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.

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 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

Examples of Payment Initiation in a sentence

• You cannot revoke a payment order once it has been received by SweepBank or the Payment Initiation Service Provider if one was used.

• Cashfac PLC is a registered Account Information Service (AIS) and Payment Initiation Service (PIS) Provider (authorised Payment Institution) reference number FRN805666 at xxx.xxx.xxx.xx/xxxxxxxx.

• Prior to the use of the payment initiation service through the SweepBank Mobile App, you shall give your consent to SweepBank to execute a payment transaction through the Payment Initiation Service Provider.

• An Account Information Service Provider or a Payment Initiation Service Provider.

• Mastercard Payment Initiation Services Provider Personal Details/Personal Data Mastercard Europe sprl, the payment network applicable to the Card.

• You have the right to make use of a Payment Initiation Service Provider (a payment service provider which initiates a payment order at your request with respect to SweepBank bank accounts) in accordance with Section 38 a of the Payment Services Act to issue a payment order to SweepBank.

More Definitions of Payment Initiation

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;

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”