Application Bank Card Credit Na Online Information
Q: I recieved the following email: This is a reminder to complete PayPal's "Credit Card Processing Services Agreement" process. As we informed you in a prior email, this agreement is for PayPal members who receive a large volume of credit card payments and was introduced in order to comply with MasterCard?(R) requirements. This supplementary agreement does not replace PayPal's existing User Agreement and will NOT change the way your PayPal account works. The Credit Card Processing agreement simply clarifies many existing policies that an online seller needs to comply with to receive credit card payments through PayPal and Wells FargoT (PayPal's merchant bank). Next Steps To complete this process, please log in to your account at https://www.paypal.com. Then click on the link in the "Activate Account" box on your Overview page for further details. We encourage you to complete this process as soon as possible. You will need to fulfill these requirements by January 17, 2003, in order to continue accepting MasterCard-funded payments.
A: I found it, here is what it says (Very long): COMMERCIAL ENTITY USER AGREEMENT FOR CREDIT CARD PROCESSING SERVICES This Commercial Entity User Agreement for Credit Card Processing Services ("Card Processing Agreement") is provided to all PayPal Users that meet the definition of "Commercial Entities" as set forth in Article VIII of the PayPal User Agreement and that open and use a Premier or Business Account (such use of such accounts collectively termed the "Premier/Business Service"). (Each such entity or person receiving this document is hereby referred to as "you" or "your.") This Card Processing Agreement constitutes your separate legally binding contract for credit card processing with each of Wells Fargo Bank, N.A. and Wells Fargo Merchant Services, LLC. Wells Fargo may additionally terminate its provision of credit card processing services and enforce any of the provisions of your PayPal User Agreement setting forth requirements regarding credit card payments, all of which are incorporated in this Card Processing Agreement by reference. In this Card Processing Agreement "Wells Fargo", "we", "us" and "our" refer to each of Wells Fargo Bank, N.A. and Wells Fargo Merchant Services, LLC. By clicking the "I Accept" button below, you agree to the terms and conditions of this Agreement and any documents incorporated by reference. You further agree that this Card Processing Agreement forms a legally binding contract between you and Wells Fargo, and that this Agreement constitutes "a writing signed by You" under any applicable law or regulation. Any rights not expressly granted herein are reserved by Wells Fargo. This Agreement is subject to change by Wells Fargo without prior notice (unless prior notice is required by law), by posting of the revised agreement on the PayPal website. Descriptions of material amendments to this Card processing Agreement will be posted on the PayPal website. You may review the current Card Processing Agreement prior to initiating a transaction at any time by viewing PayPal's User Agreement. Any capitalized terms used in this Card Processing Agreement and not otherwise defined shall have the meanings set forth in the PayPal User Agreement. .
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