In-Store Payments. During the Term, Retailer shall have the ability to accept in-store payments at Store Locations (“In-Store Payments”) from Cardholders on their Accounts on behalf of Bank. Retailer and Bank have jointly developed additional procedures in the Operating Procedures with respect to the manner in which such In-Store Payments shall be processed. The following terms and conditions shall apply to In-Store Payments:
(a) Retailer will receive and hold all In-Store Payments in trust for Bank.
(b) Retailer will accept and process all In-Store Payments in accordance with the Operating Procedures.
(c) Retailer shall, as necessary, provide proper endorsements on such items.
(d) Bank shall grant to Retailer a limited power of attorney (coupled with an interest) to sign and endorse Bank’s name upon any form of In-Store Payment that may have been issued in Bank’s name in respect of any Account.
(e) Retailer shall notify Bank upon receipt of any In-Store Payment, indicate the tender types for In-Store Payments and shall include the Charge Transaction Data related to such In-Store Payment in the net settlement in respect of the day immediately following such receipt on the same basis as other Charge Transaction Data.
(f) Retailer shall issue a receipt for each In-Store Payment in compliance with Applicable Law. If at any time, based upon either party’s (the “Determining Party”) good faith interpretation of Applicable Law, the Determining Party determines that, as a result of such Applicable Law, Retailer’s acceptance of In-Store Payments is detrimental to the interests of the Determining Party, then, at the Determining Party’s request, Retailers shall cease accepting In-Store Payments and shall direct Cardholders to make all payments in respect of Accounts directly to Bank.
In-Store Payments. The Retail Merchants may accept In-Store Payments from Cardholders on their Accounts in accordance with the Operating Procedures. The Retail Merchants shall, as necessary, provide proper endorsements on such items. Bank hereby grants to each of the FDS Companies and the Retail Merchants a limited power of attorney (coupled with an interest) to sign and endorse Bank’s name upon any form of payment that may have been issued in Bank’s name in respect of any Account. The FDS Companies and Bank shall jointly develop procedures in the Operating Procedures with respect to the manner in which such In-Store Payments shall be processed (it being understood that such procedures shall provide for immediate credit toward the applicable open-to-buy limits of the respective Account upon receipt of an In-Store Payment). The FDS Companies, on behalf of the Retail Merchants, shall notify Bank upon receipt of In-Store Payments and Bank shall include the FDS Charge Transaction Data related to such In-Store Payments in the net settlement in respect of the day immediately following such receipt on the same basis as other FDS Charge Transaction Data. The Retail Merchants shall issue receipts for such payments in compliance with Applicable Law.
In-Store Payments. The physical store Company Channels shall be permitted to accept In-Store Payments from Cardholders on their Accounts in accordance with the Operating Procedures, the Risk Management Policies and any procedures required under Applicable Law. The Bank hereby grants to each of the Company and any Retail Merchant who can accept In-Store Payments a limited power of attorney (coupled with an interest) to sign and endorse the Bank’s name upon any form of payment that may have been issued in the Bank’s name in respect of any Account. The Operating Procedures shall set forth the manner in which such In-Store Payments shall be processed (it being understood that such procedures shall provide for credit toward the applicable open-to-buy limits of the respective Account in accordance with Schedule 7.2). The Company shall notify the Bank upon receipt of In-Store Payments and the Company shall include the Charge Transaction Data related to such In-Store Payments in the Settlement File in respect of the day immediately following such receipt on the same basis as other Charge Transaction Data. The Company shall issue receipts for such payments in compliance with Applicable Law.
In-Store Payments. Kohl’s may accept In-Store Payments from Cardholders on their Accounts in accordance with the Operating Policies, which payments Kohl’s, as servicer for the Bank, shall apply against the outstanding balances on the Accounts. Kohl’s shall, as necessary, provide proper endorsements on such items. Bank grants to Kohl’s a limited power of attorney (coupled with an interest) to sign and endorse Bank’s name upon any form of payment that may have been issued in Bank’s name in respect of any Account. The Operating Policies shall specify the manner in which such In-Store Payments shall be processed. Kohl’s shall notify Bank upon receipt of In-Store Payments and Bank shall include the Charge Transaction Data related to such In-Store Payments in the net settlement in respect of the day immediately following such receipt on the same basis as other Charge Transaction Data. Kohl’s shall issue receipts for such payments in compliance with the Operating Policies.
In-Store Payments. (a) LESCO shall make available to Accountholders at all Store Locations the address to be used for payment on Accounts to be made directly to Bank; provided, that except as provided below, during the Term LESCO may accept at any of its Store Locations payments on an Account by the underlying Accountholder or any person acting on behalf of such Accountholder. If any such in-store payment is made (or LESCO otherwise receives any payment on an Account), LESCO shall give the Accountholder a receipt therefore and shall be deemed to hold such payment as property of, and in trust for, Bank until (x) such payment is delivered to Bank, or (y) Bank is informed of the amount of such payment in accordance with Section 6.17(b). If at any time, based upon Bank's good faith interpretation of any law, rule, regulation, guideline or order, Bank determines that, as a result of such law, rule, regulation, guideline or order, LESCO's acceptance of in-store payments is detrimental to the interests of Bank, or if Bank determines that there has been a material deterioration in the financial condition of LESCO, then, at Bank's request, LESCO shall cease accepting in-store payments and shall direct Accountholders to make all payments in respect of Accounts directly to Bank.
