Payment Glossary

Value Added Reseller (VAR)

A value added reseller is a company that sells products and / or services that are repackaged for specific needs.

Related Terms

  • NACHA (National Automated Clearing House Association – The Electronic Payments Association)

    The national trade association responsible for developing and enforcing ACH rules and guidelines.

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  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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