Payment Processing Agreement
/ˈpeɪmənt ˈproʊsɛsɪŋ əˈɡriːmənt/
Definitions
- (n.) A contract between a merchant and a payment processor outlining terms for handling electronic payment transactions.
The company signed a payment processing agreement to enable credit card transactions on its website.
Forms
- payment processing agreement
- payment processing agreements
Related terms
See also
Commentary
Typically emphasizes liability, fees, data security, and transaction procedures; clarity in these areas reduces disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.