Professional Secrecy Obligation of iPay Sample Clauses

Professional Secrecy Obligation of iPay iPay, including its personnel and Agent, must maintain secrecy of the information entrusted to iPay in the context of its professional activity. Client acknowledges and agrees that iPay shall approve or decline payment transactions without disclosing information on Balance in Account to third parties. Client acknowledges and agrees that for the purposes of charge back or fraud detection and prevention reasons, iPay may disclose necessary information related to payment transactions with Card or other payment instrument with the logo of Card Organization to Bin Sponsor and/or Card Organization or Regulator. The professional secrecy requirement ceases where the disclosure of information is authorised or required by applicable legislation. The obligation of secrecy does not affect national and foreign authorities responsible for the prudential supervision of the financial sector, provided that they act within their legal competence for the purpose of this supervision and provided the disclosed information is covered by the obligation of professional secrecy of the receiving supervisory authority.
Sample 1
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Related to Professional Secrecy Obligation of iPay

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