Merchant Settlement. Amount shall mean the amount payable to an Acquirer Merchant in respect of a Transaction pursuant to the merchant services agreement between the Acquirer Merchant and Acquirer, before deduction of any amount by the Acquirer pursuant to the merchant services agreement for the processing of such Transaction, as reported to Acquirer by Planet Payment pursuant to this Agreement. Amounts deducted shall include for this purpose all Interchange and assessments charged by the Card Association, with respect to such Transaction, whether or not separately billed to the Acquirer Merchant.
Merchant Settlement a) The Merchant settlements shall be made electronically into the Merchant Bank Account as mentioned in Application Form Any change in the mode or manner of making the payments shall be as per the process and upon such terms and conditions as mutually agreed between the Parties.
