Mistaken Payment definition
Mistaken Payment means an NPP Payment, made by a payer who is a “user” for the purposes of the ePayments Code, which is erroneously credited to the wrong account because of the payer’s error.
Mistaken Payment means a payment instruction to a Merchant for an amount which is not in accordance to the payment instruction or contain errors in the payment instruction resulting in payments being debited from the wrong payer, containing incorrect QR code or reference number with the wrong amount, being duplicated or being not completed or failed.
Mistaken Payment means an electronic transaction performed wholly or predominantly for personal, domestic or household purposes which results in funds being paid into a wrong account, whereby the payer enters or selects a BSB, account number and/or other identifier that does not belong to the named and/or intended recipient as a result of:
Examples of Mistaken Payment in a sentence
To the Knowledge of the Company, (i) each other party to any such IP Contracts has performed all material obligations required to be performed by such party as of the date of this Agreement and (ii) neither the Company nor its Subsidiaries are in default of any such IP Contracts in any material respect.
More Definitions of Mistaken Payment
Mistaken Payment means a payment instruction to a Merchant for an amount which is not in accordance to the payment instruction or contain errors in the payment instruction resulting in payments being debited
Mistaken Payment means a payment, initiated by a Payer, who is a ‘user’, as that term is defined in the ePayments Code, which, as a result of the Payer’s error is directed to the wrong Account.