Virtual Payment Terminal

Virtual terminals can be used by all business no matter their kind or size.

Nevertheless, companies that accept orders by phone or email, freelancers or home-based businesses may be more inclined to use them.

Virtual payments represent all transactions that take place on a virtual terminal, rather than a physical terminal. In order to have a virtual payment transaction, companies need to set up virtual terminals. These are software applications for merchants with an ability to capture online transactions made by credit cards and to process online payments without the need for the physical presence of the card.

Virtual terminals are web-based applications that allow you to process payments similar to a physical point of sale system. The only difference is that these transactions are taking place over the phone, and there is no physical presence needed by the customer who is making the purchase. To process credit card transactions, you will need a merchant account and to set a payment gateway for your virtual terminal. To learn more about this subject, feel free to contact us.

Virtual terminal transactions are all web-made transactions that take place inside of a merchant application over the phone. Virtual terminals are used to process over the phone card transactions and they represent a quick and safe method to purchase goods and services over-the-phone using a credit or debit card.

Virtual terminals are known for their safety. They provide a secure, PCI compliant way to accept credit cards. All data entered into the virtual terminal is encrypted by the gateway to assure the utmost protection while the transaction is occurring. They act as a safety net, minimising fraud chances and the risk of unauthorised transactions. Still, it is essential that you protect your personal credit card information and not share it with anyone. Virtual payments can also be made using tokens to secure sensitive information during transactions.

As the name suggests, online payment gateways are gateways between merchant and client. Online transactions start with the client entering the details of their card on a payment portal. To ensure that no classified data is stolen, all credit card information is encrypted before sent on to the gateway. Payment gateways are responsible for shipping the credit card data to the bank so that it can be verified and the transaction authorised. Virtual Terminals function very much alike to Payment Gateways but with some key differences. No extra hardware or programming is required with most of the transaction processes handled by the merchant. Usually, payment details are passed to the merchant by the client through a mobile phone. The merchant, after logging onto the Virtual Terminal, enters the client’s card details for the payment to be processed. The credit card network is then contacted by the Virtual Terminal to approve the payment.