What Is Payment Gateway Agreement

Dodano: 21:44, 15.04.2021

2.1.5 Unless exceptions, restrictions, exceptions and/or exclusions applicable in the CCAC or existing data protection legislation are not provided for by law or do not authorize applicable exemptions, restrictions and/or exclusions, PayPal are prohibited from collecting, retaining, using, selling or disclosing personal data, unless it is necessary to carry out the payment processing services mentioned in the agreement between the parties. Merchants can access payment systems through the acquisition of banking partnerships or choose their own payment gateway system. Major banks such as Bank of America (BAC) and JPMorgan Chase (JPM) have sophisticated payment gateway systems that they offer to their customers with their own merchants who buy banking services. Ultimately, merchants can choose a variety of payment gateway technologies as long as they are compatible with the reseller acquisition bank, which is used for payment processing. If PayPal is aware of a security incident related to the processing of the customer`s data and there is a reasonable likelihood of having a significant impact on a substantial portion of the PayPal systems related to payment processing services available to you, PayPal, in accordance with data protection legislation: a) inform you immediately and immediately of the security incident; and (b) take immediate and appropriate steps to minimize damage and ensure the security of customer data. The trader has the power and authority to execute, execute and execute the agreement. This agreement is binding and enforceable against Merchant, and no provision requiring the distributor`s service is in contradiction with its obligations under an agreement to which the distributors are a part. In the event that we do not receive satisfactory information to verify your identity or determine that you are solvent, PayPal reserves the right to terminate this contract with immediate notification, suspend access to Braintree payment services and refuse or withdraw payments from your customers. PayPal implement and maintain at least appropriate technical and organizational measures, as described in Appendix 1 of this addendum, to preserve the security of the customer`s data and protect it from unauthorized or illicit processing and accidental loss, destruction or damage related to the provision of payment settlement services.