In the Merchant Agreement, and in the Terms & Conditions, the following definitions shall apply:
The “Three-Domain Secure” protocol developed by Visa International Inc. (Visa) branded as “Verified by Visa” and “MasterCard Secure Code” developed by MasterCard International Inc. (MasterCard), including successive versions thereof and any amendments thereto.
A financial institution that is authorized by a Scheme Owner to enable the use of a Payment Method by accepting Transactions from merchants on behalf of the Scheme Owners.
Use of a Payment Method via Sul Payments where Sul Payments acts as the Acquirer or Sul Payments contracts with the relevant third-party Acquirer on behalf of the Merchant to enable the use by Merchant of such Payment Method.
Sul Payments AG , a company registered with the Swiss Chamber of Commerce under number CHE-xxxxxxxxxxxxxxxxxxxxxxxxx
Application Programming Interface consisting of a direct secured internet connection between the Merchant’s site and the Adyen environment via which Payment Details are sent.
The process whereby an Account Holder (or Merchant on Account Holder’s behalf) requests permission for a Payment Method to be used for a purchase of Merchant’s Service or Product. “Authorized” shall have the corresponding meaning.
The bank account held by an Eligible Merchant with Sul Payments on which funds owed by Sul Payments to the Eligible Merchant (credit) or by the Eligible Merchant to Sul Payments (debit) are administered and on which Sul Payments will Settle the funds for Transactions validly processed for the Merchant.
A day other than a Saturday or Sunday on which banks are open for business in Switzerland.
The period in which an Authorized Transaction can be Captured. The Capture Period varies per Payment Method.
The confirmation by (or on behalf of) the Merchant to the Acquirer that a Transaction for which Merchant received an Authorization is to be executed and the Account of the Account Holder is to be charged for the Transaction. “Captured” shall have the corresponding meaning.
Any form of Credit Card or Debit Card, which may be used by a Cardholder to carry out a Transaction on a Cardholder’s account.
Visa, MasterCard, Discover or comparable bodies which provide Cards.
The 3- or 4-digit numeric code that is printed on a Card. This code is known as: for Visa: CVV2; for MasterCard: CVC2; for American Express and Discover: CID. Collectively referred to as CVM Code.
Any person who is issued a Card and possesses and uses a Card and, where required on the Card, whose signature appears on the Card as an authorized user.
A Transaction which is successfully charged back on request of the Account Holder or the Issuer pursuant to the relevant Scheme Rules resulting in a cancellation of a Transaction in respect of which a Merchant has been paid or was due to be paid. If a Chargeback occurs for a Transaction in respect of which Merchant already received Settlement of the related funds, this results in the unconditional obligation for the Merchant to immediately return the Settled funds to Sul Payments, to enable Sul Payments to return such funds to the Scheme Owner or Acquirer.
The fee charged by Sul Payments to the Merchant in respect of a Chargeback.
Any form of credit card, which permits or enables Transactions on a Cardholder’s account.
The person that is authorized to operate the Sul Payments account on behalf of the company registered.
The secured interface on Sul Payments website where Merchants can review and operate on their Transactions, profile and settings and find usage instructions, information regarding the Services and the Payment Methods.
Any form of debit card, which permits or enables Transactions on a Cardholder’s account.
The date on which the complete Merchant Product and/or Merchant Service is delivered to the Account Holder who paid for the corresponding Transaction.
A sum of money held by Sul Payments, withheld by Sul Payments from funds to be Settled to the Merchant and/or separately deposited with Sul Payments by the Merchant on Sul Payments ‘s request as security for Chargebacks, Fines and fees due to Sul Payments.
A Transaction by an Account Holder where said Account Holder is not physically present at the point of sale at the time of the Transaction, and the Payment Details are presented to the Merchant or Sul Payments by the Account Holder by means of secure Internet communications.
Any fine, uplifted service fee or other additional payment as imposed by the Scheme Owners and/or Acquirers to the Merchant and/or Sul Payments, as a result of situations such as, but not limited to, breach of Scheme Rules by the Merchant or caused by the Merchant, excessive fraud levels or excessive Chargeback levels.
The Payment Interface where an Account Holder is redirected from the Merchant shopping site to a payment site hosted by Sul Payments, on which the Payment Details are entered by the Account Holder.
The fee(s) set and charged by the Card Schemes (and in part passed on to the relevant Issuer) for processing and settlement of a Card Transaction. This fee shall include the assessment fees and any other scheme fees charged by the Card Scheme for the particular Transaction.
An institution that issues Payment Methods to the Account Holder and whose name appears on the Card or bank account statement as the Issuer or who enters into a contractual relationship with the Account Holder with respect to the Payment Method.
The company entering into a Merchant Agreement with Sul Payments and for which Sul Payments processes Transactions related to the Merchant Service and Merchant Products.
The agreement between Sul Payments and the Merchant for the provision of the Services to Merchant, including the Terms and Conditions and all Schedules and other documents appended thereto by reference.
