"Alternative Payment Method" or "APM" means a payment method (other than Card) which We are able and have agreed to process (as notified by us to you from time to time);
"Alternative Payment Method Payment" means a payment or other transaction (such as refunds or reversals) using an APM, regardless of whether such APM is prefunded or instantly funded using another payment instrument linked to the APM.
"Alternative Payment Method Provider" means a third party which regulates or is responsible for processing any APMs and which is in any arrangement with us in connection with which it enables us and you to (a) accept payment by End Users using APMs; and (b) receive value in respect of such payments. Acquirer may also act as APM Providers.
"Alternative Payment Method Rules" means the rules and procedures governing the making and accepting of APM Payments as stipulated by the relevant APM Provider, including but not limited to payment agreements between an APM Provider and intermediary payment service providers and/or us.
"Alternative Payment Method User" is the person or entity holding and authorised to use an APM and/or APM account; in the context of the purchase of goods or services, the term APM User shall be deemed to include a reference to the customer purchasing the goods or services, if different from the APM User.
"Application" means a written or electronic application by you to us including a statement of your financial condition, a description of the characteristics of your business or organisation, and related information you have previously or concurrently submitted to us, including credit and financial information, to induce us to enter into this Agreement with you and that has induced us to process your Transactions under this Agreement.
"Card" means any payment card or virtual payment card issued to a Cardholder by or on behalf of a member of a Card Scheme.
"Cardholder" is the person or entity to whom a Card is issued or who is otherwise authorised to use a Card; in the context of the purchase of goods or services, the term Cardholder shall be deemed to include a reference to the customer purchasing the goods or services, if different from the Cardholder.
"Card Issuer" is the person or entity issuing a Card to a Cardholder under the relevant Card Scheme Rules and as a member of the relevant Card Scheme.
"Card Scheme" means any payment card scheme, including but not limited to VISA, MasterCard®, Discover and American Express®.
"Card Scheme Rules" means any set of bylaws, rules, regulations and policies set by any Card Scheme from time to time.
"Card Transaction" is a payment transaction between you and a Cardholder using a Card for the purchase of goods or services or the return or refund of such purchase.
"Chargeback" is a reversal of a Transaction or APM Payment you previously presented to us pursuant to this Agreement and the relevant Card Scheme Rules or APM Provider Rules.
"Confidential Information" means any information which is marked as "confidential" or "proprietary" or should reasonably be expected to be confidential or proprietary having regard to the context of disclosure or the nature of the information; without prejudice to the generality of the foregoing, the terms of this Agreement as well as business plans, data, strategies, methods, customer and client lists, technical specifications, transaction data and Cardholder data shall be deemed confidential.
"LIBOR" is the London Interbank Offered Rate interest rate set by the British Bankers' Association.
"Merchant", "you" or "your" means the individual or entity entering into this Agreement with us.
"Merchant Payment Account" means the payment account held by you with us.
"Merchant Payment Account Balance", "Balance" is the balance held in your Merchant Payment Account at any given time.
"Merchant Portal" means the website interface providing the Merchant with Transaction Data;
"Payment Gateway Interface" means the IT technology provided to you by us in order to accept and process payments;
"Payment Marks" means any trademark, brand, emblem, design, display or logo (whether registered or not) owned by or licensed to a Card Scheme or APM Provider.
"SYSTEM", "we", "our", or "us" means Platio, with registered office at 408 Hamilton House, 1 Temple Avenue, London, England, EC4Y 0HA.
"Recurring Transactions" are repeated transactions in the system, which are on the basis of a contract between the Payer and the Merchant, with a predetermined interval of time.
"Reporting period" means a period of 30 (thirty) calendar days starting at 00:00 of the first day of the calendar month and ending at 23:59 of the last day of the calendar month. The initial Reporting Period commences on the Commencement Date.
"Retrieval Request" is a request for information by a Cardholder, Card Scheme or member of a Card Scheme, or by an APM User or APM Provider, relating to a claim or complaint concerning a Transaction.
"Services" has a meaning ascribed to it in clause 3.
"Settled Transaction" is a Transaction the value of which has been settled by us to you.
"Submitted Transaction" is a Transaction submitted by us to a Card Scheme for settlement.
"Transaction" means a Card Transaction or APM Payment, as the case may be.
"Transaction Data" is the written or electronic record of a Transaction, including but not limited to an authorisation code or settlement record.
"Reserve amount"- monetary funds secured in favour of the Platio in accordance with this Agreement to guarantee the fulfilment of the Merchant's obligation to the Platio under the Agreement hereof.