Liability Shift definition

Liability Shift means the change in financial responsibility, to either a merchant or bank should a fraudulent transaction take place.
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Liability Shift means that the Issuing Bank will not be in a position to chargeback a Card Transaction to you,subject to you complying with all EMV conditions and processes as stipulated herein.
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Liability Shift means that, when a merchant is enrolled in the 3DSecure programme, the burden of proof for qualifying e-commerce transactions shifts from the acquiring bank and its merchant to the card issuer;
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Examples of Liability Shift in a sentence

  • Whether an invoice falls before or after the Chargeback Liability Shift Date shall be determined by reference to the date on the wholesaler invoice to its customer.

  • The “Chargeback Liability Shift Date” shall be the number of Business Days after the Closing Date equal to the Days of Channel Inventory on the Closing Date.

  • The obligations of the parties for chargebacks will be allocated based on the setting of a Chargeback Liability Shift Date with chargebacks on wholesaler invoices to their customers dated before the Chargeback Liability Shift Date being the obligation of Spectrum, and chargebacks on wholesaler invoices to their customer sent on or after that date being the responsibility of Purchaser.

  • The obligations of the parties for chargebacks will be allocated based on the setting of a Chargeback Liability Shift Date with chargebacks on wholesaler invoices to their customers dated before the Chargeback Liability Shift Date being the obligation of Bayer, and chargebacks on wholesaler invoices to their customer sent on or after that date being the responsibility of Purchaser.

  • APPLICABLE ONLY TO CLIENTS USING BLACKBAUD MERCHANT SERVICES FOR CARD-PRESENT TRANSACTIONS WITH ALTRU, BLACKBAUD MOBILEPAY, THE BLACKBAUD MERCHANT SERVICES VIRTUAL TERMINAL, OR THE PATRON EDGE: Transactions where a credit or debit card with an embedded chip is used for card-present swiped transactions on or after October 1, 2015 are subject to the Payment Networks’ 2015 U.S. Fraud EMV Liability Shift (the “EMV Liability Shift”).

  • APPLICABLE ONLY TO CLIENTS USING BLACKBAUD MERCHANT SERVICES FOR CARD-PRESENT TRANSACTIONS WITH ALTRU, BLACKBAUD MOBILEPAY, THE BLACKBAUD MERCHANT SERVICES VIRTUAL TERMINAL, OR THE PATRON EDGE: Transactions where a credit or debit card with an embedded chip is used for card -present swiped transactions on or after October 1, 2015 are subject to the Payment Networks’ 2015 U.S. Fraud EMV Liability Shift (the “EMV Liability Shift”).

  • Dur ing such time, Blackbaud will reimburse You the cost of chargebacks up to $1,000 per card -present machine-read transaction subject to the EMV Liability Shift (such chargebacks include those with the following chargeback codes: American Express codes F30 an d F31; Discover Card codes UA05 and UA06; MasterCard codes 70 and 71; and Visa codes 62, 70, and 81).

  • During such time, Blackbaud will reimburse You the cost of chargebacks up to $1,000 per card -present machine- read transaction subject to the EMV Liability Shift (such chargebacks include those with the following chargeback codes: American Express codes F30 and F31; Discover Card codes UA05 and UA06; MasterCard codes 70 and 71; and Visa codes 62, 70, and 81).

  • APPLICABLE ONLY TO CLIENTS USING BLACKBAUD MERCHANT SERVICES FOR CARD- PRESENT TRANSACTIONS WITH ALTRU, BLACKBAUD MOBILEPAY, THE BLACKBAUD MERCHANT SERVICES VIRTUAL TERMINAL, OR THE PATRON EDGE: Transactions where a credit or debit card with an embedded chip is used for card - present swiped transactions on or after October 1, 2015 are subject to the Payment Networks’ 2015 U.S. Fraud EMV Liability Shift (the “EMV Liability Shift”).

  • You are protected under the Liability Shift rule for any unauthorized transaction(s) should your Card details be compromised while using your Card on a terminal that is not EMV compliant or on a non 3D secure internet merchant.


More Definitions of Liability Shift

Liability Shift means that the Issuing Bank will not be in a position to chargeback a Card Transaction toyou, subject to you complying with all EMV conditions and processes as stipulated herein. 66. “Lay-By” means a method of retail purchase in which the selected goods are set aside or procured for future delivery and the Customer pays for them in installments, receiving them when fullypaid. 67. “LaybyApplication" means the Customer’s application to receive goods on Lay-By, processed through us. 68. “Loan” means the approved and contracted agreement of amount applied for from a Service Provider. 69. “Loan Application” means the Customer’s application for a Purpose-Based Loan from an Alternative Service Provider, initiated by the Customer and processed through us, intended for the Customer topurchase goods or services from you. 70. “Losses” means any and all damages, fees, costs, charges, Chargebacks, expenses, instructions, commitments, disputes, claims, defences, taxes (local or foreign), fines and penalties imposed upon or incurred by a Party, howsoever arising in connection with the other Party,its employees and/or its third-party service providers actions or omissions. 71. “Nedlink Card AcceptanceDevice” means the Card Acceptance Device provided by Nedbank which enables Customers to apply for purposed based finance instore. 72. “Masterpass Enabled App” means an application a Customer installs on a Card Acceptance Device which allows them to load or link Card details and perform a payment by scanning a QR Code or capturing aMasterPass reference number. 73. “MasterPassMerchant Portal” means the interface accessed via a browser that you can use to view MasterPassTransactions and access reports on MasterPass Transactions. 74. “MasterPass Solution” means a service provided to you by us, allowing you to accept payment from Customers using the MasterPass Enabled App to perform and to access the MasterPass MerchantPortal. 75. “Merchant Agreement” means these Terms, Fees Schedule, including the Application Form, FICA schedule, the suretyship agreement (if applicable) and any other appendix thereto entered into betweenthe Parties. 76. “MID” means the “merchant identification number”, the number that we allocate to you. 77. “MoreTyme” means an interest free on-demand product provided by Tyme Bank Limited (registration number 2015/231510/06) that allows a Customer who purchases goods and services from you to only pay a portion of the purchase amount at the time of purchase. The r...
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Liability Shift means that the liability for fraudulent card transactions will pass to the bank that did not make its cards EMV chip compliant and did not upgrade its ATM and POS terminals to chip capability.
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Related to Liability Shift

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.

  • Liability means any liability (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.