DOCSLIB.ORG

Acquiring – Terms and Conditions 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Acquiring – Terms and Conditions 2020 Acquiring – Terms and Conditions 2020 nets.eu/payments Contents DEFINITIONS ........................................................................................................................................................................................................................................................................3 1. SCOPE OF THE AGREEMENT ....................................................................................................................................................................................................................5 2. GENERAL REQUIREMENTS APPLICABLE TO THE MERCHANT ...........................................................................................................................................5 3. ACCEPTANCE OF PAYMENT CARDS .....................................................................................................................................................................................................8 4. THE RELATIONSHIP BETWEEN THE MERCHANT AND THE CARDHOLDER ..............................................................................................................10 5. PRICES, PAYMENTS AND SETTLEMENTS ......................................................................................................................................................................................10 6. DISPUTED CARD PAYMENTS ..................................................................................................................................................................................................................11 7. MONITORING, FRAUD, ETC. ......................................................................................................................................................................................................................12 8. CHANGES TO THE AGREEMENT, INCLUDING PRICES .............................................................................................................................................................12 9. LIABILITY, LIMITATION OF LIABILITY AND CLAIMS BY THE CARD ORGANISATIONS ............................................................................................13 10. ASSIGNMENT ...................................................................................................................................................................................................................................................13 11. TERMINATION OF THE AGREEMENT .................................................................................................................................................................................................14 12. DATA PROTECTION .......................................................................................................................................................................................................................................15 13. DUTY OF CONFIDENTIALITY AND DISCLOSURE OF INFORMATION ...............................................................................................................................15 14. CHOICE OF LAW AND DISPUTES .........................................................................................................................................................................................................15 15. SPECIAL TERMS AND CONDITIONS FOR CAR HIRE .................................................................................................................................................................16 16. SPECIAL TERMS AND CONDITIONS FOR HOTELS AND CRUISE LINES .......................................................................................................................17 17. SPECIAL TERMS AND CONDITIONS FOR CASH WITHDRAWALS, PURCHASES OF FOREIGN CURRENCY AND SALES OF CHIPS ................................................................................................................................................................................................................................20 18. SPECIAL TERMS AND CONDITIONS FOR CONTACTLESS PAYMENTS .........................................................................................................................20 19. SPECIAL TERMS AND CONDITIONS FOR STORED CARDS AND APP PAYMENTS .................................................................................................21 20. SPECIAL TERMS AND CONDITIONS FOR RECURRING PAYMENTS ...............................................................................................................................22 21. SPECIAL TERMS AND CONDITIONS FOR DIGITAL WALLET ................................................................................................................................................22 22. SPECIAL TERMS AND CONDITIONS FOR LINK PAYMENT ...................................................................................................................................................23 23. SPECIAL TERMS AND CONDITIONS FOR MERCHANT OUTLETS IN DENMARK ....................................................................................................23 24. SPECIAL TERMS AND CONDITIONS FOR MERCHANT OUTLETS IN FINLAND ........................................................................................................23 25. SPECIAL TERMS AND CONDITIONS FOR MERCHANT OUTLETS IN NORWAY........................................................................................................24 26. SPECIAL TERMS AND CONDITIONS FOR MERCHANT OUTLETS IN SWEDEN .......................................................................................................24 27. SPECIAL TERMS AND CONDITIONS FOR MERCHANT OUTLETS IN COUNTRIES OTHER THAN DENMARK, FINLAND, NORWAY AND SWEDEN .........................................................................................................................................................................26 Acquiring – Terms and Conditions 2 / 27 DEFINITIONS sively operated by the Cardholder, regardless of whether or not 3-D Secure a PIN is used. A method for verifying that the Cardholder is the person mak- Chargeback ing the online Card Payment in question. Collective name for Reversal of an amount which the Cardholder or Card Issuer J/Secure, Mastercard SecureCode, Verified by Visa and Diners disputes. Club International ProtectBuy. Contactless Payments Agreement Payments where the radio transmitter inside the chip