Electronic Drafts definition

Electronic Drafts transaction data generated electronically in the Merchant’s system upon card payment authorization in the card payment network. Electronic drafts are the basis for settlement between the Bank and the Merchant. “Digital Wallet” – a software-based system that stores payment card tokens and allows accepting payments for e-commerce transactions and at POS terminals. Payments carried out by means of a digital wallet are subject to the same terms and conditions as card payments envisaged in the Agreement. Pre-authorization – a temporary hold placed on the transaction amount until full or partial capture or abortion of the transaction by the Merchant. Unless the Merchant finalizes the transaction and captures the amount within 30 (thirty) days of pre-authorization, the hold will expire.
Sample 1Sample 2Sample 3
Electronic Drafts transaction data generated electronically in the Merchant’s system upon card payment authorization in the card payment network. Electronic drafts are the basis for settlement between the Bank and the Merchant. “Digital Wallet” – a software-based system that stores payment card tokens and allows accepting payments for e-commerce transactions and at POS terminals. Payments carried out by means of a digital wallet are subject to the same terms and conditions as card payments envisaged in the Agreement.
Sample 1Sample 2
Electronic Drafts an electronic set of transaction datagenerated by the Payment System/Network in the online store’s system upon cDraafrts dare ptheaybamsisefnortssett.lemeEntlbeetwcetenrtohenBianck and the Merchant.
Sample 1

Examples of Electronic Drafts in a sentence

  • Accounts must complete the ACH Payment Program Application & Agreement and the Authorization to Honor Electronic Drafts.

Related to Electronic Drafts

  • Electronic Data Interchange or “EDI technology” means the computer-to-computer exchange of business transactions in a standardized, structured electronic format.

  • Electronic act means the creation or transmission originated on or off the schoolsite, by means of an electronic device, including, but not limited to, a telephone, wireless telephone, or other wireless communication device, computer, or pager, of a communication, including, but not limited to, any of the following:

  • Electronic PHI means PHI created, received, maintained or transmitted electronically in accordance with 45 CFR § 160.103.

  • Electronic prescription means a written prescription that is generated on an electronic application and is transmitted to a pharmacy as an electronic data file; Schedules II through V prescriptions shall be transmitted in accordance with 21 CFR Part 1300.

  • Electronic means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

  • Electronic filing system means the system used by the board's records and information center to accept and publish documents filed electronically and which allows the public and parties to view most documents filed with or issued by the board on the board's Web site.