As part of the bank’s working of banking operations, it deals with the business of the processing payments for establishing, in respect of payments sought to be made by way of debit / credit cards (as hereinafter provided).
The Merchant undertakes the business stated in Item no. 4 of the schedule hereunder written, at the premises situated at the address (es) specified in Item no. 3 of the Schedule hereunder written.
As specified in the Schedule Hereto, the merchant wishes to conduct buying and selling activities from its web site and receive credit/debit card payments for the same over the Internet.
The Bank enables payment through the use of credit/debit cards on the Internet. The Merchant wants to receive payment through credit/debit cards on the Internet.
Use of the payment gateway facilities is required for enabling receipt of payment through a credit/debit card on the Internet. Such payment gateway facilities would enable secure transmission of transaction messages over the Internet. The merchant also wants to utilize the payment gateway facilities of the Bank.
The Merchant also wants of being approved as an establishment so that he can do payment processing of transactions made by credit/ debit cards (as hereinafter provided) from the website specified in Item No. 4 of the schedule hereunder written, on the terms and conditions hereinafter mentioned.
According to the consideration of the Bank, agreeing to pay to the merchant, the amount of all sales slips (hereinafter collectively referred to as sales slips) issued by the merchant in accordance with the following terms and conditions;
The discount mentioned in Item no.6 of the schedule hereunder written hereby agrees with the bank. |