Value Added Reseller (VAR)
A Value Added Reseller is a company that enhances the value of existing products or services by adding customized features or services and then resells them.
In the payment industry, a VAR may offer integrated payment solutions by combining hardware, software, installation services, and payment processing into a single package. This single package solution can greatly benefit businesses by simplifying their payment processing needs, reducing the number of vendors they have to deal with, and potentially lowering their overall costs.
VARs often work closely with payment processors, software developers, and hardware manufacturers to create tailored solutions that meet the specific needs of their customers. They may also provide additional services such as technical support, training, and maintenance.
Ultimately, VARs play a crucial role in the payment ecosystem by helping businesses to optimize their payment processing operations, enhance their capabilities, and improve their customer experience. By creating customized solutions, VARs can help businesses to differentiate themselves in the market, streamline their operations, and improve their overall efficiency.