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Term Definition
Value-add Reseller (VAR)

An entity, such as an Independent Sales Organization (ISO), that delivers services and/or solutions to optimize a merchant’s transaction management or business practices.

Verified by Visa

A security program that requires merchant registration and allows merchants to minimize their risk of chargebacks and returns while, at the same time, provides additional protection to their customers who use Visa cards.

Virtual Point of Sale (VPOS) Terminal

A process that allows brick and mortar retail merchants to submit debit and credit card transactions via a card reader and a computer equipped with Windows Internet Explorer (IE).

Virtual Terminal

A solution that allows merchants to submit their card transactions by manually keying in and submitting transactions or via a VPOS.

Visa Cardholder Information Security Program (CISP)

Visa’s security compliance program that protects sensitive data and technology of merchants and merchant service providers Member institutions are required to comply.

Void

The denial of an attempted debit or credit card transaction that was not submitted for batch settlement Merchants must submit the transaction so it can be voided. Once voided, no further action is allowed on that transaction. A refund must be submitted if a batch settlement containing that transaction has been completed.