Transaction Processing System Sample Clauses
Transaction Processing System. Licensor shall provide a transaction processing system that will allow Licensee's customers to deposit funds for use of the Games. Licensee's customers will be able to deposit funds via the Internet through the use of Visa, Mastercard, and any other credit card accepted by Licensor. Other methods of payment, such as wire transfers, money orders, and Western Union may be made available from time to time at Licensor's discretion. Licensee shall pay any transaction fees (merchant account fees, bank fees, wire fees, Western Union fees, express mail, etc.) and credit card chargebacks, which shall be deducted from monthly revenues otherwise owed to Licensee. Licensee shall have no ownership rights to the processing system.
Transaction Processing System. Licensor shall facilitate the integration of a processing system that will allow Licensee's Customers to deposit and withdraw funds. Notwithstanding, Licensor shall not be deemed responsible for any actions of third-party financial processors working on behalf of Licensee.
Transaction Processing System. Licensor shall provide a financial transaction processing system that will allow Licensee's customers to deposit funds for use through the Internet Gaming Operation. Other methods of payment, such as wire transfers, money orders, online checks, Neteller, 900 Pay and Western Union may be made available from time to time at Licensor's discretion. Licensee shall pay any transaction fees (merchant account fees, Mastercard/Visa fees, bank fees, processing fees, chargebacks, etc.), which shall be deducted from net monthly revenues otherwise owed to Licensee. Licensee shall have no ownership rights to the processing system. Fees will include but are not limited to:
1) Merchant Account Fee - average of 7.0% on gross credit card deposits
2) Transaction Fee - $1.00 per credit card transaction
3) Check Processing - $5.00 charged per check mailed out for withdrawal requests.
4) Charge Backs - $30.00 processing fee per chargeback