Third party settlement organization definition

Third party settlement organization means the central organization which has the contractual obligation to make payment to participating payees of third party network transactions.43,44 The most common example of a third-party settlement organization is an online auction-payment facilitator, which operates merely as an intermediary between buyer and seller by transferring funds between accounts in settlement of an auction/purchase.45
Third party settlement organization means the central organization which has the contractual obligation to make payment to participating payees of third party network transactions.41,42 These organizations include payment services such as PayPal, Venmo, and CashApp.43

Related to Third party settlement organization

  • Procurement organization means an eye bank, organ procurement organization, or tissue bank.

  • ADR Organization means The American Arbitration Association or, if The American Arbitration Association no longer exists or if its ADR Rules would no longer permit mediation or arbitration, as applicable, of the dispute, another nationally recognized mediation or arbitration organization selected by the Sponsor.

  • Business organization means an individual, partnership, association, joint stock company, trust, corporation or other legal business entity or successor thereof.

  • Managed Care Organization (MCO) means a contracted health delivery system providing capitated or prepaid health services, also known as a Prepaid Health Plan (PHP). An MCO is responsible for providing, arranging, and making reimbursement arrangements for covered services as governed by state and federal law. An MCO may be a Chemical Dependency Organization (CDO), Dental Care Organization (DCO), Mental Health Organization (MHO), or Physician Care Organization (PCO).

  • Parent organization means the entity named in Item I. of the Policy Declarations.

  • Organ procurement organization means a person designated by the Secretary of the United States Department of Health and Human Services as an organ procurement organization.

  • Member organization means any individual, corporation, limited liability company, partnership, or association that belongs to an association.

  • Review organization means a disability insurer regulated

  • Self-Regulatory Organization means any association of investment advisers or securities dealers registered under the federal securities laws, or any Exchange.

  • international organization shall have the meanings set forth in Section 7701 of the Code or successor provisions.

  • Educational organization means a nonprofit public or private elementary or

  • Managed care organization means an entity that (1) is under contract with the department to provide services to Medicaid recipients and (2) meets the definition of “health maintenance organization” as defined in Iowa Code section 514B.1.

  • Banking organization means a bank, trust company, savings bank, industrial bank, land bank, safe deposit company, private banker, or any organization defined by law as a bank or banking organization.

  • Provider Organization means a group practice, facility, or organization that is:

  • Tribal organization means the elected governing body of any Indian tribe or any legally established organization of Indians that is controlled by one or more such bodies or by a board of directors elected or selected by one or more such bodies (or elected by the Indian population to be served by such organization) and that includes the maximum participation of Indians in all phases of its activities; and

  • Health care organization ’ means any person or en-

  • Stewardship organization means an organization, association, or

  • Electric power-assisted bicycle means a vehicle that travels on not more than three wheels in

  • Financial organization means any bank, trust company, savings bank, industrial bank, land bank, safe deposit company, private banker, savings and loan association, credit union, cooperative bank, small loan company, sales finance company, investment company, or any type of insurance company.

  • Regional integration organization means an organization constituted by sovereign States of a given region, to which its member States have transferred competence in respect of matters governed by this Convention. Such organizations shall declare, in their instruments of formal confirmation or accession, the extent of their competence with respect to matters governed by this Convention. Subsequently, they shall inform the depositary of any substantial modification in the extent of their competence.

  • Credit union service organization means an organization, corporation, or association whose membership or ownership is primarily confined or restricted to credit unions or organizations of credit unions and whose purpose is primarily designed to provide services to credit unions, organizations of credit unions, or credit union members.

  • Indian organization means the governing body of any Indian tribe or entity established or recognized by the governing body of an Indian tribe for the purposes of 25 U.S.C., chapter 17.

  • Employment services organization means an organization that provides community-based employment services to individuals with disabilities that is an approved Commission on Accreditation of Rehabilitation Facilities (CARF) accredited vendor of the Department of Aging and Rehabilitative Services.

  • Foreign organization means an organization created under laws other than the laws of this state for a purpose for which an organization may be created under the laws of this state.

  • Fraternal organization means an organization, except a school fraternity, which is a

  • Independent review organization means an entity that is accredited to conduct independent external reviews of adverse benefit determinations.