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.
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Examples of PIN debit in a sentence

  • You agree that all POS terminals operate with unique keys according to PIN debit network requirements.

  • We will process PIN debit Card transactions for you if indicated in the Application or an amendment.

  • For PIN debit Card transactions under Tiered Transaction Pricing, we will assess interchange fees, sponsorship fees, switch fees, and gateway fees as pass through, and other amounts will be included in the Discount Rate and/or Transaction Fee listed on the Application.

  • ATM transactions and PIN debit purchases require the use of a secret code known as a personal identification number or PIN.

  • Additional Provisions for Personal identification number (PIN) debit Cards.

  • In addition, Merchant will be assessed for each PIN debit Card transaction all debit network Interchange fees and other fees, sponsorship, switch and gateway fees.

  • For PIN debit Card transactions, we will assess interchange fees, sponsorship fees, switch fees, gateway fees, our Transaction Fee and other fees.

  • Visa and the Bank Defendants argue that Professor Hausman’s debit monopolization opinion is undermined by a mistaken belief that Visa’s debit HAC rule requires merchants who accept Visa Debit to accept its Interlink PIN debit network.

  • In addition to the charges set forth on the Application, Merchant agrees to pay for all PIN debit network setup fees, chargeback fees and adjustment fees, including but not limited to, late fees that may be imposed by the debit networks.

  • Popmoney Instant Payments facilitates real-time payments via the use of PIN debit card Payment Networks ("Debit Card Payment Networks") such as Accel™ to deliver funds immediately.

Related to PIN debit

  • Debit means a charge or an amount of money somebody must pay. If we debit money to you or debit money to your account, that money is then added to the unpaid balance and the unpaid balance becomes larger. In this case “charge” and “debit” have similar meanings.

  • Card Account means the account maintained with the Bank in respect of the card;

  • 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;

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Debit Card means a card issued by the Financial Institution that allows the holder of the card to deposit cash and/or Instruments or withdraw cash from the Account through an ATM, authorize Transactions on the Account through an ATM, and that operates like an Instrument to purchase goods and services from merchants.

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

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Deposit Liabilities means all of Seller's duties, obligations and liabilities relating to the deposit accounts of the Branches as of the Effective Time (including accrued but unpaid or uncredited interest thereon).

  • ACH means automated clearing house transfers.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category. “Eligible Purchases” These are from purchases of goods and services you make with your account (a) at certain merchants or of specified types listed in the Schedule; and (b) in which a single or multiple items are purchased in the same transaction totaling certain amounts as listed in the Schedule. Each Eligible Purchase may be kept track of separately on your statement and may be treated as its own Balance Category. Eligible Purchase(s) may also be referenced and abbreviated as “Elig Purch” in some locations in the Schedule.

  • Investment Account As defined in Section 3.12(a).

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

  • Card means any card or other account access device we issue for the purpose of accessing your account.

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Credit Card Advance Rate means 90%.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Subscription Accounting means an accounting of all subscriptions for Shares received and accepted by Broker as of the date of such accounting, indicating for each subscription the Subscriber’s name, social security number and address, the number and total purchase price of subscribed Securities, the date of receipt by Broker of the Cash Investment Instrument, and notations of any nonpayment of the Cash Investment Instrument submitted with such subscription, any withdrawal of such subscription by the Subscriber, any rejection of such subscription by Broker, or other termination, for whatever reason, of such subscription.

  • Credit Card Issuer means any Person (other than a Loan Party) who issues or whose members issue credit cards or debit cards, including, without limitation, MasterCard or VISA bank credit or debit cards or other bank credit or debit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Xxxxx Xxxxxxx and other non-bank credit or debit cards, including, without limitation, credit or debit cards issued by or through American Express Travel Related Services Company, Inc. or Discover Financial Services, Inc.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Accounts means all presently existing and hereafter arising accounts, contract rights, and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by Borrower, whether or not earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower's Books relating to any of the foregoing.