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Valid Date
The date embossed on a payment card stating when the card may first be used.
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VAR
Value Added Reseller - a third-party that certifies
their software to be used on a processor's system
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Visa USA
A member-owned national bankcard association, governed by a board of directors, which licenses members to issue cards and accept
merchant drafts under the Visa Program. MasterCard owns and operates its own international processing network.
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Voice Authorization
Transactions authorized by a voice operator. Voice-approved transactions must be "forced" into a terminal batch for settlement.
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