in the The agreement between the Merchant and Nets, includ- Payment Card or in a smartphone communicates with the ing the Agreement Form, annexes and appendices, including contactless Payment Card reader in the payment terminal. these terms and conditions, the price list and the Merchant A contactless payment can be made using a Payment Card, a Instructions. smartphone or a micro ID chip installed in a watch, bracelet, etc. Agreement Form Delayed Charging The Agreement Form concluded between the Merchant and Charging of the Cardholder for amounts not known at the time Nets. of the Card Payment’s completion, such as parking fines. App Payments Digital Wallet Card Payments that are performed over the Internet using Card A solution giving the Cardholder the ability to register data relat- Data registered in the Merchant’s mobile application on smart- ing to one or more Payment Cards for the purpose of making phones, tablets, etc. payments to several different companies. Authentication Dynamic Currency Conversion (DCC) A method of verification using a password, a personal secret Conversion of the amount that the Cardholder is to pay from code, etc. the Merchant’s local currency into the Payment Card’s local Authorisation currency. A process verifying that the Card is valid, that there are sufficient E-commerce Transactions funds to make the Card Payment, that the Card is not blocked, Card Payments performed using a payment solution in which and that the amount for the Card Payment will be reserved. the Cardholder orders and pays for the purchase in a webshop. Authorisation Code Electronic Receipt The number generated when performing an Authorisation. A receipt sent to the Cardholder via e-mail or SMS. Card Data EMV The data used to identify a Payment Card, e.g. the card number, A global standard for payments using credit cards and debit expiry date and the Payment Card’s Security Code. cards based on chip card technology. For more information Card Not Present-Transactions please see www.emvco.com. Card Payments that are performed through a payment solu- General Terms and Conditions tion in which the Payment Card’s magnetic stripe, chip or The terms and conditions set out in sections 1–14 of these terms Contactless Payment technology is not read, e.g. E-commerce, and conditions. In the event of conflict between the General Digital Wallet payments, App Payments, Link Payment and Mail Terms and Conditions and the Special Terms and Conditions and Telephone Orders. with regard to a specific situation, the Special Terms and Condi- Card Organisations tions take precedence. The organisations that establish the international rules for Link Payment payment systems and which have issued Nets’ licences for A E-commerce Transaction completed via a process where the acquiring payments made using Payment Cards, e.g. Mastercard Merchant has sent an URL (by e-mail, SMS or otherwise) to the Worldwide, Visa, Japanese Credit Bureau (JCB),UnionPay Inter- Cardholder which directs the Cardholder to a payment
Load more

Recommended publications
  • National Payment System Development Strategy for 2021 – 2023
    NATIONAL PAYMENT SYSTEM DEVELOPMENT STRATEGY FOR 2021 – 2023 Moscow 2021 CONTENTS Introduction .......................................................................................................................... 2 1. Current status of the NPS ............................................................................................... 4 1.1. Regulation ..................................................................................................................................................................................4 1.2. NPS infrastructure .................................................................................................................................................................5 1.3. Payment service providers ................................................................................................................................................9 1.4. Payment service consumers ..........................................................................................................................................10 2. Global and domestic trends and challenges of the payment market ......................13 2.1. Transformation of client experience and consumption models .....................................................................13 2.2. New payment technologies ...........................................................................................................................................13 2.3. New payment market participants .............................................................................................................................14
    [Show full text]
  • Virtual Card Management Service (VCM) Built to Support Payment from Any Device
    Virtual Card Management Service (VCM) Built to support payment from any device EASY DEPLOYMENT Nets’ VCM is designed to easily integrate with your existing payment Fast time to market for platform, ensuring compatibility with your current processes for card mobile payment solutions. management. Payment technologies, schemes, wallet types and Virtual card management in place for easy integration functionalities are included in a single API – making it fast and easy to with your core services. implement, integrate and deploy a strong solution. REACH THIS SERVICE IS BASED ON: 50+ banks already • A personal user experience for your • Full card management on individual virtual on board. Independent of customers through smart customisa- card level in accordance with industry stand- payment technology with ble self-service features. ards. full control and transparen- • A one-stop solution including all • Secure processes for critical card manage- cy from a card is virtualised necessary features for virtual card life ment functions such as card virtualisation, until it expires. cycle management. passcode reset, etc. through integration to customer provided cardholder identification EASY AND SECURE • A highly secure and constantly availa- and authentication security processes. The virtual card ble mobile payment solution ensuring • A fully fledged API to enhance user experi- management service is a reliable solution for your customers. ence based on customer preferences. based on industry stand- ards in addition to PCI DSS • A fast and smooth deployment solu- and PCI CPP compliance tion that integrates with your existing The ability to manage and control virtual cards regarding card management life cycle management process. is crucial for you as a card issuer as it enables and control.