(b) It is the intention and expectation of Bank and LESCO that notice of each in-store payment or credit slip with respect to any Account shall be transmitted to Bank within 24 hours of each such transaction (which notice shall include the amounts and Accounts as to which such transaction relates); provided, that in no case shall any such data transmission occur later than (i) in the case of purchases at Service Centers(R), three (3) days, and (ii) in the case of purchases from Stores-On-Wheels(R) or from LESCO's other outside sales force, five (5) days after the receipt of such payment or issuance of such credit. An in-store payment will be credited to the relevant Account as of the date Bank applies the amount of such payment to reduce amounts payable by Bank to LESCO (or if no such application is made, as of the date Bank receives such in-store payment from LESCO).
In-Store Payments. Commencing with the first month following the month in which Retailer has implemented the capability to accept In-Store Payments pursuant to Section 7.14 and each month thereafter, Bank shall pay to Retailer an amount equal to the product of (a) the actual number of separate In-Store Payments processed by Retailer in accordance with Section 7.14 during the prior month and (b) [*].
In-Store Payments. Bank shall pay to Retailer an amount equal to the product of (a) the actual number of separate In-Store Payments processed by Retailer in accordance with Section 7.14 during the prior month and (b) [***].
In-Store Payments.
7.1 CIMB Pay’s In-store Payments service is only available on In-store Payments Compatible Device(s). The list of In-store Payments Compatible Devices can be viewed on CIMB Bank’s website. The provided list is non-exhaustive and CIMB Bank reserves the right to add or remove the Devices listed below at any time and from time to time at CIMB Bank’s sole and absolute discretion and CIMB shall not be liable or responsible for any loss or damage that you may suffer or suffered as result of the said addition or removal.
7.2 You agree and acknowledge that by adding Card(s) into your CIMB Pay Account, tapping or waving your In-store Payments Compatible Device(s)at Supported Terminals, you are authorising payment for the merchant’s product and/or services to be charged to your primary or selected Card whether or not the said transaction is authorised by you.
7.3 For In-store Payments transactions above the prevailing contactless transaction amount threshold(s) as prescribed by the CIMB Bank from time to time, you may be required to present your physical Card or you may be subjected to additional verification such as the entry of the PIN for the Card or your signature at the Supported Terminal depending on the acquirer, local regulations and/or industry regulations.
7.4 Completion of In-store Payments transactions are also subjected to authorization and posting via existing transaction processing methods. In addition, you also acknowledge that receipts and records for In-store Payments transactions may display the token card number instead of your physical Card number.
7.5 You acknowledge that CIMB Bank reserves the rights to specify limits on the number of transactions, amount of transactions and the period which CIMB Pay’s service(s) is allowed to be operated by giving you adequate prior notice.
7.6 When using In-store Payments to purchase any goods and/or services from a merchant, you acknowledge that there may arise situations due to merchant’s system constraint or for any other reason, the merchant may not be able to accept this payment method and require you to complete the transaction with your physical Card or by cash. CIMB Bank shall not be liable for any losses that you may suffer or have suffered as a result of the failure to complete or execute Instructions for In-store Payments and the merchant’s inability to accept this form of payments.
In-Store Payments. Retailer shall not accept any payment on an Account. Retailer will make available to Cardholders at all Store Locations (and at such other locations or venues at or through which Cardholders may seek information about the Program) the address to be used for making payments on Accounts directly to Bank. If notwithstanding the foregoing, Retailer inadvertently receives any payment on an Account, Retailer agrees that it will receive and hold such payment in trust for Bank and will promptly (but not later than three (3) business days after Retailer realizes it has received such payment) deliver such payment to Bank in the form received together with such endorsements or other documents of assignment as may be necessary to permit Bank to receive the benefit thereof to the same extent as if payment had been made directly to Bank.
In-Store Payments. The parties shall continue to support In-Store Payments. If Sears or its Affiliates shall receive any In-Store Payments, Sears shall, directly or through its Affiliates, be deemed to hold such In-Store Payments in trust for Purchaser until such payments are either delivered to Purchaser or applied to reduce amounts payable by Purchaser to Sears pursuant to the Merchant Agreement. Sears shall give or cause to be given to each Person making an In-Store Payment a receipt for such payment. In-Store Payments shall be credited to the Account of the relevant Cardholder as of the date of actual receipt by Sears or its Affiliates. In the event that In-Store Payments received by Sears and its Affiliates and creditable to Purchaser pursuant to the Merchant Agreement on any Business Day exceed amounts payable by Purchaser to Sears on such Business Day, Sears shall be required to remit such excess to Purchaser no later than two Business Days thereafter or, if earlier, the date on which the Settlement Amounts (as defined in the Merchant Agreement) with respect to sales of Merchandise made on the same day that the In-Store Payment is received are paid to Sears under the Merchant Agreement. In the event that In-Store Payments paid by check are returned for insufficient funds, Purchaser will promptly reimburse Sears for the amount of any returned checks, any bank or other third party fees associated therewith, and any third party fees incurred by Sears in representing checks for payment; provided, however, that Sears shall comply with Purchaser’s reasonable instructions regarding the processing of such returned checks.
