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Value-Added Reseller (VAR)

A value-added reseller (VAR) is a company that increases the value of another company's product before reselling it to the end user. This added value may come in the form of service, installation, customization, or additions to the product itself. Value-added resellers typically make their profit from what they add to the product rather than by marking up the price of the product itself.

Velocity Check

Velocity checks are a fraud prevention tool that can help e-commerce merchants stop fraudsters from using stolen credit card information to make purchases. Velocity checking looks for multiple transaction attempts made in quick succession with certain details in common, such as the same credit card number or IP address. This can identify card testing and flag fraudsters trying to make multiple smaller purchases to avoid scrutiny. Read more >>>

Verified by Visa

Verified by Visa is Visa's implementation of 3-D Secure 1.0, a tool that enables e-commerce merchants to reduce the risk of fraud by asking the customer to enter a password that the cardholder set up with their bank. If the customer isn't the cardholder or an authorized user on the account, they likely won't know the correct password. With the advent of 3-D Secure 2.0, Verified by Visa has been largely replaced by Visa Secure.

Virtual Account Number

A virtual account number is a separate credit card number tied to an existing account. This number can be created to expire after a single purchase, a number of purchases, a specific amount of time, or when the purchase volume reaches a certain total. In some cases, virtual account numbers can be set up to only make payments to a single vendor. Read more >>>

Virtual Commercial Card

A virtual commercial card is a payment card number that's linked to an existing commercial card account but features certain restrictions designed to prevent fraud. These restrictions may limit the virtual card number to a single use, a single payee, or a certain amount of total spending. The use of these cards ensures the primary account number isn't exposed. Read more >>>

Virtual Point of Sale (VPOS)

A virtual point of sale (VPOS) is a system that allows a merchant to accept credit card payments without installing any hardware or software. Instead, the merchant logs in to the provider's website in order to process payments using the web interface, typically by manually entering the customer's payment credentials.

Virtual Terminal

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

Visa BIN Attribute Sharing Service (VBASS)

The Visa BIN Attribute Sharing Service (VBASS) is a method of sharing detailed information encoded into a card's BIN with acquirers and merchants. While the primary purpose of a BIN is to identify the card network and issuing bank, additional information can also be included in the number, such as whether the card is for a commercial or consumer account, the type of payment card, and the currency used by the issuing bank. Read more >>>

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.

Visa Claims Resolution (VCR)

Visa Claims Resolution (VCR) is an initiative rolled out by Visa in 2018 that made major changes to Visa's chargeback process, including automatically assigning liability for certain chargebacks, changing the system of chargeback reason codes, shortening the response deadlines for each stage of the chargeback process, and requiring merchants to acknowledge all disputes. Read more >>>

Visa Dispute Monitoring Program (VDMP)

The Visa Dispute Monitoring Program (VDMP) is a system set up by Visa to track merchants who receive a high number of disputes and incentivize them to find ways to correct the issue. The chargeback ratio of each merchant is tracked on a monthly basis. If it exceeds a certain threshold (0.9% for Visa, 1% for most others) the merchant may face fines and additional chargeback fees. Read more >>>

Visa Fraud Monitoring Program (VFMP)

The Visa Fraud Monitoring Program (VFMP) is a sytem set up by Visa to keep track of how many fraud claims are made against a merchant and incentivize those with high rates of fraud to find a solution to the problem. Merchants enrolled in the VFMP will have liability automatically assigned to them in fraud-related chargebacks without the possibility of appeal. Read more >>>

Visa Issuer Monitoring Program (VIMP)

The Visa Issuer Monitoring Program (VIMP) is an initiative intended to reduce the overall rate of fraud in the payments industry by identifying issuers that aren't taking the appropriate precautions to prevent it. An issuing bank may be enrolled in the VIMP if its ratio of fraudulent to legitimate payments exceeds 1% and the total volume of fraudulent payments exceeds $500,000. Read more >>>

Visa Merchant Purchase Inquiry (VMPI)

Visa Merchant Purchase Inquiry (VMPI) was a system designed to allow participating merchants to send additional transaction details to issuers automatically upon request. This was intended to reduce the number of false disputes by jogging the memory of forgetful customers and dissuading potential fraudsters. After acquiring Verifi, Visa merged VMPI into Verifi's Order Insight system, which fills the same role. Read more >>>

Visa Resolve Online (VROL)

Visa Resolve Online (VROL) is an online platform created by Visa to allow merchants and issuing banks to communicate more quickly and efficiently. Merchants can send and receive messages, provide documentation, and choose how to respond to disputes using the platform. Only Visa disputes can be managed through Visa Resolve Online. Read more >>>

Visa Secure

Visa Secure is Visa's implementation of 3-D Secure 2.0. 3-D Secure 2.0 is a method of customer authentication that involves the merchant sending transaction details to the customer's bank in real time. The bank can then either confirm the transaction as legitimate or send the cardholder a one-time password to enter to confirm their identity.

Void Transaction

A void transaction or voided charge is a credit or debit card transaction that has been canceled by the merchant before settlement. If a merchant notices an error in time, the pending transaction can be voided, eliminating the need to issue a credit. After being voided, the transaction may still show as pending in the customer's account for a few days.