North Carolina General Statutes 14-113.15A. Criminal factoring of financial transaction card records
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Any person who, without the acquirer‘s express authorization, employs or solicits an authorized merchant, or any agent or employee of such merchant, to remit to an issuer or acquirer, for payment, a financial transaction card record of a sale, which sale was not made by such merchant, his agent or employee, is guilty of a felony punishable as provided in N.C. Gen. Stat. § 14-113.17(b). (1989, c. 161, s. 3.)
Terms Used In North Carolina General Statutes 14-113.15A
- Acquirer: means a business organization, financial institution, or an agent of a business organization or financial institution that authorizes a merchant to accept payment by financial transaction card for money, goods, services or anything else of value. See North Carolina General Statutes 14-113.8
- Financial Transaction Card: "Financial transaction card" or "FTC" means any instrument or device whether known as a credit card, credit plate, bank services card, banking card, check guarantee card, debit card, or by any other name, issued with or without fee by an issuer for the use of the cardholder:
- Issuer: means the business organization or financial institution or its duly authorized agent which issues a financial transaction card. See North Carolina General Statutes 14-113.8