Merchant Processing Business definition

Merchant Processing Business has the meaning set forth in Section 3.6.
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Merchant Processing Business means the business of processing credit card and other financial payments for a merchant.
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Merchant Processing Business means the business of providing to merchants (directly or through others) authorization, data capture, processing, settlement and chargeback services with respect to transactions (other than those involving cash advances) involving credit and debit cards issued by members of, and bearing the brands of, Visa U.S.A., Inc., Visa International (collectively “Visa”), MasterCard International Incorporated (“MasterCard”), Maestro and Interlink, and certain authorization, data capture and processing services with respect to transactions involving credit cards issued by Diners Club/Xxxxx Xxxxxxx, American Express, Discover Card, Japanese Credit Bureau and such other cards as the parties may mutually agree and certain related services and products.
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Examples of Merchant Processing Business in a sentence

  • Processing information relating to merchant bankcard transactions and related services provided to merchants that are Merchant Processing Business customers of the Partnership will be the Partnership’s property.

  • The purpose of the Partnership shall be to engage in the Merchant Processing Business.

  • Company owns or has the valid right to use all Assets necessary for the Company’s operation of the Merchant Processing Business.

  • Both Parent, Seller and GCS, on the one hand, and Buyer, on the other hand, are engaged in the Merchant Processing Business, including the business of providing Merchant Services to commercial establishments which accept Credit Cards, Private Label Cards, Gift Cards, Travel and Entertainment Cards, Debit Cards and other Financial Transaction Devices.

  • Additional Capital Contributions other than one that is required pursuant to the JV Agreement to fund the required purchase of a portfolio of Merchant Processing Business may not be required without the other Partner’s written consent.

  • With respect to Buyer's Merchant Processing Business generally, Buyer is not in violation of any applicable Law, Order or Permit, except such violations as are not reasonably likely to have a Material Adverse Effect on Buyer.

  • Buyer owns or validly holds all Permits that are required in connection with the conduct of Buyer's Merchant Processing Business, except such Permits as are not reasonably likely to have a Material Adverse Effect on Buyer.

  • To the Knowledge of Buyer, there is no Litigation pending or threatened against Buyer or involving or arising in connection with Buyer's Merchant Processing Business, which questions or challenges the validity of this Agreement or the other Operative Documents or any action taken or to be taken by Buyer pursuant hereto or thereto or the consummation of the transactions contemplated hereby or thereby.

  • Buyer is in compliance with the rules and regulations of the Credit Card Associations that are applicable to its Merchant Processing Business, except where the failure to be in compliance would not reasonably be expected to have a Material Adverse Effect on Buyer.

Related to Merchant Processing Business

  • banking business means the business of accepting deposits withdrawable or repayable on demand or after a fixed period or after notice and the employment of those deposits, in whole or in part, by lending or any other means for the account and at the risk of the person accepting the deposits;

  • Processing Services means those services, which are necessary to issue a Card and process a transaction in accordance with Government Requirements and the Rules of any System and Regulatory Authority. Such services shall include but not be limited to: set-up and maintenance of the Card and Cardholder Funds, transaction authorization, processing, clearing and Settlement, System access, Cardholder dispute resolution, System compliance, regulatory compliance, security and fraud control, and activity reporting.

  • Data Processing shall have the same meaning as set out in the DPA.

  • Doing business means engaging in any activity, whether legal or illegal, that is conducted

  • Retail customer means any person that purchases retail electric energy for its own consumption at

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Processing Plant means plant systems, located on or off the Leased Premises, that include a gas processing plant, natural gasoline plant, gasoline plant, or other plant where raw unprocessed natural gas is processed to remove or extract Raw Mix from the natural gas stream to produce a Pipeline- Quality Natural Gas or Residue Gas and other products, and the Raw Mix is then either (i) separated by fractionation down to its base components prior to storage and/or transport that meets or conforms to all applicable Gas Processors Association (GPA) Standards and/or Specifications for the commercial sale of each liquefiable hydrocarbon product, or (ii) transported to another plant for separation down to its base components by fractionation prior to storage and/or transport for the commercial sale of each liquefiable hydrocarbon product. Any deductions, costs, or processing fees associated with the removal or recovery of Natural Gas Liquids is strictly limited to only that part of any Processing Plant or facility where Raw Mix is recovered, and if applicable at that plant, also fractionated to their component parts.

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services. (C) The term "Managerial Responsibilities" for purposes of this Unit Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the same as that Grantee is performing for SunTrust or a SunTrust Affiliate on the date of this Unit Agreement. (D) The term "SunTrust Affiliate" for purposes of this Unit Agreement shall mean any corporation which is a subsidiary corporation (within the meaning of §424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under §424(f) of the Code exclusively as a result of SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. (E) The term "Territory" for purposes of this Unit Agreement shall mean the states of Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia, which are the states and Territories in which SunTrust has significant operations on the date of this Unit Agreement. (F) "Trade Secret" for purposes of Unit Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from it is disclosure or use, and (ii) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy.

  • Related Services means the services incidental to the supply of the goods, such as insurance, delivery, installation, commissioning, training and initial maintenance and other such obligations of the Supplier under the Contract.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • wholesale customer means a natural or legal person purchasing electricity for the purpose of resale inside or outside the system where he is established;

  • household customer means a customer purchasing electricity for his own household consumption, excluding commercial or professional activities;

  • Cable Services means (1) the one-way transmission to Subscribers of (a) video programming, or (b) other programming service, and (2) Subscriber interaction, if any, which is required for the selection or use of such video programming or other programming service.

  • Goods/Services means the goods and/or services detailed in the Purchase Order issued by Versuni Supplier; “Intellectual Property Rights” (or “IPR”) means all intellectual property rights of any nature applied for or existing anywhere in the world for their full term and together with any revivals, renewals or extensions. “Purchase Order” means the Versuni purchase order issued by Versuni to procure Goods/Services from the Supplier, to which these conditions are attached by reference;;

  • Goods and Services or "goods or services" means any work, labor, commodities, equipment, materials, or supplies of any tangible or intangible nature, except real property or any interest therein, provided or performed through a contract awarded by a purchasing agent, including goods and property subject to N.J.S.A. 12A:2-101 et seq.

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.