Process Card Payments in The Most Cost-Effective & Secure Way

Virtual terminal is a web application that is used to process credit and debit cards. It allows merchants accept card payments through fax, phone or e-mail. Any computer that has a web browser and an internet connection is good to work with such terminals. Processing payments this way is quick, secure and reliable; hence, is a great option for small businesses or startups. As the cost of online credit card is less and lets businesses accept card payment anytime 24/7, such merchants can reap huge benefits from them. 

Best thing about virtual terminals is that they have a reasonable amount, are easy to use, simple to set up and save ample time. All that is required is a compatible merchant account that suits the business types and needs. Besides controlling and monitoring the functionality of a typical card machine, merchants can carry out refunds, settle transactions and repeat payments. 

How virtual terminal works?

If you are wondering how the process works, here is all you need to know.

In this sort of payment processing, merchants get orders through fax, phone or mail with a credit or debit cards. They log in to their service provider and open virtual terminal. Here, they enter single or multiple transactions along with transaction information and billing details. Once this is done, they submit the payment which then gets processed by the service provider. This way, the amount paid is automatically credited into the merchant’s account. It is useful to know that merchants having enough volume can enter details through a card reader. 

For better clarity, check out the steps in an easy way:

1. Customer makes an order by phone via their credit card.

2.Merchant logs in to virtual terminal or VPOS.

3. Following details are entered:

   •Name, phone number, e-mail and address of the customer

   •Amount, card number and CVS for payment details

4. Click the ‘process’ option

5. Transaction is processed by the terminal

Why use virtual terminal?

A number of benefits can be cherished with these terminals on your side. Check out the major advantages below:

1. Get offline sales: Get clients’ order even when you are offline, all thanks to fax, phone and e-mail channels. Approve payments, get funds, void transactions and issue refunds anytime without any risk or threat. 

2. Save amply money on software and hardware: As everything gets done through computer, no need to buy special hardware and software and waste money. 

3. Receive funds instantly and safely: Once the transaction is approved, payment is transferred into the merchant account within minutes. 

4. Generate reports: Generally, virtual terminals are pre-integrated into service providers reporting systems.

5. Stay alert about frauds: Depending on one’s business, they can choose their preferred level of fraud protection. 

6. Accept card present payments: If a business is interested in accepting credit or debit card payments in person, they can easily add a secure card reader that plugs into their system’s USB port. 

Attend multiple users with a single terminal

Running a business is not an easy task. At times, attending multiple users at a single time is not easy. In such matters, merchants can enable other users to enter the details via the user management interface. Not only this but virtual terminal merchant account also gives businesses that option to give their employees entire access besides limiting them to enter card details and accept payments solely. No need to worry about anything, as the terminal is secure and none of the information is exposed or leaked. 

Get started with your virtual terminal account and accept payments 24/7 without risk of fraud payments.