VAR = “Value Added Reseller”
Every Merchant Account has a “file” built with all the critical Merchant Account information.
(the MID, the bank account information, the business information, the processor information etc)
RETAIL MERCHANT ACCOUNTS:
When the Merchant Account is being used with a physical terminal, the file loaded into the terminal.
ONLINE MERCHANT ACCOUNTS:
When the Merchant Account is being used with a Gateway or third party software, the information is put into a VAR Sheet and given to the Gateway Provider (in this case, Easy Pay Direct). We then enter the information into our Gateway – which allows our Gateway to communicate with the Merchant Account Provider to complete the payment process.
Getting a VAR Sheet is the final step in the approval process for a Merchant Account Application.