V
Value Added Reseller (VAR).
Third-party vendor that enhances or modifies existing hardware or
software by adding a value to the services provided by the processor or acquirer and
certifies their software to be used on a processor's system.
Virtual Terminal.
A web browser based terminal used to capture, transmit and store credit card transactions throuh
the internet. Virtual Terminal applications are hosted on merchant services provider servers.
Voice Authorization. It is a type of authorization when issuing bank sends a "Please Call"
message to the merchant to make a phone call.
