Merchant Discount Rate definition
Merchant Discount Rate is the fee, expressed as a percentage of the total transaction amount, that a merchant pays to its acquirer or processor for transacting on a Credit Card brand. For purposes of Paragraph 42(a), Merchant Discount Rate includes (x) the interchange rate, network set fees associated with the processing of a transaction, network set fees associated with the acceptance of the network’s brand, and the acquirer set processing fees associated with the processing of a transaction, irrespective of whether such fees and costs are paid via the merchant discount or by check, withholding, offset, or otherwise; and
Merchant Discount Rate means, with respect to each Receivable, the rate a Merchant has agreed to pay for Sezzle services.
Merchant Discount Rate or “MDR” means with respect to each transaction amount a percentage thereof as specified in the application. Provided however that the Merchant Discount Rate may be revised from time to time by RapiPay and RapiPay will intimate merchant of any such change not less than 3 calendar days in advance of its effectiveness.
Examples of Merchant Discount Rate in a sentence
The Merchant Discount Rate, Authorization Fees and Transaction Fees are set forth on Schedule A.
The Merchant Discount Rate that we will apply to your Transactions will vary depending on whether the Transaction is a “qualifying” Transaction or a “non-qualifying” Transaction in accordance with the applicable Card Association Rules.
For your “non-qualifying” Transactions, we will apply the Qualified Merchant Discount Rate plus the Non-Qualified Adjustment (as listed on the Fee Schedule).
We will apply the Qualified Merchant Discount Rate (as listed on the Fee Schedule) to your “qualifying” Transactions.
If the actual volume or average transaction size are not as expected, or if you significantly alter your method of doing business, Servicers may adjust your Merchant Discount Rate and upon 90 days advance notice.
More Definitions of Merchant Discount Rate
Merchant Discount Rate is the fee, expressed as a percentage of the total transaction amount, that a merchant pays to its acquirer or processor for transacting on a Credit Card brand. For purposes of Paragraph 55(a), Merchant Discount Rate shall include (x) the interchange rate, network set fees associated with the processing of a transaction, network set fees associated with the acceptance of the network’s brand, and the acquirer set processing fees associated with the processing of a transaction, irrespective of whether such fees and costs are paid via the merchant discount or by check, withholding, offset, or otherwise; and (y) any other services for which the acquiring bank is paid via the mechanism of the per transaction merchant discount fee. Other than the fees listed in subpart (x) of the preceding sentence, the Merchant Discount Rate excludes any fees (such as the cost of rental of point-of-sale terminal equipment, for example) that are invoiced separately or not paid via the mechanism of the per transaction merchant discount fee. “MasterCard Credit Card” is any Credit Card that bears or uses the name MasterCard or is branded or licensed by MasterCard. “MasterCard Credit Card Cost of Acceptance” is the average effective interchange rate plus the average of all fees imposed by the network upon acquirers or merchants, expressed as a percentage of the transaction amount, applicable to MasterCard Credit Card Transactions at the merchant for the preceding one or twelve months, at the merchant’s option. If a merchant cannot in which: determine its MasterCard Credit Card Cost of Acceptance, then the Merchant may use the MasterCard Credit Card Cost of Acceptance for the merchant’s merchant category as published no less than two times each year on MasterCard’s website.
Merchant Discount Rate is the fee, expressed as a percentage of the total transaction amount, that a merchant pays to its acquirer or processor for transacting on a Credit Card brand. For purposes of Paragraph 42(a), Merchant Discount Rate shall include (x) the interchange rate, network set fees associated with the processing of a transaction, network set fees associated with the acceptance of the network’s brand, and the acquirer set processing fees associated with the processing of a transaction, irrespective of whether such fees and costs are paid via the merchant discount or by check, withholding, offset, or otherwise; and (y) any other services for which the acquiring bank is paid via the mechanism of the per transaction merchant discount fee. Other than the fees listed in subpart (x) of the preceding sentence, the Merchant Discount Rate excludes any fees (such as the cost of rental of point-of-sale terminal equipment, for example) that are invoiced separately or not paid via the mechanism of the per transaction merchant discount fee.
Merchant Discount Rate has the meaning set forth in Section 11(a).
Merchant Discount Rate means a pricing model applied to the merchant and TE supports two types of pricing models: Interchange ++ Pricing Model – a dynamic pricing model which is based on real cost of the processing of a transaction. The fee paid by merchant will consist of: Interchange, Card Scheme Fee and Processing Service Fee; Blended Pricing Model – the merchant discount rate is a fixed percentage of the transaction value. The applied discount rate may depend on the Region of the Issuer.
Merchant Discount Rate means a fee in form of a percentage (%) of the Transaction amount, as set out in the Annex 1 (Services Fees) to the Merchant Agreement.
Merchant Discount Rate or “MDR” shall mean the percentage rate agreed between AUB and the Merchant, as indicated in the signed Conforme Sheet. The MDR is used to calculate the Merchant Fee;
Merchant Discount Rate or “MDR” or “Transaction Fee” is