Company Processor definition
Examples of Company Processor in a sentence
Subject to Merchant compliance with technical specifications prescribed by Company, Processor, Bank and the Rules, Merchant shall cause information concerning Card Transactions to be communicated to Payment Networks and Bank whereupon, Company shall cause Bank to acquire the funds related to such Transactions and settle such funds to Merchant.
In the event that an item is returned unpaid following transmission of recovered funds to the Company, Processor will debit the Company’s account for the amount of the returned item.
Company, Processor and/or TPA are specifically restricted to processing only such approved types of ACH activity, or such other types of ACH activity as specifically approved in writing by IC.
Merchant expressly consents for Company, Processor, Bank and all third parties that assist in the delivery of the Services to collect, use, store and disclose Company information, including that provided in the Application, information concerning Customers, Transactions and the business of the Merchant in order to supply the Services, generate reports, to reduce fraud, provide customer support, create and share aggregated data concerning the Services and assessing the risk associated with the Merchant.
Company, Processor and/or TPA agree that they shall not, under any circumstances submit for processing any transaction in connection with Internet gambling.
The Company, Processor, or ODFI reserves the right to dishonor a return received from an RDFI under the following conditions: (i) the return was untimely; (ii) the return contained incorrect information; (iii) the return was misrouted; (iv) the return was a duplicate; (v) the return resulted in an unintended credit to the Receiver during the reversal process.
The Company, Processor, or ODFI may initiate a reclamation entry or written demand for payment in accordance with the Rules under the following conditions: (i) the Receiver is deceased; and (ii) neither the Receiver’s estate nor any other account holder is entitled to the payment.
Company: Any failure by the Company, Processor or TPA to observe any term or condition of this Agreement, to provide IC with honored funds, or otherwise, shall allow IC to immediately terminate this Agreement and fax notice of such termination of Agreement to Company.
Merchant acknowledges and agrees that Company, Processor and Operator may issue a pre-notification to Merchant’s and/or Owner(s)’s bank(s) with respect to such debit transactions.
Following termination of the Main Agreement and/or this DPA and upon express written instructions from the Company, Processor will ensure that the Personal Data will be, as requested by the Controller, deleted, or returned to the Processor either manually or, if technically available, via direct export from the relevant Service.