Electronically Transmitted Transactions. Bank shall control and disburse all Transaction-related settlement funds to Merchant. Transactions with respect to which Bank receives payment from or through the Associations will be settled on a daily basis, and, except as otherwise expressly provided or permitted pursuant to the terms of this Agreement, Bank shall deliver payment to Merchant in connection with such Transactions by effecting a credit to the Operating Account equal to the reconciled and paid summary Transaction total of all of Merchant’s total paid summary Transactions since the previous credit. Notwithstanding the foregoing, Bank may, in its sole discretion, effect a credit to the Operating Account in connection with any Transaction prior to the point in time Bank receives payment in connection therewith from or through the Associations. In either case, Bank may, if necessary or appropriate, reduce any credit made to the Operating Account by, and/or Bank may require that Merchant pay to Bank an amount equal to: (i) the sum of all Cardholder charges denied, refused or charged back; (ii) all refunds processed on account of Cardholders during said time period; (iii) the amounts, fees and charges, including (but not limited to) Chargebacks, Merchant owes Bank hereunder or under any other agreement entered into between Bank and Merchant; (iv) all taxes, penalties, charges, fees and other items incurred by Bank that are reimbursable pursuant to this Agreement; (v) all applicable rates, fees and charges described on Schedule A; (vi) any amount Bank previously credited to the Operating Account that Bank determines, in good faith, was incorrectly so credited; and
Electronically Transmitted Transactions. Fattmerchant shall deliver payment to Sub-Merchant by a credit to the Operating Account equal to the reconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net of following charges:
i. The sum of all Cardholder charges denied, refused or charged back;
ii. All refunds processed on account of Cardholders during said time period;
iii. All taxes, penalties, charges and other items incurred by Fattmerchant that are reimbursable pursuant to this Agreement; and
iv. Fees, including but not limited to an amount equal to a specified percentage of the total cash price of each draft (“Merchant Discount Rate”), a specified amount per Payment Card Processing Transaction (“Transaction Fee”), any processing fees collected from cardholder (convenience fee and or payment plan setup fees) and additional fees such as a monthly terminal fee, monthly statement fee, installation fees and any other fees identified on the Fattmerchant Application.
Electronically Transmitted Transactions. Sub-Merchant will submit each Payment Card Processing Transaction for Authorization to WorkWave’s designated authorization center. WorkWave’s designated authorization center will respond with the Issuer’s Authorization or rejection of a Payment Card Processing Transaction and will capture and process for Sub-Merchant the information relating to the Payment Card Processing Transaction.
Electronically Transmitted Transactions. Transactions will be settled in accordance with the settlement terms of the Agreement. PAYSTRAX shall deliver payment to the Merchant as soon thereafter as practicable by a credit to the Operating Account equal to the reconciled summary Transaction total of all of the Merchant’s total summary Transactions since the previous credit. This credit will be reduced, if necessary, by: (i) the sum of all Cardholder charges denied, refused or charged back; (ii) all refunds processed on account of Cardholders during said time period; (iii) the fees and charges, including Chargebacks, the Merchant owes PAYSTRAX or the ISO hereunder; (iv) all taxes, penalties, fines, charges and other items incurred by PAYSTRAX that are reimbursable pursuant to this Agreement; and (v) all rates, fees and charges described in the Agreement.
Electronically Transmitted Transactions. WorkWave will deliver payment to Sub-Merchant by a credit to a demand deposit account or other deposit account that Sub-Merchant establishes and designates for use in connection with Payment Card Processing. This account will be deemed an Operating Account for purposes of this Appendix 1 and the General Terms. The amount credited to the Operating Account will equal the reconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net of the following:
i. Fees;
ii. Chargebacks and other amounts denied or refused; iii. refunds processed during the applicable time period; iv. taxes, penalties, charges and other items incurred by WorkWave that are reimbursable pursuant to this Agreement; and
v. any provisional credits (it being understood that any credits to the Operating Account are provisional only and subject to revocation by WorkWave until such time that the applicable Payment Card Processing Transaction is final and no longer subject to chargeback by the Issuer, Cardholder, or Associations).
