Transaction Card Services Sample Clauses
Transaction Card Services. The Company will arrange for the funding of receivables of Merchants and will provide the following merchant services (collectively, the “Transaction Card Services”):
5.1.1 Enter into Merchant Agreements (in accordance with Section 5.2 below) on behalf of WFB and Company, and obtain from each Merchant such documentation as is required by the applicable Merchant Agreement, evaluate such prospective new Merchants as to the level of risk they might pose, negotiate the Merchant Agreement, and process Merchant’s Transactions;
5.1.2 Provide all services necessary to authorize, data capture, process, settle and reconcile transactions effected by Merchants with holders of applicable Payment Company-branded credit cards;
5.1.3 Set up new Merchants and provide ongoing maintenance of Merchant accounts;
5.1.4 Monitor daily loss prevention of the serviced accounts, according to a Fraud Prevention Program;
5.1.5 Provide all communication to and from Merchants in furtherance of the services contemplated in this Agreement;
Transaction Card Services. The Company will arrange for the funding of receivables and provide the following services to Merchants (collectively, the “Transaction Card Services”):
Transaction Card Services. The Company will arrange for the funding of receivables and provide the following services to Merchants (collectively, the “Transaction Card Services”):
5.1.1 Enter into Merchant Agreements (in accordance with Section 5.2 below) and obtain from each Merchant such documentation as is required by the applicable Merchant Agreement, evaluate such prospective new Merchants as to the level of risk they might pose, negotiate the Merchant Agreement, and process Merchant's Transactions;
5.1.2 Provide all services not provided by WFB pursuant to the terms of this Agreement that are necessary to authorize, data capture, process, settle and reconcile transactions effected by Merchants with holders of applicable Cards;
5.1.3 Set up new Merchants and provide ongoing maintenance of Merchant accounts;
5.1.4 Monitor daily loss prevention of the serviced accounts, according to a Fraud Prevention Program;
5.1.5 Provide all communication to and from Merchants in furtherance of the services contemplated in this Agreement;
5.1.6 Report all Merchant account activity contemplated under this Agreement pursuant to a mutually agreed upon Monthly Scorecard (including, but not limited to processing, chargebacks, and credits on an individual Merchant and aggregate basis) which is described in Schedule 5.1;
5.1.7 Provide detailed reporting, the form and substance of which shall be subject to WFB's approval, that allows WFB to ensure accurate and timely reconciliation according to WFB's financial monitoring and controls policies; and
5.1.8 Underwrite Merchants in a manner that conforms to the requirements of the Credit Policy, as further described in Section 5.3.