The term ‘virtual terminal’ refers to a secure web page that allows merchants process credit card transactions. Every single thing about the terminal is easy, simple and efficient. Just log into your virtual terminal with a web browser, enter the credit card number, the amount, customer name and click the submit button. The payment is 100% secure and you get the funds within no time. Moreover, if you want to deliver an email receipt the customer, simply include the email address. Ain’t everything easy and quick? It is interesting to know that many other golden benefits are also associated with virtual terminal merchant account. Let’s unveil them.
Huge cost savings
Virtual terminals have no surcharges fees, as the customers are not physically present while making the card payment. This is a wonderful aspect, as it leads to great cost savings to the businesses that run transactions for phone orders via POS terminal. It helps merchants save approximately 0.50% when they shift to these terminals. However, this depends on the trading volume and rates with the current processor. Therefore, it is recommend to ask for a quote to calculate the savings in advance.
No Hardware Costs
As no special hardware is needed to be purchased, ample funds are saved. All what you need is a computer system, smarthphone or tablet. This way, businesses can enjoy the most cost-effective solution to accept credit card payments.
Multiple Users at Once
Unlimited employees can have a common virtual terminal. It is possible to provide permission levels to tailor what each employee can see or access within the system. This is a very rewarding feature to those who operate a business with multiple locations, as a single terminal can be used throughout the business.
Business & customer security
A highly secure method, as no data of any cardholder is stored in the system. Reason behind is that the process works by logging into an encrypted page via a standard browser. After all the details such as credit card number, amount to process, etc. are submitted, there is no access to the card number. With advanced fraud screening tools, greatest level of security is assured.
Support For Refunds, Recurring Billing and Pre-authorizations
The highly advanced functionality supports every type of transaction, be it pre-authorizations, recurring billing, real time transactions or full and partial refunds. The recurring billing service allows charging a customer in any amount and on any billing period. There is no need to save credit card details for this. This is because the payment server stores the sensitive details and sends a transaction report each day.
Use iPhone, tablet or Android phone to process payments
Now this is a very amazing feature and lets you use process mobile transactions. With just an internet connection, it is possible to process cards securely. Whether you have an iPhone, Android phone, tablet or Blackberry, you can use them all.
It is exciting to know that virtual terminal can be used even at trade shows. Yes, you heard it right. As every smartphone has its own data connection for internet, you can use it and process transactions from anywhere without depending on an internet connection or a POS machine.
With all the amazing feature, what are you waiting for? Get started with virtual terminal and keep your customer connected to you 24/7.