Processing and Posting End User Payments Clause Samples

Processing and Posting End User Payments. You agree to process and post each End User Payment to the applicable end user account within twenty-four (24) hours of receiving the End User Payment. If you are a creditor under the federal Truth in Lending Act (15 U.S.C. 1601 et seq), you agree to credit such end user accounts, unless a delay in crediting does not result in a finance or other charge or except as otherwise provided in Regulation Z (12 C.F.R. Part 226), on the earlier of either: (i) the day you received the credit to your Account; or (ii) the day you received the information the Bank provided regarding such End User Payment. If you are unable to process and post the End User Payment within the time period prescribed in Mastercard RPPS and such End User Payment is postable in accordance with your then in effect billing policies applicable to end user payments generally, you shall treat the End User Payment as if you had posted it to the end user’s account on the settlement date of the End User Payment. You may not use settlement funds for purposes other than settling Mastercard RPPS transactions.