Definitions

For the purposes of iQ Payments and the documents and links related or referring thereto, unless indicated otherwise or unless the context requires otherwise, the capitalized terms and expressions herein have the meaning given to them in the table below.

Acquiring Bank	A financial institution that is authorized by a Scheme Owner to enable the use of a Payment Method by accepting Transactions from Merchants, routing these to the Scheme Owners or Issuing Banks and collecting and settling the resulting funds to the Merchant.
AfP Terms and Conditions	The general terms and conditions for the Adyen Services to be accepted and agreed by the Merchants during the Merchant Onboarding Process, available at: https://www.adyen.com/legal/terms-and-conditions-adyen-for-platforms-2022
Adyen Services	The Adyen payment processing and acquiring platform made available to the Merchant via the iQmetrix Platform. More specifically: the processing and acquiring of Card Present and/or Card Not Present (CNP) Transactions generated via the iQmetrix Platform; and/or Point of Sale (POS) Transactions generated by the Merchant by means of Payment Terminals provided by iQmetrix to the Merchants via the iQmetrix Platform. Geographically the scope is limited to Merchants established in the United States.
Authorization	The process whereby the iQmetrix Platform, on behalf of Merchant, requests permission for a payment method to be used for a particular purchase. “Authorized” shall have the corresponding meaning.
Card	Credit, debit, prepaid, stored value, or similar account.
Cardholder	The individual who was issued a card, code, device, or other means allowing access to a Card.
Chargeback(s)	A Transaction which is successfully charged back on request of the Merchant Customer or the Issuing Bank pursuant to the relevant 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 iQmetrix, to enable the return of such funds to the Scheme Owner or Acquiring Bank.
iQmetrix Platform	iQmetrix’s POS and eCommerce Software as a Service (SaaS).
Feedback	Comments or ideas about the Service, including without limitation about how to improve the Service or our products.
Fees	Fees indicated on the Fee Disclosure Box, or as amended from time to time by iQmetrix.
Issuing Bank	A financial institution that makes Payment Method available to Merchant Customers to make Transactions with Merchant.
Location(s)	Each retail store location, owned by the Merchant, that will be receiving the Services from iQmetrix.
Marks	Scheme Owners logos and marks.
Merchant Account	The account of the Merchant within the iQmetrix Platform.
Merchant Customer	Any person who is authorized to use a Payment Method issued to them.
Merchant Onboarding Process	The onboarding process to be concluded with each Merchant to qualify for the use of the Services, which includes the submission of the registration details of the Merchant for KYC check and the acceptance by the Merchant of the AfP Terms and Conditions when registering for the Services with a Merchant Account as further detailed in Schedule A (Merchant Onboarding Process).
MSB	Money Services Business.
Payment Method	A method of enabling payments by Merchant Customers to merchants such as Cards, online and offline bank transfers and direct debits offered by the Scheme Owners.
Payment Terminal(s)	Device provided by iQmetrix that is designed to submit Point of Sale (POS) Transactions to Adyen by reading the relevant data on the card, registering the approval of the card holder for the transaction, encrypting the payment details and sending them via the public internet to Adyen for processing.
Payment Terminal Terms	The terms and conditions governing the purchase, rental, and use of the Payment Terminals are available at: https://www.iqmetrix.com/legal/payments/product_terms_of_service.
PSP	Means a Payment Service Provider.
Refund(s)	A (partial) reversal of a particular Transaction, whereby the funds are reimbursed to the Merchant Customer on the initiative or request of the Merchant.
Rules	The collective set of bylaws, rules, regulations, operating regulations, policies, instructions, procedures and/or waivers issued from time to time by the Scheme Owners as may be amended or supplemented over time and with which merchants and payment service providers must comply with when using the relevant payment method, and the Payment Card Industry Data Security Standards (“PCI DSS”) and the Payment Application Data Security Standard (“PA-DSS”).
Scheme Owners	Party who regulates and provides a specific payment method (e.g., Visa, MasterCard, American Express).
Services	Access to the iQmetrix Platform, and the Adyen Services for the Merchant’s use within the iQmetrix Platform, and the Support Services.
Support Services	The provision of support and ancillary services to the Merchant to support its use of the Services and the iQmetrix Platform as further described under Section 4.2.
Transaction(s)	An Authorization request of a Merchant Customer for a payment from the Merchant Customer to the Merchant or iQmetrix submitted by Merchant or iQmetrix to Adyen.