Payment Processor Agreement
/ˈpeɪmənt proʊˌsɛsər əˈgrimənt/
Definitions
- (n.) A contract between a merchant and a payment processor outlining terms for handling electronic payment transactions.
The merchant signed the payment processor agreement to enable credit card transactions on their website.
Forms
- payment processor agreement
- payment processor agreements
Related terms
See also
Commentary
Payment processor agreements typically specify fees, transaction processing rules, and liability allocation; drafters should ensure clarity on chargeback procedures and compliance obligations.
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.