Terms Used In Tennessee Code > Title 47 > Chapter 22 > Part 4 - Payment Services

• 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.
• Lease: means a transfer of the right to possession and use of a device for a term in return for consideration. See Tennessee Code 47-22-401
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105