A virtual terminal card payment is a web-based payment processing system that allows merchants to process payments online via a browser or mobile app. Virtual terminal credit card transactions are a great option for merchants who do a lot of business on the go, such as landscapers or contractors who provide services to clients remotely, or companies that require recurring billing.
A merchant can access their virtual terminal from any internet-connected device, including desktops, laptops and tablets, or from any location with an Internet connection. This is a major advantage over traditional POS hardware that requires specific hardware and software to operate, as it means merchants can utilize their existing devices for the processing of cards. It’s also much easier to have multiple employees access the system at the same time, which is often not possible with traditional point-of-sale hardware.
To use a virtual terminal, the merchant simply logs into their payment interface with their processor and inputs a customer’s credit or debit card information. They may be asked to enter the card security code (the three or four digit number on the back of the card) for extra verification. Then, the payment is processed and funds are deposited into the business’s bank account in as little as 24 hours.
Merchants who are considering a virtual terminal should look for a solution with cutting-edge encryption and security measures to protect their customers’ data during processing and the transmission of that information. Additionally, the best virtual terminals will offer PCI validation, a stamp of approval that indicates that the service provider is serious about security. virtual terminal card payments