PIN debit definition

PIN debit means a method of electronic card payment by which consumers purchase goods and services from merchants by swiping a bank card at a point-of-sale terminal and entering a PIN on a numeric keypad, upon which the purchase amount is debited from the customer’s bank account and transferred to the retailer’s bank.
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PIN debit means a method of electronic card payment by which consumers purchase goods and services from merchants by swiping a bank card at a point-of-sale terminal
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PIN debit a transaction using a Debit Card where a Cardholder-enters a PIN via a PIN Pad. Reserve: funds that are otherwise payable to you which we hold to secure your obligations under this Agreement, pursuant to Section 17 of this Agreement. The Reserve may also refer to other collateral that you may provide to us to secure such obligations. References to “Reserve Account” shall refer to our records and accounting of such funds or other collateral.
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Examples of PIN debit in a sentence

  • A reversal or void must be initiated at the same Merchant identified on the PIN- Debit Sales Draft at which the original sale was initiated, but it need not be initiated at the same POS terminal.

  • For any Contractor that processes PIN Debit Cards, payment card devices supplied by Contractor shall be validated against the PCI Council PIN Transaction Security (PTS) program.

  • A merchant may also be permitted to route a transaction through as a PIN Debit without requiring you to enter your PIN even when your card is present.

  • For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa Debit Card transactions are not applicable to transactions processed on a PIN- Debit Network.

  • Agent and the Processing Partner (if applicable) shall process and settle Merchant’s PIN Debit Card transactions.

  • Cash Withdrawals POS PIN Debit Purchase - with Cash Back Free Limits on the amount of cash you can withdraw per transaction vary, ask your merchant for details.

  • PIN Debit Purchase Transaction Fee Free Transactions at merchant where PIN is used.

  • This means you may use your Visa Debit Card on a non- Visa network (also known as a PIN- Debit Network) without using a PIN to authenticate your transactions.

  • In addition to the above terms and conditions, Merchant may contract to accept PIN Debit transactions.

  • Even if You elect not to accept Non-PIN Debit Card transactions as provided herein, subject to Section 28, You may still accept PIN Debit Card transactions if You have signed up for PIN Debit Card Services.


More Definitions of PIN debit

PIN debit a transaction using a Debit Card where a Cardholder enters a PIN via a PIN Pad. Reserve: funds that are otherwise payable to you which we hold to secure your obligations under this Agreement, pursuant to Section 17 of this Agreement. The Reserve may also refer to other collateral that you may provide to us to secure such obligations. Reserve Account: our records and accounting of such funds or other collateral. Security Failure: (a) a failure of your computer systems' security to prevent computer data infiltration, (b) theft of your hardware or firmware on which data is stored or processed, (c) theft of your passwords or access codes, or
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Related to PIN debit

  • Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • ACH means automated clearing house transfers.

  • Card means the Visa credit card and any duplicates, renewals, or substitutions the Credit Union issues to you; "account" means your Visa credit card line-of-credit account with the Credit Union; and "Credit Union" means the Credit Union whose name appears on this Agreement or anyone to whom the Credit Union transfers this Agreement.