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Glossary

Variable interest rate
An interest rate that may change from time to time. For example, a movement in the base rate would usually have an effect on an interest rate.
VbV (Verified by Visa)
The Visa brand name for their service that uses the 3D Secure standard (the technical standard developed by Visa and MasterCard to further secure card transactions over the internet).
Virus
A virus is a programme that can replicate itself by inserting (possibly modified) copies of itself into other programmes, documents or file systems; this process is described as the infection of a host. Although some viruses may be relatively benign (e.g. displaying a political message on a certain date) most are destructive. This destruction will occur either immediately, after a set time delay, or after the computer user takes a specified action. The replication itself can cause problems through the waste of computer resources.
Visa
An international card scheme.
Voice authorisation
Authorisation by means of communication between merchant and authorisation centre by normal telephone.
Voice referral
The procedure which may follow an authorisation request where a merchant is requested to contact its acquirer for further instructions or the communication of further information about the cardholder or transaction.
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