Transaction Processing Agreement
/ˈtrænzækʃən ˈproʊsɛsɪŋ əˈɡriːmənt/
Definitions
- (n.) A contract outlining the terms and conditions under which one party processes transactions on behalf of another.
The company signed a transaction processing agreement with the payment processor to handle customer payments securely.
Forms
- transaction processing agreement
- transaction processing agreements
Related terms
See also
Commentary
Typically negotiated to specify responsibilities, liability, data security, and compliance, this agreement is crucial in contexts involving financial or data transactions between businesses.
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.