How is Payment Solution defined in a legal contract?
- Payment Solution means an online system managed by a licensee, used to facilitate transactions between businesses and consumers by using a specific solution and backend platform. Seen in 2 SEC filings
- Payment Solution means a system for processing payments made by customers through valid cards or other permitted modes of payment, using equipment provided by a specific provider, enabling the authentication of customers and authorization of payments. Seen in 1 SEC filing
- Payment Solution means the technical and physical resources provided by a platform to users for processing and authorizing their payment orders either through cards or other payment methods to account holders. Seen in 1 SEC filing
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of payment solution' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Payment Solution means an online system that facilitates and authorizes transactions between entities, through various permissible payment methods.
Relevant Contract Types
- Service Agreement
- License Agreement
- Software Development Agreement
- E-commerce Agreement
- Subscription Agreement
Relevant Circumstances
- When dealing with online transactions
- When facilitating B2B or B2C payments
- When setting up an online marketplace
Relevant Sectors
Genie Definition 2
Payment Solution means a technical system provided by a [platform], processing user's payment orders to [account holders].
Relevant Contract Types
Relevant Circumstances
- When integrating a payment system into a platform
- When establishing a new online payment service
Relevant Sectors
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Payment Solution means an online system that facilitates and authorizes transactions between entities, through various permissible payment methods
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