    [Show full text]
  • NETS and Comfortdelgro Launch Convenient In-App Payment for NETS Users
    Media Release NETS and ComfortDelGro launch convenient in-app payment for NETS users NETS Click, the new in-app payment method enables consumers to use NETS bank cards on apps such as the ComfortDelGro Taxi Booking App for seamless and hassle-free payments Singapore, October 31, 2019 – NETS and ComfortDelGro Taxi today announced the launch of NETS’ new in-app payment method for taxi bookings and street hail trips made through the ComfortDelGro Taxi Booking App. Named NETS Click, the initiative enables consumers to use their NETS bank cards from DBS, OCBC and UOB to conveniently pay for both mobile booking and street hail trips with ComfortDelGro taxis via the ComfortDelGro Taxi Booking App. The partnership with ComfortDelGro Taxi marks the first time consumers can store NETS payment details on file to use their NETS bank card as an in-app payment mode. NETS will soon partner with online merchants to integrate NETS Click into their in-app payment process, providing consumers another option when they make payments for their purchases on their mobile devices. To use NETS Click for ComfortDelGro taxi rides, passengers can add their NETS bank card to the ComfortDelGro Taxi Booking App and authenticate their identity with a one- time password sent to their registered mobile number. Subsequently, NETS can be selected as the in-app payment option for ride bookings made via the app or street hail. For street hail trips, passengers would need to select the ‘Pay for Street Hail’ option on the ComfortDelGro Taxi Booking App. When they have boarded the hailed taxi, they may select NETS Click as the payment method on the app.
    [Show full text]
  • ATM & NETS Link Frequently Asked Questions
    ATM & NETS Link Frequently Asked Questions 1. What do you mean by linking of my DBS/POSB current/savings account to my DBS/POSB Credit Card? When you link your DBS/POSB current/savings account to your DBS/POSB Credit Card, ATM and NETS functions are made available on your DBS/POSB Credit Card. 2. What are the benefits of doing the linkage? • Save wallet space with one Card, reduce the need to carry many Cards around. • Perform ATM card functions such as cash withdrawal from your DBS/POSB current/savings account with your DBS/POSB Credit Card. • Enjoy the convenience of NETS with your DBS/POSB Credit Card at more than 70,000 NETS acceptance points. 3. How do I apply for this linkage? You can log into your digibank via internet or mobile banking to apply. You can visit https://www.dbs.com.sg/personal/support/card-application-link-card-to-deposit-account.html for more details. Please allow up to 5 working days for processing. 4. How will I know if the linkage is successful? An SMS or letter will be sent to notify you upon the successful linkage of DBS/POSB current/savings account to your DBS/POSB Credit Card. 5. When I sign for my transactions via American Express®/MasterCard®/Visa on this linked Credit Card, will it be considered as a Credit Card transaction? Yes. When you sign for your transactions with your linked Credit Card, it will be considered a Credit Card transaction. Only when you make NETS transactions, the purchase would be debited from your DBS/POSB current/savings account linked to your DBS/POSB Credit Card.
