Acquiring Business definition

Acquiring Business means the activity of accreditation and qualification of ECs for the acceptance of electronic payment instruments, as well as payment to the EC of the amounts of the relevant business Transactions carried out, deducted from the applicable charges and commissions.
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Acquiring Business has the meaning set forth in Section 6(c)(ii).
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Acquiring Business means the merchant acquiring program whereby ▇▇▇▇▇▇▇ Bank submits credit card transactions received by merchants to the Associations for payment.
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Examples of Acquiring Business in a sentence

  • EVERTEC will, in a manner consistent with the practices of the Merchant Acquiring Business, respond to an Issuing Member’s request for information in accordance with the Rules in the event a Merchant initiates a Chargeback, and shall assist BPPR in responding to an Issuing Member’s request for information in accordance with the Rules in the event a Government-Merchant initiates a Chargeback.

  • EVERTEC shall, in a manner consistent with the practices of the Merchant Acquiring Business, ensure that all Representatives are familiar with, and will comply with, the Rules.

  • For the avoidance of doubt, the Joint Venture acknowledges that data identical to the Joint Venture Data may be held separately by the Bank, obtained directly in relation to any of the Bank’s businesses other than the Merchant Acquiring Business and nothing in this Agreement is intended to affect the Bank’s ownership or use of such data.

  • If a Governmental Entity or any other Merchant requires a financial institution to be the only other party to any contract, agreement, understanding, commitment or arrangement involving the Merchant Acquiring Business or any part thereof (each, a “Governmental Contract”) and the Joint Venture is interested in pursuing such Merchant Agreement or Governmental Contract, the Bank agrees to enter into such Merchant Agreement or Governmental Contract on behalf of the Joint Venture.

  • Schedule 6.12 sets forth a complete and accurate list of each supplier to Seller of goods and services directly related to the Transferred Assets used in the Merchant Acquiring Business which are material to the Transferred Assets and the conduct of the Merchant Acquiring Business as conducted by Seller.

  • Purchaser shall use all commercially reasonable efforts from and after the Closing Date to assist Seller, at Seller's request, in processing amounts in respect of any charge-back or other Credit Loss received or identified in connection with the Transferred Assets used in the Merchant Acquiring Business and relating to or arising out of any original sales transaction occurring prior to the Closing Date.

  • Seller recognizes the proprietary interest of Purchaser and its Affiliates in the Confidential Information relating to the Merchant Acquiring Business and the Transferred Assets and agrees that a material breach of this Article XI shall occur if Seller or its Affiliates, during the Non-Compete Term, violates the provisions of this Section 11.

  • When such costs are specific to the Merchant Acquiring Business and individually itemised on invoices received by the Bank, such costs shall be passed straight through to the Joint Venture.

  • If there is no Ordinary Course, then the Joint Venture and the Bank shall agree on a fair and reasonable methodology for allocating the costs amongst the Merchant Acquiring Business and the other businesses of the Bank.

  • If Seller is prohibited from selling its interest in the Target Merchant Acquiring Business Portfolio as described above, Seller shall either (i) sell to another Person or otherwise dispose of its interest in the Target Merchant Acquiring Business Portfolio, or (ii) if Seller is likewise prohibited from selling its interest to another Person or otherwise disposing of its interest, treat the transaction as if a Change of Control has occurred and the provisions of Section 11.1(e) shall apply.