Reversed Payment an Inward Payment to the extent that it is fully or partially returned by an Alternative Payment Provider or a bank associated with the Inward Payment or to the extent that any Regulatory Authority requires the return of an Inward Payment, resulting in a financial liability to Worldpay which may include any circumstances where any of the foregoing persons either:
Reversed Payment means a transfer of funds from a Client to the Consolidated Account, whether effected by wire transfer, electronic funds transfer or otherwise, fails or would fail to be completed for any reason, including as a result of insufficient funds, a stop payment order, or a reversal, return or rejection of an order or request to transfer funds through an ACH operator.
Reversed Payment means an Inward Payment to the extent that it is fully or partially returned by an Alternative Payment Provider or a bank associated with the Inward Payment, or to the extent that any Regulatory Authority requires return of an Inward Payment, resulting in a financial liability to Citcon.
Examples of Reversed Payment in a sentence
Upon its occurrence, each Assessment and Reversed Payment represents a debt immediately due and payable by Merchant to Citcon on demand, notwithstanding any termination of this Agreement or the Alternative Acquiring Services.
Without prejudice and in addition to any other rights and remedies available to Citcon under the Agreement, Merchant hereby indemnifies (and will keep indemnified) on demand, defends and holds harmless Citcon from and against any losses Citcon suffers or incurs as a result of, or in connection with any Transaction, Payment, Assessment and/or Reversed Payment.