Payment Method Acquirers Clause Samples
The 'Payment Method Acquirers' clause defines the parties responsible for processing payments made through various payment methods on behalf of a merchant or service provider. Typically, this clause outlines which financial institutions or third-party processors are authorized to handle transactions, settle funds, and manage payment-related data. For example, it may specify that only certain banks or payment processors can be used for credit card or digital wallet transactions. The core function of this clause is to ensure clarity and security in payment processing by designating trusted entities to handle sensitive financial transactions, thereby reducing the risk of fraud and operational confusion.
Payment Method Acquirers. Some Payment Method Providers require that their Payment Methods be accepted only through a Payment Method Acquirer, which may be Stripe, its Affiliates, or a Financial Partner. Some of these Payment Method Providers, such as Visa and Mastercard, require you to enter into Acquirer Terms, which will (a) identify the Payment Method Acquirer responsible for Transactions using the Payment Method Acquirer’s Payment Method; and (b) establish a direct contractual relationship and terms between you and the Payment Method Acquirer, as the Acquirer Terms further describe. The Acquirer Terms, which are Financial Services Terms for purposes of this Agreement, describe the Payment Methods to which they apply, and when they go into effect. The Payment Method Acquirer for Visa and Mastercard Transactions is Stripe PSP. By using the Stripe Payments Services to submit Visa or Mastercard Transactions, you agree to the STEL Acquirer Terms. Stripe may add or remove Payment Method Acquirers at any time.
Payment Method Acquirers. Some Payment Method Providers require that their Payment Methods be accepted only through a Payment Method Acquirer, which may be Stripe, its Affiliate, or a Financial Partner. Some of these Payment Method Providers, such as Visa and Mastercard, require you to enter into Acquirer Terms, which will (a) identify the Payment Method Acquirer responsible for Transactions using the Payment Method Acquirer’s Payment Method; and (b) establish a direct contractual relationship and terms between you and the Payment Method Acquirer, as the Acquirer Terms further describe. The Acquirer Terms, which are Financial Services Terms for purposes of this Agreement, describe the Payment Methods to which they apply, and when they go into effect. The Payment Method Acquirers for Visa and Mastercard Transactions are Cross River Bank, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank USA, PNC Bank, N.A. and ▇▇▇▇▇ Fargo Bank, N.A. By using the Stripe Payments Services to submit Visa or Mastercard Transactions, you agree to the Cross River Bank Acquirer Terms, the PNC Bank Acquirer Terms and the ▇▇▇▇▇ Fargo Bank Acquirer Terms. Stripe may add or remove Payment Method Acquirers at any time.