payment card

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 6050W — for purposes of this section (2 versions over time)

The term “payment card” means any card which is issued pursuant to an agreement or arrangement which provides for—

(A) one or more issuers of such cards,

(B) a network of persons unrelated to each other, and to the issuer, who agree to accept such cards as payment, and

(C) standards and mechanisms for settling the transactions between the merchant acquiring entities and the persons who agree to accept such cards as payment.