POS Transactions Clause Samples
POS Transactions. The Revel POS Platform is designed to give Customer flexibility in configuring its point of sale systems. Consequently, it is critical that Customer understands how to configure and use Customer’s POS Terminals and Back End portal, and that Customer ensures that transactions are properly processed and credited to Customer’s bank, loyalty and other relevant accounts. Customer acknowledges that it is Customer’s obligation to seek assistance from Revel representatives and Customer’s other vendors if Customer has any questions about the processing and crediting of Customer’s point of sale transactions or if Customer needs assistance with the configuration and operation of the Revel POS Platform or third party products, software and services, and Revel will have no liability as a result of Customer’s failure to do so. Customer further acknowledges that it is Customer’s obligation to ensure on an ongoing basis that payments, loyalty transactions and any other transactions running through the Revel POS Platform are processed properly, and that the respective currency, credit, loyalty points, or other applicable transaction proceeds are accurately deposited in Customer’s relevant accounts, and Revel will have no liability as a result of Customer’s failure to do so. In that regard, Customer will perform a minimum of three (3) test transactions (e.g. $0.01 transactions) before going live (e.g. into production) to ensure that transactions processed on the Revel POS Platform are properly credited to Customer’s account (the “Test Transactions”). Customer shall retain documentation of all Test Transactions during the Term of this Agreement and for one (1) year thereafter and will provide such documentation to Revel upon request. Further, Customer agrees that, on at least a daily basis (and more often if reasonably prudent under the circumstances) , Customer shall check, validate and ensure that
(a) all proceeds from Customer’s point of sale transactions were deposited in Customer’s accounts timely and in full (net of any charges that Customer has agreed to pay to payment processors); (b) data relating to loyalty, incentive or other similar programs was processed properly; and (c) point of sale transactions are batched daily to fully reconcile payment details with Customer’s payment processing vendors, payment gateway and financial institutions. Customer assumes the responsibility to train and instruct the Authorized Parties regarding all of the foregoing Customer obliga...
POS Transactions a) Card transactions presented to us with an authorization date and time stamp will be processed in order from the earliest transaction to the most recent.
b) Card transactions presented to us without an authorization date and time stamp will be processed based on the amount of the transaction, from lowest to highest.
POS Transactions. If the primary Account related to your Card(s) is a Checking Account, Cards may be used to pay for purchases with funds in your Checking Account, subject to applicable transaction limits at any merchant that accepts your Card.
POS Transactions. Cardholders must use the Card together with either (a) a PIN, (b) the Cardholder’s signature, and/or (c) the security code found on the reverse of the card (for purchases made over the telephone or online) to purchase goods or services (and to receive cash back from participating merchants) from a third party merchant that accepts Visa debit cards.
POS Transactions. Provided you have sufficient available funds in your account, you may use your Card at a POS terminal at any business establishment where the Card is accepted up twenty (20) POS purchases per 24 hours period, totaling up to $1,500.00. The twenty-four (24) hour period is defined as 3:00 p.m. to 3:00 p.m. Pacific Standard Time Various institutions that participate in networks of which the Credit Union is a member may have withdrawal limits different from the above amounts. ATM & POS terminal owners, merchants and retailers may restrict cash withdrawals and purchases to lower limits and charge proprietary fees. For security reasons, in the event your Card or PIN is lost or stolen, there may be restrictions on transactions you can make at ATMs. You agree to follow the instructions posted or otherwise given by us or any ATM network or POS terminal concerning use of the machine/terminal. When you use your Visa Debit Card for purchases, most merchants will ask us to authorize your purchase. If we authorize your purchase, we will place an authorization hold on your balance, generally for up to three (3) business days, to pay for your purchase. We may authorize or refuse to authorize a transaction based on a different amount than the authorization request because some merchants request authorization for an amount that is unrelated to the actual amount of the purchase (for example, at a gas station). We may place a longer hold for certain types of purchases. There are times—for example, at restaurants, hotels or car rental agencies—when a merchant will not know the exact amount of your purchase when the authorization is requested. If the authorization is more or less than the actual purchase amount, the authorization hold may remain in place even after the purchase amount has posted (settled) to your account. We will pay the purchase amount from your balance whenever the merchant sends it to us, even if the hold has expired. For more information regarding how debit card authorization holds impact your available account balance, refer to the part of this Agreement entitled Overdraft Protection Programs.
POS Transactions. If the primary Account related to your Card(s) is a Checking Account, Cards may be used to pay for purchases with funds in your Checking Account, subject to applicable transaction limits at any merchant that accepts your Card. Please note, however, that HSA Cards may not be used at an automated fuel dispenser (i.e., pay at the pump).
POS Transactions. Your Debit Card may be used to purchase goods or services from merchants who have arranged to accept a Debit Card as a means of payment. Purchases made with your Card, including any purchases where you receive cash back, are referred to as point of sale transactions or POS transactions. A POS transaction will cause your checking account to be debited for the amount of the purchase. A POS transaction may result in a transaction in your checking account, overdraft protection and overdraft loans accounts when performed with your Card.