How is Online Transactions defined in a legal contract?
- Online Transactions means posted retail transactions that are charged successfully to an account using a Card via the internet. They are processed as online transactions via duly sanctioned international networks and properly captured and posted on the said networks.
Seen in 4 SEC filings - Online Transactions means any card-transactions executed using electronic or mechanical devices, which immediately register changes to the balance of the Card account in the payment cards authorization system.
Seen in 4 SEC filings - Online Transactions means applying a payment or transfer to an account immediately once the transaction has been approved. For recurring or future-dated payments, they are applied on the effective ““send on”” date.
Seen in 3 SEC filings - Online Transactions means transactions completed using one of the Accepted payment services through various accepted platforms such as apps or other systems or via shopping pages of the Accepted payment services.
Seen in 2 SEC filings - Online Transactions means banking transactions initiated by the Customer from a business account via internet banking.
Seen in 2 SEC filings - Online Transactions means retail transactions made via the internet and processed as an online transaction type through approved international networks.
Seen in 2 SEC filings - Online Transactions means a transaction on an e-commerce platform, including those accessible by a desktop or mobile browsers, transactions using a specific Payment Platform, and transactions using other online means as the Parties may agree upon from time to time in writing.
Seen in 2 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Online Transactions means all successful financial actions executed via internet, processed as an online business, and registered immediately in the authorization system.
Relevant Contract Types
- Service Level Agreement
- Software as a Service Agreement
- E-commerce Agreement
- Payment Processing Agreement
Relevant Circumstances
- Implementing a new payment processing system
- Launching an e-commerce platform
- Establishing an online service that requires regular transactions
Relevant Sectors
Genie Definition 2
- Online Transactions means monetary exchanges initiated on an internet platform, including e-commerce websites, mobile applications, and accepted payment services.
Relevant Contract Types
Relevant Circumstances
- Developing a mobile application that processes transactions
- Initiating an online platform that involves monetary exchanges
- Setting up a payment gateway for e-commerce
Relevant Sectors
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Online Transactions means all successful financial actions executed via internet, processed as an online business, and registered immediately in the authorization system.
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