Unless the distributors and suppliers agree otherwise, funds received by the supplier for payments made by cardholders to sub-dealers processed through the service (“user payments”) are transferred to the subcontractor no later than thirty (30) days after the end of the calendar month in which these user payments are received by the supplier (net of amounts that the supplier can deduct or withhold in accordance with the paragraph below). , or in accordance with the payment schedule within the administrative control of subcontractors (if any). However, the supplier may, at the sole discretion of the supplier, withhold the transfer of payments from users to subcontractors if the total user payments received by the supplier in the previous calendar month is less than $25. In this case, user payments are accumulated and transferred to the negotiator no later than thirty (30) days after the end of the following calendar month, during which user payments received by the supplier and not yet paid to the subcontractor are at least $25. Funds are transferred or updated later in the form that subcontractors select when subcontractors register for payment processing services, as permitted by the service. Merchant contracts highlight extensive rules, including the following requirements: (i) subcontractors cannot require a cardholder to fill out a postcard or similar device containing the cardholder`s account number, card expiry date, signature or other account data displayed in plain sight during shipping; (ii) Add a transaction tax, unless the applicable law is expressly required that a negotiator collects a tax (each amount of tax). (iii) request or use an account number for purposes other than the payment of goods or services, (iv) money in the form of traveller`s cheques, if the sole purpose is to allow the cardholder to purchase goods or services in cash. , (v) forking out money in the form of cash, unless the subcontractors spend money in the form of traveller`s cheques, TravelMoney cards or foreign currency (in this case, the amount of the transaction is limited to the value of traveller`s cheques, travelMoney or foreign currency, plus commissions or fees charged by the subcontractor), or if the subcontractor participates in a cash back-back service. , vi) any proof of transaction for a transaction; which was previously returned to the purchasers and then returned to the sub-trader, regardless of the cardholder`s authorization, (vii) accept a consumer credit visa card or commercial visa product issued by a U.S.
issuer to recover or refinance an existing debt, (viii) accept a card to collect or refinance an existing debit model classified as non-inins by subcontractors. , or (ix) submit a transaction representing the collection of a dishonored cheque. Sub-dealers also agree that under no circumstances do subcontractors retain data on cardholders in violation of the law or operating regulations, including, but not only, the storage of Track 2 data. Neither the negotiator nor his agent can retain or store magnetic tape data after authorization of a sale transaction. The fees paid by merchants for electronic payment services vary according to online transactions and fixed transactions. Merchants are generally required to pay the purchaser, for each electronic transaction, a high fee covering both the purchaser`s costs and the processor`s costs. As a general rule, purchasers also charge a monthly fee for billing and bank account services they provide to merchants.