1. Definitions

• “Buyers” means Checkout Buyers, Invoiced Businesses and your Consumers.

• “Buyer Terms” means the the terms for your Consumers.

• “Card” means any form of credit card, debit card or pre-paid card issued by an Issuer under a Card Scheme.

• “Card Scheme” means Visa Inc, MasterCard Worldwide, Cartes Bancaires, JCB, American Express, Union Pay International, Diners Club International/Discover Network or comparable bodies which provide Cards and regulate Card acceptance and includes alternative payment methods and schemes such as PayPal.

• “Chargeback” means a transaction which is successfully charged back or reversed, in whole or part on the request of a Checkout Buyer or a payment method provider pursuant to the relevant Payment Scheme Rules and may or may not incur a charge.

• “Checkout Buyer” means an end customer who purchases the Product using the Pandabase Checkout.