Tokenization Credentials on File Cardholder Agreement

1. This Agreement establishes the terms of payment credential tokenization and transaction processing between the Cardholder (wholesale account owner/agent for which the card is being used) and MarketTime (Payment Service Provider), located at 2050 N Stemmons Fwy, Ste 139, Dallas, TX 75207. By clicking to accept, the Cardholder provides explicit consent to the following terms and conditions.
2. The Cardholder authorizes the Merchant (any legal entity/business who has contractually agreed to accept payment card transactions through Payment Service Provider) and its Payment Service Provider to securely tokenize and store specific payment credentials, specifically the Cardholder name, card number, and card expiration date. This process involves converting these sensitive payment card details into a unique, encrypted digital token. This tokenized representation will replace the original payment account details, enabling the Merchant to initiate and process two types of transactions: Cardholder-Initiated Credentials on File (COF) Transactions, where the Cardholder directly initiates the transaction, and Merchant-Initiated COF Transactions, where the Merchant generates transactions using the stored token with the Cardholder's prior authorization.
3. Disclosure to the Cardholder:
   3.1 The tokenized credentials will be exclusively utilized for processing transactions related to the production, distribution, and fulfillment of products, including shipment of goods to retailers for placed orders from sales agencies or the retailer themselves.
   3.2 This may include both Cardholder-Initiated COF Transactions that the Cardholder directly approves at the time of the transaction, and Merchant-Initiated COF Transactions that occur at predetermined intervals or as part of ongoing service agreements.
   3.3 Event that will prompt the transaction: The transaction will be initiated when the Merchant receives an order for fulfillment from the Cardholder or sales agency.
   3.4 While the agent, agency, or sales representative operates the software to capture the order and associated credit card details, they do not have the authority to authorize the use of the credit card. This authority is solely held by the Cardholder (the wholesale account owner or agent for whom the
   card is being used).
   3.5 The agent, agency, or sales representative operating the software to capture the order is not responsible for any issues that may arise from the tokenization process or transaction processing.
4. Transaction confirmations will include essential details such as the tokenized identifier, transaction amount, applicable surcharges, transaction currency, transaction date, authorization code, and merchant location. The original payment account details will not be stored or displayed at any point during these transactions.
5. The Merchant commits to providing advance notification of any agreement modifications. For Merchant-Initiated COF Transactions with fixed, regular intervals, the Cardholder will receive 7 business days' advance notice of changes. For unscheduled Merchant-Initiated COF Transactions or Cardholder-Initiated COF Transactions, notification will be provided 2 business days in advance. Correspondingly, the Cardholder agrees to inform the Merchant of any changes to their payment method at least 7 business days before the next scheduled transaction.
6. This Agreement becomes effective upon successful payment method verification and token generation. The agreement remains valid until terminated by either the Cardholder or the Merchant in accordance with the Merchant’s established cancellation policy.
7. Any refunds for transactions processed under this Agreement will be issued in accordance with the Merchant's established refund policy.
8. Throughout the agreement's duration, the Payment Service Provider guarantees that the tokenized credentials will be maintained using industry standard encryption and security protocols to protect the Cardholder's financial information.
9. By proceeding with the transaction, the Cardholder acknowledges full understanding and acceptance of these tokenization and transaction processing terms, including both Cardholder-Initiated and Merchant-Initiated COF Transaction provisions.
   

Last Edited: March 31, 2025