    [Show full text]
  • Between Evolution and Revolution
    Navigating the payments matrix BetweenCharting aevolution course andamid revolution evolution and Payments to 2025 and Beyond revolution THE FUTURE OF FINANCIAL SERVICES PAYMENTS 2025 & BEYOND 2 | PwC Navigating the payments matrix Foreword Dear reader, The financial-services industry is in the midst of a We are therefore delighted that the first report we are significant transformation, accelerated by the COVID-19 launching in our 2025 & Beyond series focuses on the pandemic. And given the key role digitisation plays payments industry and the key themes that are influencing in the financial lives of more and more of the world’s it. How the industry responds to these trends will define population, electronic payments are at the epicentre of both how successful it is in the coming years and its this transformation. impact on society overall. Payments are increasingly becoming cashless, and We hope that you find these insights helpful and the industry’s role in fostering inclusion has become provocative. Please feel free to reach out to me and my a significant priority. Payments also are supporting colleagues with your comments and feedback. the development of digital economies and are driving innovation—all while functioning as a stable backbone for Sincerely, our economies. Peter C. Pollini Principal, PwC US [email protected] 3 | PwC Navigating the payments matrix Figure 1: Cashless transaction volume will more than double by 2030 Where are Number of cashless transactions in billions 61% we now? GROWTH Total 3,026 82% GROWTH Sending a text to pay for a bus ticket in 1,818 Turkey, using a QR code to buy groceries in China, or tapping a sales terminal with Total 1,882 a mobile phone in the US.
    [Show full text]
  • UOB Visa Account-Based Ticketing (ABT) Staff Pilot
    UOB Visa Account-Based Ticketing (ABT) Staff Pilot Frequently Asked Questions (FAQ) 1. What is the Account-Based Ticketing (ABT) System? The Account-Based Ticketing (ABT) System enables commuters to use their Visa credit or debit cards with contactless function for fare payments. There will be no need for upfront top-ups when using your credit or debit card for fare payments. Similar to any Visa contactless purchases, your bus and train transactions will be processed, accumulated and charged to your credit or debit cards. Commuters will be able to track and view their journey and fare history via the TransitLink ABT Portal or TransitLink Mobile Services app. 2. What are the benefits of the ABT System? The ABT System will eliminate the need for a separate transit card and the hassle of topping up. In addition, the ABT System will enable commuters to track and view their journey and fare history at their convenience via TransitLink ABT Portal or TransitLink Mobile Services app. 3. How do I register for an ABT Account? You will receive a confirmation email from TransitLink for ABT account registration once you have been successfully registered for the ABT pilot. You may visit the TransitLink ABT Portal or download the TransitLink Mobile Services app to register for the ABT Account. You will be required to create a password to login to your account. 4. What if I forget my password? A password self-reset feature is available in the login page of the TransitLink ABT Portal or TransitLink Mobile Services app for you to reset your password.
    [Show full text]
  • Harvard Journal of Law & Technology Timothy H. Ehrlich"
    Harvard Journal of Law & Technology Volume 11, Number 3 Summer 1998 To REGULATE OR NOT? MANAGING THE RISKS OF E-MONEY AND ITS POTENTIAL APPLICATION IN MONEY LAUNDERING SCHEMES :..:~ Timothy H. Ehrlich" INTRODUCTION Consider the situation of a drug kingpin in control of a large narcotics organization. Inevitably, he I would be faced with the question of how to convert the loads of low denomination, "dirty"paper bills (i.e., collected from street sales) into a form that could be easily moved. In addition, he would want to be able to transfer these funds to suppliers and his own bank accounts without revealing the source of the funds to law enforcement agencies. One option criminals often pursue in this situation is to "launder" money. This might involve placing the money into a bank or investment account in the United States and transferring it by wire to criminal accounts all over the world. Alternatively, one might choose to avoid dealing with U.S. financial institutions altogether by loading the money into cargo containers or suitcases and sending them out to foreign countries on ships or commercial airlines, respectively. Interestingly enough, money laundering schemes such as these operated with impunity from the early part of this century up until the late 1970s. 2 Over the last few decades, however, U.S. law enforcement has been somewhat more successful in stopping money laundering activities. 3 In particular, this has resulted from the enactment of federal legislation aimed at preventing money laundering through U.S. banks, enhancing security measl,res at border stations and ports, and advancing surveillance technologies: And yet, despite these efforts, it is still * J.D., Class of 1999, Harvard Law School.
