Last Updated: April 08, 2022
Acquirer Sponsored Merchant Agreement
This Acquirer Sponsored Merchant Agreement (the “Agreement”) is entered into between Elavon (as defined below), the Member (as defined below), you (“Sponsored Merchant”) and Alacriti Payments LLC (“Payment Facilitator”) as of the effective on the date these terms are accepted by you (the “Effective Date”). This Agreement is entered into pursuant to the Payment Network Regulations (defined below) to enable Sponsored Merchant to use certain processing services provided through the agreement between Sponsored Merchant and Payment Facilitator (the “Payment Facilitator Agreement”) that are ultimately provided by Elavon as merchant acquirer (the “Services”).
Definitions. Capitalized terms used but not otherwise defined in the Agreement will have the following meanings:
“Cardholder” means the individual in whose name a Payment Device has been issued and any authorized user of such Payment Device.
“Cardholder Data” has the meaning stated in the Payment Card Industry (PCI) Data Security Standard (DSS) and Payment Application Data Security Standard (PA-DSS) Glossary of Terms, Abbreviations, and Acronyms.
“Credit Card” means a card or device bearing the symbol of any Credit Card Association and associated with a revolving line of credit that can be used to purchase goods and services from Sponsored Merchant or to pay an amount due to Sponsored Merchant or to obtain cash advances.
“Credit Card Associations” means (i) Visa; (ii) MasterCard; (iii) American Express; (iv) Discover; (v) Diners Club International Ltd.; (vi) JCB International Co., Ltd.; (vii) China UnionPay Co., Ltd; and (viii) any other organization or association that hereafter contracts with Elavon to authorize, capture, and settle Transactions effected with Credit Cards issued or sponsored by such organization or association, and any successor organization or association to any of the foregoing.
“Debit Card” means a card or device bearing the symbol(s) of one or more electronic funds transfer networks or Credit Card Associations, which may be used to purchase goods and services from Sponsored Merchant or to pay an amount due to Sponsored Merchant by an electronic debit to the Cardholder’s designated deposit account. A “Debit Card” includes (i) a card or device that bears the symbol of a Credit Card Association and may be used to conduct signature-based, offline debit Transactions; and (ii) a card or device that bears the symbol of an electronic funds transfer network and can be used to conduct PIN-based, online debit Transactions.
“Elavon” means, as applicable, Elavon, Inc., a Georgia corporation, or Elavon Canada Company, a company validly existing and organized in Nova Scotia. Elavon is a registered member service provider of each Member.
“Member” means a financial institution designated by Elavon that is a principal, sponsoring affiliate or other member of Visa, MasterCard or other member of the applicable Payment Network. Elavon may change the Member at any time and will provide notice to Sponsored Merchant of such change.
“Payment Device” means any device or method used for the purpose of obtaining credit or debiting a designated account, including a Credit Card, Debit Card, and any other financial transaction device or method, including an electronic gift card, check (whether converted into electronic form or used as a source document for an electronic fund transfer), electronic balance transfer card, stored value card, “smart” card, or other device created to be used for the purpose of obtaining credit or debiting a designated account.
“Payment Network” means any Credit Card Association, electronic funds transfer network, electronic check services association or automated clearing house association, governmental agency or authority, and any other entity or association that issues or sponsors a Payment Device or operates a network on which a Payment Device is processed.
“Service Provider” means any entity that stores, processes, transmits or accesses Cardholder Data or Transaction Information on behalf of Sponsored Merchant or that provides software to Sponsored Merchant for transaction processing, storage, or transmission, except to the extent such services are performed by the entity in its capacity as a third-party contractor of Elavon performing Elavon’s obligations under the Agreement.
“Transaction” means any action between Sponsored Merchant and a Cardholder or Payment Network that results in transmission of Cardholder Data or Transaction Information (e.g. payment, purchase, refund, return, chargeback, authorization request, settlement submission, transaction inquiry, decryption, conversion to/from tokens).
“Transaction Information” means any data or information resulting from a Transaction. Transaction Information includes payment processing-related transactional information that may be collected or stored by Elavon, including the price paid for products or services, date, time, approval, unique transaction number, store identifier, and customer bank information relating to a Transaction.
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