Common use of Important Merchant Responsibilities Clause in Contracts

Important Merchant Responsibilities. (a) Ensure compliance with payment card industry data security standard requirements and Association data security requirements specifically prohibiting the disclosure of any cardholder or transaction information to any third party without prior authorization from Bank. Merchant shall obtain timely PCI DSS certification of its systems and processes (which must be maintained during the Term) as required under the Association rules and authorizes Bank, PNX and the Associations to audit Merchants PCI DSS compliance and information security systems to verify compliance with the terms of this Agreement. Merchant is responsible for any unauthorized access to any Transaction data from the Merchant or from third parties retained by or on behalf of the Merchant. (b) Maintain fraud and chargebacks below Association thresholds. (c) Maintain an active data breach insurance policy with at least

Important Merchant Responsibilities. (a) Ensure compliance with payment card industry data security standard requirements and Association data security requirements specifically prohibiting the disclosure of any cardholder or transaction information to any third party without prior authorization from Bank. Merchant shall obtain timely PCI DSS certification of its systems and processes (which must be maintained during the Term) as required under the Association rules and authorizes Bank, PNX EVERYWARE and the Associations to audit Merchants PCI DSS compliance and information security systems to verify compliance with the terms of this Agreement. Merchant is responsible for any unauthorized access to any Transaction data from the Merchant or from third parties retained by or on behalf of the Merchant. (b) Maintain fraud and chargebacks below Association thresholds. (c) Maintain an active data breach insurance policy with at least