    [Show full text]
  • Contactless Payments Rising
    THOUGHT SERIES Contactless Payments Rising An Investing Trend During Coronavirus Eric Greco, Portfolio Associate Dave Harrison Smith, CFA, Senior Vice President, Domestic Equities November 2020 The rise of digital payments It’s been seven decades since the advent of the modern day credit card in 1950 by the Diners Club. Since then, numerous countries have jettisoned cash and pivoted towards digital payments as the conventional payment method. Technological advancements, data security enhancements, and consumer preference for convenience have all under- pinned the secular trend of cash displacement and adoption of digital payments. In re- cent years, we have seen rapid global adoption of a superior form of digital payments: contactless payments (also known as “contactless”, “tap to pay”, “NFC payments”). Cur- rently, consumers interact with contactless payments through two primary forms – con- tactless-enabled credit and debit cards, and mobile wallets (such as Apple Pay, Google Pay, and Samsung Pay). While contactless payments are already popular in a number of countries globally, wide- spread adoption in the U.S. has lagged due to an underdeveloped payments infrastruc- ture. In spite of this, U.S. adoption of contactless payments appears to have reached an inflection point over the past year as merchant acceptance has become more widespread and leading financial institutions have begun issuing contactless credit and debit cards. With the COVID-19 pandemic serving as a tailwind, we’ve seen an acceleration in the secular trends of e-commerce
    [Show full text]
  • Contactless Smart Card Schemes in the Asia Pacific Region
    Contactless Smart Card Schemes in the Asia Pacific Region © Asia Pacific Smart Card Association, 2002 The information in this document was accurate when published in August 2002. Asia Pacific Smart Card Association 12A Thomson Commercial Bldg 8 Thomson Road Hong Kong Phone : +852 25919481 Fax: +852 28349748 Email: [email protected] Contactless Smart Card Schemes in the Asia Pacific Region TABLE OF CONTENTS INTRODUCTION .......................................................................................................3 TAIPEI’S EASYCARD .................................................................................................6 SINGAPORE’S EZLINK ................................................................................................7 HONG KONG’S OCTOPUS ............................................................................................9 MALAYSIA’S TOUCH’N GO ........................................................................................ 11 KOREA’S METROPOLITAN AFC SCHEME FOR SEOUL ....................................................... 13 KOREA’s MYbi CARD................................................................................................ 15 CHINA’S SHENZHEN TONG CARD................................................................................ 20 CHINA’S SHANGHAI PUBLIC TRANSPORTATION CARD ..................................................... 21 JAPAN’S SUICA CARD.............................................................................................. 23 JAPAN’S EDY CARD................................................................................................
    [Show full text]
  • About NETS Click Benefits
    About NETS Click NETS Click is a new in-app payment mode. NETS Click allows consumers to securely add their NETS bank card and use it to conveniently pay for purchases with just one click. Benefits Hassle-free Now you can complete your online payments with a single click. No more having to fill in your card details or login to your bank accounts to complete online payments. Safe & Secured NETS Click protects your card through tokenization. This means merchants will never have access to your card details. Easy to Start Today You can easily add any of your existing NETS ATM or Debit Card from DBS and OCBC, or NETS ATM cards from UOB. FAQ Q1: Which card can I use for NETS Click? You can add any NETS-enabled cards from DBS, POSB, OCBC and UOB. This includes: • DBS, POSB & OCBC: ATM Cards, Debit Cards, and any Credit Cards that are linked to a current or savings account • UOB: ATM Cards For POSB cards, please select “DBS”. Q2: Are there any fees that I need to pay when using NETS Click? There is no additional fee when you use NETS Click. Q3: What identification documents do I need to register for NETS Click? You will be required to enter your identification ID during registration for the bank to verify your account. • For Singaporean - Singapore NRIC • For Malaysian - Malaysia IC • All other Nationality – Passport Number Q4: How safe is NETS Click? NETS Click uses tokenisation to protect and secure your card details from being exposed and misused by any unauthorised third parties.
