Document ID: chunk:federal_register_of_legislation:F2022C00002:body:0:p4
Version: federal_register_of_legislation:F2022C00002
Segment Type: other
Provision Reference: 
Character Range: 7637–10442

(iv) clearing and settlement (including clearing and settlement of charge-back transactions);

           (v) authentication;

           (vi) authorisation;

           (vii) stand-in processing, clearing and settlement;

           (viii) fraud prevention; and

           (ix) handling, investigating and settling disputes, and requests or claims for chargebacks, raised by holders of Devices.

       A service will relate only to one or more Core Functions for the purpose of this paragraph (c) even if it involves or includes incidental services necessary to support one or more Core Functions;

    Credit Card Scheme means each payment system referred to as a 'Scheme' under Standard No. 1 of 2016 The Setting of Interchange Fees in the Designated Credit Card Schemes and Net Payments to Issuers;

    Debit Card of a Scheme or Debit Card of that Scheme means, in relation to a Scheme, a Device issued by a participant in the Scheme in Australia under the Rules of the Scheme that can be used to make payments for goods or services by accessing a deposit account held at an authorised deposit-taking institution or a bank or other financial institution;

    Debit Card Scheme means Visa Debit, Debit MasterCard or the EFTPOS System;

    Debit Card Transaction means, in relation to a Scheme, a transaction in that Scheme between a holder of a Debit Card of that Scheme and a Merchant involving the purchase of goods or services (whether or not it also involves the obtaining of cash) using a Debit Card of that Scheme that is Acquired by an Acquirer (but does not include any transaction to reverse such a transaction or provide a credit or make a chargeback in relation to such a transaction);

    Device means any card, plate or other payment code or device, including a code or device where no physical card or other embodiment is issued and a code or device used or to be used for only one transaction;

    Direct Issuer Participant means, in relation to a Scheme, a participant in that Scheme in Australia as an Issuer, or as a Sponsor for one or more Issuers, that is not an Indirect Issuer Participant in that Scheme in Australia. Without limitation, for:

       (a) Debit MasterCard and MasterCard Prepaid this means any Principal Customer or Association Customer, each as defined in the Rules of the Scheme, in its capacity as Issuer or as Sponsor for one or more Issuers;

       (b) VISA Debit and Visa Prepaid this means any Principal-Type Member as defined in the Rules of the Scheme in its capacity as Issuer or as Sponsor for one or more Issuers; or

       (c) EFTPOS System and EFTPOS Prepaid this means:

          (i) any eftpos Issuer that is not an Indirect Settler; or

          (ii) any Settlement Agent,

       with each of those expressions having the meaning given