Legislation
SECTION 529
Definitions
General Business (GBS) CHAPTER 20, ARTICLE 29-BBB
§ 529. Definitions. For the purposes of this article, the following
terms shall have the following meanings:
1. "Merchant acquirer" means an entity that establishes a relationship
with a merchant for the purposes of processing credit, debit, or prepaid
transactions.
2. "Payment card network" means an entity that provides services that
route transactions between participants on the network to conduct debit,
credit, or prepaid transactions for the purpose of authorization,
clearance, or settlement.
3. "Person" includes an individual, corporation, partnership or
association, two or more persons having a joint or common interest or
any other legal or commercial entity.
4. "Issuer" means a person who issues a credit card or a debit card.
terms shall have the following meanings:
1. "Merchant acquirer" means an entity that establishes a relationship
with a merchant for the purposes of processing credit, debit, or prepaid
transactions.
2. "Payment card network" means an entity that provides services that
route transactions between participants on the network to conduct debit,
credit, or prepaid transactions for the purpose of authorization,
clearance, or settlement.
3. "Person" includes an individual, corporation, partnership or
association, two or more persons having a joint or common interest or
any other legal or commercial entity.
4. "Issuer" means a person who issues a credit card or a debit card.