What does VAR mean in merchant services?

What does VAR mean in merchant services?

value added reseller
Definition. A VAR (value added reseller) sheet, also referred to as a tear sheet, is a document that describes your account with your merchant bank (acquirer) or merchant services provider (MSP).

What banks use WorldPay?

WorldPay Online Commerce Suite can process VISA, MasterCard, American Express, and Discover. Contact your Merchant Bank to determine which of these cards you are approved to process.

What is a merchant service charge?

Merchant Service Charges, known as (MSC) are the charges taken on every credit and debit card transaction that the business accepts. Because, Cardholder not present (CNP) transactions carry the associated risk of fraud, acquirers will tend to charge you a higher rate to process the transaction.

What is var merchant account?

A VAR Sheet is a document containing important information about your Merchant account which is used in setting up your payment gateway. The VAR information allows communication between the gateway and the Qualpay.

What does VAR stand for in credit card processing?

A value-added reseller (VAR) sheet is a file that contains important payment processing information, such as: Merchant identification number (MID) Merchant account information. Business details.

How do I get my money from Worldpay?

Use the Payment and Order Details pop-up box to refund a payment (accessed via the Payments page). You can refund a payment immediately by using a Refund button provided. You can make both full and partial refunds. A full refund is when you refund the full amount that the shopper was charged.

Who is Worldpay owned by?

Fidelity National Information Services, Inc.
In March 2019, Fidelity National Information Services, Inc. (FIS), announced a $43 billion deal to buy Worldpay, reported as the biggest deal ever in the international payments sector.