Issuer authorisation for Full Recourse Transactions Sample Clauses

Issuer authorisation for Full Recourse Transactions. The Merchant shall obtain Issuer authorisation of Transactions as follows: a. All Full Recourse Transactions are at the Merchant’s risk. As to each Full Recourse Transaction, the Merchant warrants to PAYSTRAX that the person whose name is submitted to PAYSTRAX as Cardholder made the purchase. Upon breach of this warranty, PAYSTRAX may charge back the Transaction to the Merchant. If PAYSTRAX charges back the Transaction to the Merchant: (i) the Merchant shall pay PAYSTRAX the amount of the Transaction, any Chargeback fee in the Agreement, plus any Card company fine or assessment; and (ii) PAYSTRAX may charge all such amounts to the Operating Account or Merchant Reserve Account without prior notice to the Merchant; b. All Full Recourse Transactions must be electronically authorised via Software application and, in addition to the information required in Section 12.2.17 of this Agreement, each such request for Authorisation also shall include: (i) an Authorisation code, if required; (ii) the Cardholder’s address and Address Verification results; and (iii) in lieu of the Cardholder’s signature, a notation of (A) mail order (MO), (B) telephone order (TO), (C) e-commerce order (EO), or (D) pre-authorised order (PO) on the signature line; c. If the Merchant accepts a Pre-Authorised Recurring Order Transaction, the Cardholder shall execute and deliver to the Merchant a written request for this pre-authorisation. This written request shall be maintained by the Merchant and made available upon request to PAYSTRAX. All annual xxxxxxxx must be reaffirmed at least once each year. The Merchant shall not deliver goods or perform services covered by a pre-authorisation order after receiving notification from the Cardholder that the pre-authorisation is cancelled or from PAYSTRAX that the Card covering the pre-authorisation is not to be honoured; d. The Merchant shall verify Cardholder’s address with the Card company network, where available. For MO/TO sales, the Merchant shall transmit a ticket/invoice number and shall perform address verification in order to qualify for the Qualified Merchant Discount Rate; e. The Merchant shall always use Strong Customer Authentication (SCA). In cases where the Merchant does not use SCA, the Merchant bears full liability of the transaction, if it is challenged by the cardholder, the card schemes or PAYSTRAX. It is important that the Merchant has relevant documents to confirm the validity of the payment transaction.
Sample 1
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Related to Issuer authorisation for Full Recourse Transactions

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