Merchant Services Glossary - Letter V

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Valid Date

The date, embossed on the card, prior to which the card may not be used.

Visa

Originally BankAmericard, Visa is one of the two national associations, member-owned and governed by a board of directors that licenses its members to issue Visa cards under the Visa program and bearing the Visa design, and to accept Visa sales drafts. Visa owns and operates an international processing system and provides a number of various services to its members, cardholders and merchants. Their phone number is 650-432-2900.

Visa International

Visa International Service Association is a non-stock membership corporation formed to administer, promote and further develop the Visa Card Program throughout the world. Their phone number is 650-432-2900.

Visa USA Inc.

The non-stock membership corporation of Visa that provides administrative services within the United States. Their phone number is 650-432-2900.

VisaNet

VisaNet includes the data processing systems, networks and operations which support and provide authorization services, clearing and settlement services, exception file services, and other services. This network is considered a "Foreign Network." Click here for a list of phone numbers.

Vital Processing Services

Formerly known as Total Systems. A joint venture of VISA USA and Total Systems Services, Inc. that combines the TSYS merchant accounting system with the Visanet terminal product line.

Voice Authorization Center

The place a merchant calls to get verbal approval from an issuing bank to accept a credit card. The Voice Authorization Center is used if the merchant does not use a terminal to process transactions or if the Issuing Bank informs the merchant through a message sent tot the terminal that more information is needed on the Cardholder.

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