As used in this part:

(1) “Agreement” means a contract to provide payment services;
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Terms Used In Tennessee Code 47-22-401

  • Agreement: means a contract to provide payment services. See Tennessee Code 47-22-401
  • Card issuer: means any person who issues a credit card, debit card, or other payment card, or the agent of the person with respect to the card. See Tennessee Code 47-22-401
  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Contract: A legal written agreement that becomes binding when signed.
  • Credit card: means any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. See Tennessee Code 47-22-401
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Merchant: means a person, located in this state, that is in the business of selling property or services and that accepts credit cards, debit cards, or other payment cards as payment for property or services sold. See Tennessee Code 47-22-401
  • Payment acquirer: means a person that contracts directly with a merchant to provide payment services. See Tennessee Code 47-22-401
  • Payment card network: means an entity:
    (A) That directly, or through licensed members, processors, or agents, provides the proprietary services, infrastructure, and software that route information and data to conduct credit card, debit card, or other payment card transaction authorization, clearance, and settlement. See Tennessee Code 47-22-401
  • Payment services: means the acceptance, transmission, collection, or settlement of the merchant's sales receipts for the merchant's credit card, debit card, or other payment card transactions. See Tennessee Code 47-22-401
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Bank holding company”:

(A) Has the same meaning as defined in 12 U.S.C. § 1841;
(B) Includes any subsidiaries or affiliates, as defined in 12 U.S.C. § 1841, of a bank holding company; and
(C) Includes any federal credit union or state credit union, as those terms are defined in 12 U.S.C. § 1752;
(3) “Card issuer” means any person who issues a credit card, debit card, or other payment card, or the agent of the person with respect to the card;
(4) “Credit card” means any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit;
(5) “Debit card”:

(A) Means any card, or other payment code or device, issued or approved for use through a payment card network to debit an asset account, regardless of the purpose for which the account is established, whether authorization is based on signature, PIN, or other means;
(B) Includes a general-use prepaid card, as defined in 15 U.S.C. § 1693l-1(a)(2)(A); and
(C) Does not include paper checks;
(6) “Lease” means a transfer of the right to possession and use of a device for a term in return for consideration;
(7) “Merchant” means a person, located in this state, that is in the business of selling property or services and that accepts credit cards, debit cards, or other payment cards as payment for property or services sold;
(8) “Other payment card”:

(A) Means any stored-value card, smart card, gift card, or other similar device that enables a person to obtain property or services in a transaction with a merchant, the payment for which is initiated through a payment card network; and
(B) Does not include credit cards or debit cards;
(9) “Payment acquirer” means a person that contracts directly with a merchant to provide payment services;
(10) “Payment card network” means an entity:

(A) That directly, or through licensed members, processors, or agents, provides the proprietary services, infrastructure, and software that route information and data to conduct credit card, debit card, or other payment card transaction authorization, clearance, and settlement; and
(B) That a person uses in order to accept as a form of payment a brand of credit card, debit card, or other payment card;
(11) “Payment services” means the acceptance, transmission, collection, or settlement of the merchant’s sales receipts for the merchant’s credit card, debit card, or other payment card transactions; and
(12) “Payment services fee”:

(A) Means any amount:

(i) Charged, established, or received by a payment acquirer, payment card network, or card issuer; and
(ii) Paid by a merchant in relation to a credit card, debit card, or other payment card transaction;
(B) Includes any amount related to the purchase or lease of equipment as part of an agreement to provide payment services used in relationship to credit card, debit card, or other payment card transactions if the amount is charged, established, or received by a payment acquirer, payment card network, or card issuer; and
(C) Does not include any fees for providing deposit account, loan, or other services by a bank holding company.
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