Payment settlement entity definition

Payment settlement entity means, in the case of a payment card transaction, a merchant acquiring entity and, in the case of a third party network transaction, a third party settlement organization. A “participating payee” means, in the case of a payment card transaction, any person who accepts a payment card as payment and, in the case of a third party network transaction, any person who accepts payment from a third party settlement organization in settlement of such transaction.
Sample 1Sample 2Sample 3
Payment settlement entity means: (A) in the case of a payment card transaction, the merchant acquiring entity; and (B) in the case of a third party network transaction, the third party settlement organization.38 Such entities generally include banks or other organizations that process credit card transactions on behalf of a merchant and make an interbank transfer of funds to the merchant from a customer.39
Sample 1Sample 2
Payment settlement entity means: (A) in the case of a payment card transaction, the merchant acquiring entity; and (B) in the case of a third party network transaction, the third party settlement organization.38 Such entities generally include banks or other organizations
Sample 1Sample 2

Examples of Payment settlement entity in a sentence

  • Form 1099-K, "Payment Card and Third Party Network Transactions", will display for the following error conditions: • "Payment settlement entity (PSE)" and "Electronic Payment Facilitator (EPF)/Other third party" checkboxes, found under the filers data on the upper left, are both "1".

  • It demands a high accuracy of quality assurance (QA) on the actual beam delivery.

  • Description of products to be purchased: Ninebot by Segway MiniPRO products including Model #s 99997- 00003 and 99997-00004 together with their related accessories.DatedSignature:By and Title The information in this application and in all financial statements submitted in connection herewith is for the purpose of obtaining credit and is represented by the applicant to be true and complete.


More Definitions of Payment settlement entity

Payment settlement entity as used in this document means the banks and other organizations with contractual obligations to make payment to participating payees (merchants) in settlement of payment cards, or third-party settlement organizations.
Sample 1
Payment settlement entity as used in this document means the banks and other organizations with contractual obligations to make payments to participating payees (merchants) in settlement of payment card transactions or third-party network transactions.
Sample 1
Payment settlement entity means, in the case of a payment card transaction, a merchant acquiring entity (defined below) and, in the case of a third party network transaction, the third party settlement organization.26 A “participating payee” means, in the case of a
Sample 1

Related to Payment settlement entity

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Net Settlement Fund means the Settlement Fund less: (i) Court-awarded attorneys’ fees and expenses; (ii) Notice and Administration Expenses; (iii) Taxes; and (iv) any other fees or expenses approved by the Court.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Standard Settlement Period means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.