GENERAL TERMS - PIN DEBIT Sample Clauses

GENERAL TERMS - PIN DEBIT. In addition to the above terms and conditions, Merchant may contract to accept PIN Debit transactions. The following additional terms and conditions apply to PIN Debit processing: i) Moneris or one of its affiliates is a member of the Point-Of-Sale ("POS") networks (collectively the "Networks," and individually "Network") identified on Merchant Bankcard Application; and ii) The Networks have established and administer a shared electronic funds transfer system (the "System") by developing and using an online multi-institutional electronic funds POS transfer facility (the "Interchange") at which electronic funds transactions may be interchanged among Members of Networks, participating Merchants and customers of participating Merchants; and iii) Merchant has applied through Moneris to become a participant in the System, and Xxxxxxx is willing to provide POS transaction service to Merchant on the terms and conditions set forth herein; and iv) Merchant acknowledges that it will not be able to participate in the System until Merchant has met all required rules, regulations and operating standards therefore.
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