Recurring Transaction definition

Recurring Transaction means a regular payment collected from your Card by an originator, in line with your instruction.

Recurring Transaction means Transactions that occur where you have an ongoing signed authority from the Cardholder to process Transactions against a Cardholder’s Credit Card, scheme debit or charge card account (as applicable).

Recurring Transaction means a repetitive periodic Transaction agreed in writing and in advance between you and the Buyer for which you debit the Buyer’s Card (such as subscriptions or instalments);

Examples of Recurring Transaction in a sentence

• The Merchant must retain evidence of such consent for eithteen (18) months from the date the last Recurring Transaction is submitted by the Merchant.

• In the event a Recurring Transaction is renewed, the Cardholder shall complete and deliver to You a subsequent order form for continuation of such goods or services to be charged to the Cardholder’s account.

• A Recurring Transaction may not include partial payments made to You for goods or services purchased in a single Transaction, nor may it be used for periodic payments of goods or services on which You assess additional finance charges.

• You must not complete an initial or subsequent Recurring Transaction after receiving a cancellation notice from the Cardholder, the Card Issuer, the Bank or other party or a response that the Approved Card is not to be honored.

• Before submitting the first Recurring Transaction, the Merchant must (i) obtain the Cardholder's consent to charge their Card for the same or different amounts at specified or different times; and (ii) notify the Cardholder that they are able to discontinue the Recurring Transaction at any time.

More Definitions of Recurring Transaction

Recurring Transaction means an agreement between you and a supplier that allows the supplier to ask us to make payments to them from your Card Account on a regular basis.

Recurring Transaction means a Transaction authorised by a customer to be processed at periodic intervals, for example, weekly, monthly, annually, until it expires or is cancelled.

Recurring Transaction means a regular payment (other than a direct debit or standing order) collected from your account by a third party e.g. magazine and television subscriptions.

Recurring Transaction means multiple Transactions processed at predetermined intervals not to exceed one year between Transactions, representing an agreement between you and a Cardholder to purchase goods or services over a period of time;

Recurring Transaction means a card transaction where a cardholder authorises you to debit their account on a periodic, recurring basis. refund means a refund you make to the cardholder regarding a card transaction, which will fully or partly reverse it.

Recurring Transaction means Transactions which have been pre-authorized by the Cardholder and for which the goods or services are to be delivered or performed in the future by Merchant without having to obtain approval from the Cardholder each time.

Recurring Transaction means continuous debit transactions that are debited from your account at agreed interval authorised by you