Common use of PIN-Debit Network Clause in Contracts

PIN-Debit Network. Examples of the types of actions that may be required to initiate a transaction on a PIN-Debit Network include initiating a payment directly with the xxxxxx (possibly via telephone, Internet, or kiosk locations), responding to a logo displayed at a payment site and choosing to direct payment through that network, and having your identity verified using known information derived from an existing relationship with you instead of through use of a PIN. The provisions of this Agreement relating only to Visa® Purchases do not apply to non-Visa® transactions. For example, the additional limits on liability (sometimes referred to as Visa’s® zero-liability program) and the streamlined error resolution procedures offered for Visa® Purchases in Part 1 above do not apply to Visa® Debit Card transactions processed on a PIN-Debit Network. *Visa® Rules generally define PIN-Debit Network as a non-Visa® debit network that typically authenticates transactions by use of a personal identification number (PIN), but that is not generally known for having a card program.

Appears in 6 contracts

Samples: Member Services Agreement, Member Services Agreement, Member Services Agreement

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