Payment Initiation definition

Payment Initiation. ) means a Payment Order to execute a single Outgoing Credit Transfer, submitted to the Bank via another payment service provider. It may only be presented to the Bank for execution in relation to the Payment Account to which the Bank provides the Client with the Direct Banking Services, namely Internet Banking. With regard to its authorization or execution, some limitations (such as spending limits) and time limits for the execution of Payment Transactions, such as for Payment Orders submitted via Internet Banking, apply. A User who is entitled to place and authorize the same types of Payment Orders via Internet Banking is entitled to make and authorize Indirectly Given Payment Orders.

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Payment Initiation means an online service to initiate a payment order at the request of the Service” payment service user with respect to a payment account held at another payment service provider; “Payment Initiation is a payment service provider who supplies a Payment Initiation Service; Service Provider” or (“PISP”)

Payment Initiation means initiate a Payment Order at the request of the

Examples of Payment Initiation in a sentence

• Nuapay shall operate as a Payment Initiation Service Provider (PISP).

• This is also the case for transactions you have initiated via a Payment Initiation Service Provider.

• Payment Initiation Services – an online service which accesses your Monese Account to initiate the transfer of funds on your behalf.

• Authorised Third Party Provider – Includes Account Information Service Provider and/or Payment Initiation Service Provider.

• Any prompt payment discount will be calculated from the Payment Initiation Date referred to above.

• Scheduled Payment Initiation Dates must be prior to any late date or the end of any grace period.

• If the order for debiting the account is transmitted to the Bank by the payee or through the payment services provider of the payee or through the Payment Initiation Services Provider, it cannot be revoked after the point in time when the Customer or/and the Enterprise gives his consent for the execution of the payment transaction.

• You are responsible for any late charge, finance charge, penalty or default or other consequence that may result from your selecting a Payment Initiation Date later than the due date.

• If the actual due date falls on a non-Business Day, you must select a Payment Initiation Date that is at least one (1) Business Day before the actual due date.

• If the order pertains to a Direct Debit or the order for debiting the Customer’s account is transmitted to the Bank by the payee (or through the payment services provider of the payee) or through the Payment Initiation Services Provider, the order cannot be revoked without the payee’s consent.

More Definitions of Payment Initiation

Payment Initiation means the preparation of a payment order by gathering information and filling them out in paper or digital form before its receipt and execution by the payer's account-holding payment service provider. A payment initiation can be carried out by the payer's account-holding payment service provider in the case of credit transfer, by the payee's account- holding payment service provider in the case of direct debit, or by a third party payment service provider in either case;

Payment Initiation. “Service Provider”

Payment Initiation. ) means a Payment Order to execute a single Outgoing Credit Transfer, submitted to the Bank via another payment service provider. It may only be presented to the Bank for execution in relation to the Payment Account to which the Bank provides the Client with the Direct Banking Services, namely Internet Banking. With regard to its authorization or execution, some

Payment Initiation means a payment order initiated at the request of an End User from their Source Account to your Account; Source Account – a payment account accessible online which an End User holds with an ASPSP;