    [Show full text]
  • Go Beyond Physical Cards DIGITAL
    Your foundation for a Go beyond physical cards DIGITAL Nets Digital Life Cycle Service (DLCM) Service enables you with one FIRST interface to create digital customer journeys for your full card portfolio card experience of physical and virtual cards. Both as mono- and multi-scheme issuer, you benefit greatly from the state-of-the-art scheme agnostic interface delivered via the DLCM API. One API Interface for three modular services enables you to provide a digital first user experience for your customers with minimal investments, while reducing operating expense. Customers can intuitively provision their cards to their preferred digital wallet and enable automatic updates of latest card credentials at the merchants, and securely and compliant be enabled to read all card credentials directly in the mobile bank app. End-to-End Digital: Solution provides full digitised card life-cycle management Low cost: Reduce investments and running costs for the foundation of your digitised card strategy Cost transparency: Complete cost transparency for the full lifetime of the service Simplicity: One offload of cards from CMS for access to the full stack of modular services Customer Satisfaction: Attract and retain customers with leading card payment experiences Grow Digital Turnover: Increase customer usage by securing top-of-wallet status Seamless UX: Easily integrates into an existing digital banking experience PCI Scope: Option to remove your PCI Scope Live today: In production with customers xPay Complementary services to DLCM API: MDE isa) S ( (V Ma TS st V er Instant Issuing e token se ca em rv rd h ic ) Sc e Instant enablement of card usage A Notifications c c o (Visa) Instant notifications to the u DLCM s n e customer for card usage events.
    [Show full text]
  • Electronic Toll Payment System Using RFID Smart Card Bachelorof Technology
    Electronic Toll Payment System Using RFID Smart Card By Mohd Irfan Bin Badrul Hisham Dissertation Submitted in Partial Fulfillment of The Requirement for the Bachelorof Technology (Hons) (Business Information System) JULY 2009 Universiti Teknologi PETRONAS Bandar Seri Iskandar 31750 Tronoh Perak Darul Ridzuan CERTIFICATION OF APPROVAL Electronic Toll Payment System Using RFID Smart Card By Mohd Irfan Bin Badrul Hisham A project dissertation submitted to the Computer & Information Sciences Universiti Teknologi PETRONAS in partialfulfillment of the requirement for the BACHELOR OF TECHNOLOGY (Hons) (BUSINESS INFORMATION SYSTEM) Approved by, (Nazieeni Binti Haron @ Baharon) UNIVERSITI TEKNOLOGI PETRONAS TRONOH, PERAK July 2009 CERTIFICATION OF ORIGINALITY This is to certify that I am responsible for the work submitted in this project, that the original workis myownexcept as specified in the references andacknowledgements, and that the original work contained herein have not been undertaken or done by unspecified sources or persons MOHD IRFAN BIN BADRUL HISHAM ACKNOWLEDGEMENT Alhamdulillah. The author finally finished the report for final year project. Process to get the jobdone was tough and difficult, but at the same time it was also fun and interesting. Thus the author would like to take this opportunity here to give appreciations forthem for all the supports that have been given to the author. First of all, the authorwouldlike to conveygratitude and thankful to Allah S.W.Tfor the blessing and for his parent, Badrul Hisham bin Abdullah and Che Zainabi binti Mohamad andalso family members. Their non-stop support, encouragement and love arevery much treasure by the author. Theauthor alsowould liketo convey mostthankful to his supervisor, Mrs.
    [Show full text]