will be situated to permit Debit Cardholders to input their PINs without revealing them to other persons, including Merchant's ’s personnel; (iii) Merchant will instruct personnel (aA) that they may not ask any Debit Cardholder to disclose the PIN and (bB) in the event that any of Merchant's ’s personnel nevertheless becomes aware of any Debit Cardholder’s PIN, such personnel will not use such PIN or create or maintain any record of such PIN, and will not disclose such PIN to any other person; (iv) the PIN message must be encrypted from the PIN pad to the POS terminal and from the POS terminal to the Network and back so that the PIN message will not be in the clear at any point in the Transaction;transaction; (v) Merchant will comply with any other requirements relating to PIN security as required by Bank or by any Network; (vi) for each Debit Card Sale a transaction receipt in conformity with Regulation E will be made available to the Debit Cardholder; (vii) Merchant may not establish a minimum or maximum transaction amount as a condition for use of a Debit Card; (viii) Merchant may not charge any Debit Cardholder for the use of any Debit Card in connection with a Debit Card Sale, unless the Network Rules applicable to such Debit Card permit such a charge to be made; (ix) Merchant may not collect tax as a separate cash transaction; and (x) POS terminals, including hardware and software, must be certified for use by Bank and by all of the Networks. POS terminals must include encrypted PIN pads which allow entry of up to sixteen character PINs, printers and a keyboard lock function. Merchants are responsible for compliance with all Network Rules regarding the use of POS terminals, regardless of whether such POS terminals are obtained through Bank or through NW.
1. Credit Referrals. Merchant will promptly initiate a refund to the customer (which may be made by an Adjustment Draft or with a check or cashier’s check, or as otherwise permitted by the Network Rules) whenever Merchant determines that a Debit Card Sale should be canceled or reversed. 2. Error Resolution. Merchant will cooperate with Bank and Cornerstone, to resolve any alleged errors relating to Debit Card Sales. Merchant will maintain adequate records to assist in error resolution; records will be maintained for two years or the period required by the Network Rules, whichever is greater. Merchant will permit and will pay all expenses of periodic examination and audit of functions at such frequency, as Cornerstone deems appropriate. Audits will meet Cornerstone’s standards, and the results will be made available to Cornerstone. 3. Certain Prohibited Transactions. Merchant will not accept cash, checks or other negotiable items from any Debit Cardholder and forward a credit through any network (i.e., as a purported payment or deposit to an account maintained by the Debit Cardholder). Merchant will not forward through any network any transaction or initiate any reversal of a transaction that did not originate between Merchant and the Debit Cardholder. 4. Prevention of Fraud. Merchant will fully cooperate with Cornerstone and Bank in the event that Bank or Cornerstone determines that there is a substantial risk of fraud arising from Merchant’s access to the network. Merchant will take whatever actions Bank or Cornerstone reasonably deem necessary in order to protect Cornerstone and/or the Bank. Neither Cornerstone, Bank nor any of their respective personnel will have any liability to Merchant for any action taken in good faith. 5. Display of Network Trademark(s); Protection of Trade Secrets. In order to inform Debit Cardholders that Debit Card Sales may be transacted at Merchant’s locations, Merchant will prominently display the trademark and/or service xxxx of each network at each location and will display signage of each network at the entrance, near all POS terminals and on the window of such location. All uses by you of any trademark and/or service xxxx will comply with the applicable Network Rules. You acknowledge and agree that in displaying any such trademark and/or service xxxx, you will be acting under Cornerstone’s and/or Bank’s control and subject to approval by the applicable network. You will not be deemed, under any circumstances, a licensee or sub-licensee of any trademark or service xxxx of any network, nor will you otherwise be deemed to have or to acquire any right, title or interest in trademarks or service marks.
Appears in 1 contract
