Definitions. For the purposes of these Terms the following capitalized terms have the following meanings. Capitalized terms that are used in this Agreement but are not defined in this Agreement shall have the meanings assigned to them in the Merchant Agreement.
"ACH" means the Automated Clearing House.
"ACH Network" means the funds transfer system, governed by the NACHA operating rules, that provides for the clearing of electronic entries for participating financial institutions.
"Card" means a valid credit, debit or prepaid card in the form issued under license from MasterCard, Visa, Visa International, Inc., or other payment network processed by IPS.
"Customer" is a person (natural or legal) that desires to make a payment to a Merchant using the Service.
"Merchant" is a business entity which either: (a) is a party to a Merchant Agreement with IPS with an account in good standing; or (b) in connection with acceptance of these Terms, has submitted an application to receive payments under the Service.
"Merchant Account" is the commercial demand deposit checking account designated by Merchant for use in conjunction with Merchant Services. For Intuit Payment Network, Intuit would also be a merchant into which Consumer funds will be credited before crediting them to the 'Merchant'
“Merchant Agreement” means the Intuit Payment Services Merchant Agreement located at http://payments.intuit.com/terms/terms.jsp#MerchantAgreement, as that document is amended from time to time in accordance with its terms
"Return" is an ACH transaction that, subsequent to submission to Settlement, was returned unpaid by either the Customer’s bank, or the ACH Network.
"Request Payment" means your ability to request money through the Service.
"Send Payment" means your ability to send money through the Service.
"Service" means the Intuit PaymentNetwork.