§ 12–1401
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-1401 (2026)
Title 12. Credit Regulations
Subtitle 14. Credit Card Processors
§ 12–1401LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
(1)
“Credit card processor” means a person that processes credit card or electronic commerce transactions on behalf of a business entity for a fee.
(2)
“Credit card processor” includes:
(i)
A merchant services provider;
(ii)
A financial institution;
(iii)
An independent sales organization; and
(iv)
Any subsidiary or affiliate of an entity listed in items (i) through (iii) of this paragraph.
(c)
“Merchant processing agreement” means a contract between a credit card processor and a business entity under which the business entity agrees to pay the credit card processor for processing credit card or electronic commerce transactions on behalf of the business entity.