Merchant Order Number definition
Merchant Order Number means a unique reference number assigned by a Merchant to a Buyer for a FPX transaction. “Operational Procedures” means the Operational Procedures for FPX which are prescribed and issued by FPX Operator and will include any variation, addition, amendment or modification made from time to time. “Participant” means the Participant as defined in the Participation Rules, acting as Buyer Bank / the Bank / Exchange Bank / Third Party Acquirer. “Payment” means an order from a Buyer to its Buyer Bank directing the Buyer Bank to: Draw funds from the Buyer’s bank account via Internet Banking; and Transmit payment confirmation message to FPX system to perform crediting of funds to the Bank to pay a Merchant for a successful FPX transaction. "Refund” means an occurrence when a Merchant rebates all, or a portion, of an original transaction amount to the Buyer using FPX Webview. Refunds can only be initiated for successful FPX transactions. Refunds can only be made to the same bank account that was used for the original FPX transaction.