Payment Facilitator definition

Payment Facilitator means a third party which facilitates payments, including without limitation, payment system infrastructure, communications, clearing and other payment service providers, and intermediary, agent and correspondent banks.

Payment Facilitator means a third-party agent that may do the following: Sign a merchant acceptance agreement on behalf of an acquirer;

Payment Facilitator. “Launchpay,” or “we” refers to Launchpay LLC.

Examples of Payment Facilitator in a sentence

• Upon Bank’s receipt of Transaction Data, Payment Facilitator will process such Transaction Data to facilitate transfer of funds from the various Card Networks for the Card sales.

• Company represents to Bank that Company does not have access to Card information (such as the Cardholder Card account numbers, Card expiration dates, or security codes) nor will Company request access to any such Card information from Cardholders, Bank or Payment Facilitator.

• If your business model requires you to accept the Card on behalf of third parties: For the purposes of this Agreement you are a Payment Facilitator and you must not accept the Card under this Agreement.

• Company represents to Bank that Company does not have access to Card information (such as the Cardholder’s Card account number, expiration date, and CVV2) and Company will not request access to such Card information from Bank or Payment Facilitator.

• In the event Company’s Transaction volume exceeds a total of one million dollars ($1,000,000), Company will be required to enter a separate merchant processing contract with Payment Facilitator and/or its sponsor bank.

More Definitions of Payment Facilitator

Payment Facilitator means an entity that is registered with a credit card system by an Acquirer to facilitate transactions on behalf of Sponsored Merchants, and receives settlement of transaction proceeds from the Acquirer on behalf of the Sponsored Merchants.

Payment Facilitator means an entity whose business model provides that it accepts the Card on behalf of third parties. Formerly referred to as “Payment Aggregator”, “Payment Service Provider” or “PSP” in our materials. Terms and Conditions for American Express® Card Acceptance August 2024

Payment Facilitator means Payswiff, platform provider (includes Source Code and Object Code, any upgrades, modified versions, updates, and additions thereto, in any form and on any media including all fixes, updates, modifications, enhancements and new releases of the foregoing) in association with multiple payment brands acquiring banks, card scheme, switching solutions providers and nodal bank for the purpose of merchant on-boarding, device configuration, pricing configuration, payment processing, reconciliations and settlements for the transactions processed. This platform is governed by rules, regulations and the guidelines stipulated by all the parties associated in offering this solution and Reserve Bank of India.

Payment Facilitator means a business provider that provides the service of receiving payment via electronic card by receiving or sending electronic card payment transaction to an acquirer or another payment facilitator, as the case may be. Then the payment facilitator will pay for goods or services to a merchant, service provider or another payment facilitator, who has a mutual service agreement regarding electronic card payment as upon conditions.

Payment Facilitator means a payment service provider that offers payment facilitation services; “Payment instruction” means an order to make a payment or transfer funds;

Payment Facilitator means a service provider or the Merchant registered by the Bank to facilitate the acquiring of Card Transactions by the Bank from the Submerchant under the Payment Facilitator Program Service;

Payment Facilitator means an entity that is registered with a credit card system by an Acquirer to facilitate transactions on behalf of Sponsored Merchants.