Inactive Merchant definition
Inactive Merchant means a Merchant at whose location no transaction has taken at the PoS terminal installed at the location continuously for 45 days.
Inactive Merchant means Merchant with no Transaction in a single calendar month or more.
Inactive Merchant a Merchant at whose location no transaction has occurred at the PoS terminal continuously for three months.
Examples of Inactive Merchant in a sentence
Parties agree that Company may automatically terminate this Agreement without any prior notice to Merchant if Merchant does not have any Transaction for Six (6) calendar months consecutively (“Inactive Merchant”), and reserve the right to impose any inactive fee to Inactive Merchant.
The inactivity fee is equal to 5% of the inactivity fee base, which is defined as the Merchant Account balance as at the last Tuesday of the month when a Merchant is classified as an Inactive Merchant.