A product/service which the Merchant is selling and for which Transactions are processed.
The fee that Adyen charges per Transaction for the use of the relevant Payment Method for that Transaction. This can be a percentage of the Transaction amount, or a fixed fee, or a combination of a percentage and a fixed fee. The Processing Fee is not part of the MSC.
The Currency in which the Transaction is originally offered to the Account Holder.
The Currency in which a Transaction is processed.
The information which makes up a Transaction message which needs to be submitted to the Payment Interface to enable the processing of the Transaction by Sul Payments and to perform fraud checks, including details regarding the Card, the Account Holder, relevant authentication details and the payment amount.
Electronic instruction sent by an Eligible Merchant (or by an authorized third party acting on behalf of Eligible Merchant) to Sul Payments via the Customer Area to transfer funds from the Bank Account to another bank account.
An electronic connection method provided by A Sul Payments to the Merchant for providing the Payment Details for individual Transactions allowing Sul Payments to provide its Services with respect thereto.
A method of enabling payments by Account Holders to merchants such as Cards, online and offline bank transfers and direct debits offered by the Scheme Owners.
The payment of amounts by Sul Payments to the Merchant, owed with respect to settlements received by Sul Payments from Acquirers or Scheme Owners for Transactions validly processed for the Merchant, minus the amounts for Refund and Chargebacks, Transaction Fees and the amounts needed to keep the Deposit on the then current Deposit Level. “Settle” and “Settled” shall have the corresponding meanings.
The payout frequency can be weekly, monthly or on demand, meaning merchant will receive payouts for sales made on the defined timeframe on a weekly basis ( every Monday of each month, or on a monthly basis on the 1st of each month) or on demand (when the merchant requests this in case merchant does not wish to receive them weekly or monthly. Should Monday or the 1st be bank holidays in Switzerland https://www.feiertagskalender.ch/index.php?geo=3055&jahr=2019&hl=en Sul Payments will release the payout on the next working day. There is also the possibility that for certain business models the payouts will only be issued based on the service date ( should the payment be made for goods or services to be rendered in the future) where Sul Payments will only release the payouts when the service date is reached on the next payout cycle.
The interface where a SaaS company can monitor and manage website(s) that are processing payments on the Sul Payments Platform.
The merchant(s) that is processing payments on the Sul Payments Platform using Sul Payments Interface which is connected to the Company.
The merchant(s) that processes payments on the Sul Payments platform directly contracted with Sul Payments.
The security standards for transmitting, processing or storing card data / payment details, known under the name PCI DSS, as required to be observed under the Scheme Rules of the Card Schemes.(www.pcisecuritystandards.org)
Transaction submitted for processing by a Cardholder via a POS Terminal where the Cardholder is physically present at the location of the POS Terminal
Device designed to submit POS Transactions to Sul Payments by reading the relevant data on the Card, registering the approval of the Cardholder for the Transaction, encrypting the Payment Details and sending them via the public internet to Sul Payments for processing.
The fee that Sul Payments charges for each Transaction submitted for processing to the Payment Interface, regardless of the Transaction amount and the type of Payment Method used.
A (partial) reversal of a particular Transaction, whereby the funds are reimbursed to the Account Holder on the initiative or request of the Merchant.
A request from Scheme Owner or Acquirer received by Sul Payments for more information about a Transaction, made available by Sul Payments to the Merchant in electronic form.
The party offering and/or regulating the relevant Payment Method.
The collective set of bylaws, rules, regulations, operating regulations, procedures and/or waivers issued by the Scheme Owners as may be amended or supplemented over time and with which Merchant must comply when using the relevant Payment Method. As a service Sul Payments endeavors to make up to date versions available of the Scheme Rules applicable to the Merchant via the Customer Area, but only the then current applicable Scheme Rules as issued by the relevant Scheme Owner and/or the relevant Acquirer are binding on Merchant.
The collective set of payment processing, KYC, payment routing, fraud control, reconciliation, reporting, Settlement and/or other services as provided by Sul Payments to the Merchant to enable the Merchant to use Payment Methods to process Transactions, as well as providing a Bank Account to Eligible Merchants and any other services offered by Sul Payments to a Merchant under the Merchant Agreement.
The collective set of programs and data developed and/or operated by Sul Payments as needed to provide the Service to its merchants, including the Payment Interface.
The current version of these terms and conditions of Sul Payments.
An Authorization request of an Account Holder for a payment from the Account Holder to the Merchant submitted by Merchant to Sul Payments.
The sum of Merchant Service Charge (MSC) and Processing Fee.
The total amount of Authorized, Captured and/or Settled Transactions for the Merchant on any point in time, for which the Merchant Products and/or Merchant Services have not been delivered to the relevant Account Holders at that time and/or for which the return rights or order cancellation rights of the Account Holder under the terms and conditions of the Merchant and/or applicable law have not yet lapsed.
From 09:00 CET to 18:00 CET on Business Days in Switzerland, or such other hours as may be published by Sul Payments on the Sul Payments Site.