Electronically Transmitted Transactions. Xxxxxx shall deliver payment to you by a credit to the Bank Account equal to the reconciled summary of your total Transactions since the previous credit. This credit will be net of following charges:
i. The sum of all Customer charges denied, refused or subject to Chargeback;
ii. All refunds processed on account of Cardholders during said time period;
iii. Any Authorized Deductions;
iv. All taxes, penalties, charges and other items incurred by Xxxxxx that are reimbursable pursuant to this Agreement; and
v. Fees, including but not limited to an amount equal to a specified percentage of each Transaction value, a specified amount per Transaction ("Transaction Fee"), and any processing fees collected from Customers (such as convenience fee and or payment plan setup fees).
Electronically Transmitted Transactions. Fattmerchant shall deliver payment to Sub-Merchant by a credit to the Operating Account equal to the reconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net of following charges:
i. The sum of all Cardholder charges denied, refused or charged back; ii. All refunds processed on account of Cardholders during said time period;
Electronically Transmitted Transactions. American Payments Solutions LLC shall deliver payment to Sub-Merchant by a credit to the Operating Account equal to thereconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net offollowing charges:
i. The sum of all Cardholder charges denied, refused or charged back;
ii. All refunds processed on account of Cardholders during said time period;
iii. All taxes, penalties, charges and other items incurred by American Payments Solutions LLC that are reimbursable pursuant to this Agreement; and
iv. Fees, including but not limited to an amount equal to a specified percentage of the total cash price of each draft (“Merchant Discount Rate”), a specified amount per Payment Card Processing Transaction (“Transaction Fee”), any processing fees collected from cardholder (convenience fee and or payment plan setup fees) and additional fees such as a monthly terminal fee, monthly statement fee, installation fees and any other fees identified on the American Payments Solutions LLC Application.
Electronically Transmitted Transactions. Merchant shall initiate and reconcile one or more summary Transactions for each Merchant terminal or POS software application each day. If Merchant fails to settle or close its terminal or POS software application within a 24-hour period, Merchant will be assessed a non- qualified rate in accordance with Schedule of Processing Charges. Bank will credit to Merchant’s Operating Account an amount equal to the reconciled summary Transaction total of all Merchant’s totals since the previous credit including any adjustment, if necessary. If Merchant fails to initiate and reconcile a summary Transaction for any day, Bank will not grant a credit for that day unless the terminal or POS software application is set up for an “auto settle” procedure. Merchant will also not qualify for its qualified CPS discount rate if a terminal or POS software application is not settled each date. If Merchant does not maintain an Operating Account at Bank, Merchant will be credited in a manner deemed appropriate by Bank. Bank will provide Merchant with a credit for Visa and MasterCard Transactions. All Debit Card Transactions are settled with the debit networks, and all other card types are settled directly through the Card Issuer.
Electronically Transmitted Transactions. Merchant shall submit each Transaction for specific authorization from Bank’s Authorization Center using the POS Equipment or POS Software installed in accordance with this Agreement. Debit Card Transactions shall only be processed with a PIN pad terminal; except, however, when processing these types of transactions through the VISA or MasterCard systems by means of a VISA or MasterCard check card. Bank shall authorize or decline a Transaction transmitted for authorization and shall capture and process for Merchant the information relating to the Transaction. The information to be transmitted by Merchant through the terminal or software application shall include, but not be limited to the information required on a sales draft, excepting only the description of the goods and services provided, and the Cardholder’s signature. Merchant agrees to include any additional information necessary for Bank to comply with all legal requirements for billing Cardholder or as may, from time to time, be required by Bank, ISO/MSP and/or the Approved Card Issuer. In the event that a terminal or software application is inoperable at the time of an authorization request, Debit Card Transactions will be declined by Merchant. However, other Transactions for Approved Cards other than Debit Cards may be authorized by using the appropriate dial-up facility. In that case, the Transaction shall be entered into the terminal or software application later that day as a forced sale/ticket only Transaction, provided the approval number is also entered. If authorization is granted, Merchant will obtain a manual imprint of the card and an authorized signature and will enter the approval number on the sales draft.
