Member Bank Information: Commercial Bank of California, Irvine, California
Important Member Bank Responsibilities:
1. Member Bank is the only entity approved to extend acceptance of Card Brand products directly to a Merchant.
2. Member Bank must be the principal (signer) to this Merchant Agreement.
3. Member Bank is responsible for and must provide settlement funds to you.
4. Member Bank is responsible for all funds held in reserve that are derived from settlement.
5. Member Bank is responsible for educating you on pertinent Card Brand Rules with which you must comply; but this information may be provided to you by HadePay Systems or PayArc
Your Important Responsibilities:
1. Ensure compliance with cardholder data security and storage requirements.
2. Maintain fraud and chargebacks below Card Brand thresholds.
3. Review and understand the terms of this Merchant Agreement
4. Comply with applicable Card Brand Rules:
You may download Visa Regulations from Visa’s website at: http://corporate.visa.com/about-visa/our- business/operating-regulations.shtml
You may download MasterCard Regulations from MasterCard’s website at: http://www.mastercard.com/us/merchant/support/rules.html
5. Retain a signed copy of this disclosure page.
The responsibilities listed above do not supersede terms of the HadePay Systems and PayArc agreements and are provided to ensure you understand some important obligations of each party and that the Member Bank is the ultimate authority should you experience any problems.
By submmitting this document to SkySystemz, you agree to have this information shared with third party underwriters for the purpose of obtaining a merchant account. Before submission please ensure all fields are completed. No further documentation is needed upon initial account approval. However, to verify identity and the merchant business, other verificaton documents may be requested.
Merchant acknowledges that all of the information provided by merchant to PayArc and/or Bank in or in connection with this application is true, accurate and complete in all material respects. Merchants acknowledges that it has read this application, the Merchant Agreement found at https://www.payarc.com/agreements/PayArc-CBCal-Terms-and-Conditions.pdf, and each schedule and other document incorporated therein (collectively the merchant Agreement”), and understands that the same may be amended from time to time. Merchant is providing this information for the purpose of applying to have Bank and PayArc provide processing and settlement services to merchant, but merchant acknowledges that Bank and PayArc may accept or reject this application in their discretion, such approval or rejection to be communicated via email to merchant. Merchant agrees to be bound by the merchant Agreement if its application is approved. Merchant is not relying on any verbal representation in executing this application. This application may be executed by using an electronic or handwritten signature, which are of equal effect, whether on original or electronic copies. The merchant has caused this application to be executed by an authorized signer, effective the date signed by merchant (the “Effective Date”).
By sending this document to SkySystemz you agree to have this information shared only with our underwriters and partners for the purpose of obtaining a merchant account. You also certify that all questions herein were answered truthfully to the best of your knowledge.