These Terms and Conditions apply to your card processing agreement. For simplicity, we (i.e., Tangram, LLC) refer to ourselves as “we,” “our,” “Processor” or “us” in this document. We refer to you (i.e., the legal entity or sole proprietorship on the Application) as “you” or “your” or “Merchant.” Other parties may also be parties to this Agreement (e.g., Member Bank, Guarantor, etc.). Terms that are capitalized, but not defined, are defined in Section 18 or in the Application.
Wireless Operator: You hereby authorize your wireless operator (AT&T, Sprint, T-Mobile, US Cellular, Verizon or any other branded wireless operator) to use your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if available, to allow verification of your identity and to compare information you have provided to us with your wireless operator account profile information for the duration of the business relationship.
“ACH” means an electronic funds transfer processed through one of the automated clearing house systems and subject to the Nacha Network Rules.
“Agreement” means the Merchant Processing Agreement (including Terms and Conditions), Merchant Application, Rules Summary, Operating Regulations, and any attached addenda, exhibits, schedules, or other documents.
“Application” and “Merchant Application” mean either the physical/virtual form or the act of making application by providing information via a web page user interface to obtain Service from us.
“Associations” means, collectively, Mastercard, Inc. (“Mastercard”), Visa, Inc. (“Visa”), Discover Financial Services (“Discover”), and American Express Company (“American Express”), each including its applicable affiliates and payment networks, and certain similar entities.
“Card(s)” means Association or Other Network branded cards that enable consumers to purchase goods and services from Merchants.
“Change in Control” means the consummation by Merchant of a transaction or series of transactions in which any one or more of the following occurs: (7) any person becomes the beneficial owner, directly or indirectly, of 25% or more of Merchant’s business; (2) the sale, lease, exchange, or other disposition of 25% or more of all of Merchant’s consolidated assets; or (3) a complete liquidation or dissolution or a plan of complete liquidation or dissolution of Merchant.
“Chargeback” means a Transaction for which payment has been refused or reversed in accordance with the Operating Regulations. The term also means, where appropriate, a Card reject or any other credit or return initiated by a Merchant’s customer or Card issuing bank.
“Discount Rate” means a percentage of the total transactions submitted to Member Bank for processing.
“Effective Date” means the later of (i) the date you signed the Application; or (ii) the date we approved the Application.
“ISO/MSP” means an independent sales organization/member service provider operating under the Operating Regulations.
“Laws” means all applicable state, federal, and local laws, rules, and regulations.
“Member Bank” means a member of Visa, Mastercard and/or Other Networks, as applicable, that provides sponsorship services in connection with this Agreement.
“Operating Regulations” means the Association and Network bylaws, operating regulations, rules, policies and procedures. The Operating Regulations may be changed or updated from time to time without notice.
“Other Networks” or “Networks” means, collectively, all our supported payments networks not defined above as Associations.
“Rules Summary” means the document containing a summary of key Operating Regulations governing this Agreement as amended from time to time. In case of a conflict between the Rules Summary and the Operating Regulations, the Operating Regulations control.
“Service” means any services described in this Agreement and/or provided by us.