Merchant Processing Business definition

Merchant Processing Business has the meaning set forth in Section 3.6.
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Merchant Processing Business means, with respect to any Person, the business of providing Merchant Services.
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Merchant Processing Business means the business of providing to merchants (directly or through others) authorization, data capture, processing, settlement and chargeback services with respect to transactions (other than those involving cash advances) involving credit and debit cards issued by members of, and bearing the brands of, Visa U.S.A., Inc., Visa International (collectively “Visa”), MasterCard International Incorporated (“MasterCard”), Maestro and Interlink, and certain authorization, data capture and processing services with respect to transactions involving credit cards issued by Diners Club/▇▇▇▇▇ ▇▇▇▇▇▇▇, American Express, Discover Card, Japanese Credit Bureau and such other cards as the parties may mutually agree and certain related services and products.
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Examples of Merchant Processing Business in a sentence

  • Processing information relating to merchant bankcard transactions and related services provided to merchants that are Merchant Processing Business customers of the Partnership will be the Partnership’s property.

  • To the Knowledge of Buyer, there is no Litigation pending or threatened against Buyer or involving or arising in connection with Buyer's Merchant Processing Business, which questions or challenges the validity of this Agreement or the other Operative Documents or any action taken or to be taken by Buyer pursuant hereto or thereto or the consummation of the transactions contemplated hereby or thereby.

  • Buyer is in compliance with the rules and regulations of the Credit Card Associations that are applicable to its Merchant Processing Business, except where the failure to be in compliance would not reasonably be expected to have a Material Adverse Effect on Buyer.

  • With respect to Buyer's Merchant Processing Business generally, Buyer is not in violation of any applicable Law, Order or Permit, except such violations as are not reasonably likely to have a Material Adverse Effect on Buyer.

  • Except as set forth on Schedule 5.28(b), Company has not received any written notice that any current Material Merchant intends to cancel any Material Contract or materially reduce the level of Merchant Processing Business such Customer conducts with the Company or its Affiliates.

  • The purpose of the Partnership shall be to engage in the Merchant Processing Business.

  • Company owns or has the valid right to use all Assets necessary for the Company’s operation of the Merchant Processing Business.

  • Additional Capital Contributions other than one that is required pursuant to the JV Agreement to fund the required purchase of a portfolio of Merchant Processing Business may not be required without the other Partner’s written consent.

  • Both Parent, Seller and GCS, on the one hand, and Buyer, on the other hand, are engaged in the Merchant Processing Business, including the business of providing Merchant Services to commercial establishments which accept Credit Cards, Private Label Cards, Gift Cards, Travel and Entertainment Cards, Debit Cards and other Financial Transaction Devices.

  • Buyer owns or validly holds all Permits that are required in connection with the conduct of Buyer's Merchant Processing Business, except such Permits as are not reasonably likely to have a Material Adverse Effect on Buyer.