Processing Mechanism definition

Processing Mechanism means the payment mechanism through the internet or such other mode of payment and delivery as may be notified by RapiPay from time to time, including but not limited to Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and/or UPI (defined hereinafter).
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Processing Mechanism means the payment mechanism through any permissible mode of payment and delivery as may be notified by Ujjivan SFB from time to time, including but not limited to Immediate Payment Service (“IMPS”), National Electronic Funds Transfer (“NEFT”), Real Time Gross Settlement (“RTGS”) and/or UPI (defined hereinafter).
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Processing Mechanism means the mechanism utilizing the payment channels of the Payment Service Providers through Bank Services and/or through such other modes and mechanisms of payment, as may be notified by Bank from time to time;
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Examples of Processing Mechanism in a sentence

  • Entity also agrees that it shall protect the technology and the proprietary software of NDML/Third Party Service Provider and the Processing Mechanism.

  • Subject to the provisions of Clause 4.2 and 4.3 below, NDML agrees to release due payments to Entity directly or through its Third Party Service Provider of the amounts collected through valid and successful transactions conducted using the Processing Mechanism, after deductions of NDML’s Fees including service tax, duties and any other levies and other dues (including any refunds / adjustments processed on account of Entity Citizen Payment Amount(s) during the period).

  • Phase 2 also includes a maintenance and storage yard facility near Dulles Airport, wayside facilities (including traction power substations, tiebreaker stations, and stormwater management ponds along the alignment), 5 new parking facilities with a total of 8,900 parking spaces, and sixty-four new railcars.

  • Entity shall ensure that that neither it nor any of its employees are privy to any information relating to Citizen details and information relating to passwords/pins and other private matters in respect of the Processing Mechanism.

  • Notwithstanding the aforesaid, Entity assures and guarantees to NDML the due performance of all Citizen Orders for which the payment has been transferred through the Processing Mechanism.

  • Income includes wage, profit or other income from labour, pensions or social security.

  • Subject to the terms and conditions hereinafter contained and in consideration of the payment of the Fees set out in Clause 3 of the Agreement, NDML shall by itself or in association with its Third Party Service Provider provide to Entity, services of providing the Processing Mechanism for obtaining Authentication and Authorisation of payments by Citizens from time to time (these services are hereinafter referred to as ‘Payments Services’).

  • NDML’s sole obligation and Entity’s sole and exclusive remedy in the event of interruption to the Services or loss of use and/or access to NDML’s Site and/or the Payment Gateway Providers facilities / services, shall be to use all reasonable endeavors to restore the Services and/or access to the Processing Mechanism as soon as reasonably possible.

  • Entity shall satisfy itself with the quality of the integration and the connectivity prior to the installation of the same and any Orders being placed through the Processing Mechanism.

  • A multi-agency focus group of frontline practitioners will also be held just before the launch and 6 months later to explore changes.


More Definitions of Processing Mechanism

Processing Mechanism means the payment mechanism through the internet utilizing the Payment Gateway Networks of Acquiring Banks including steps relating to Authentication and Authorisation for the purpose of effecting the transfer of funds from the Customer’s account to PSP’s nodal account followed by settlement of such funds to the Merchant’s account.
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Related to Processing Mechanism

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Switched Access Detail Usage Data means a category 1101xx record as defined in the EMI iconectiv Practice BR 010-200-010.

  • Automated external defibrillator means a defibrillator device to which all of the following apply:

  • settlement system means a system established and operated by the Bank to facilitate the transfer of funds for the discharge of payment and settlement obligations between system participants;

  • Supply Chain Disruption means an inability by the Contractor to obtain goods or services from third parties necessary to perform the Work of the Contract within the schedule specified therein, despite the Contractor making all reasonable commercial efforts to procure same. Contractors are advised that increased costs do not, in and of themselves, amount to a Supply Chain Disruption;