Virtual Terminal Credit Card Processing

Virtual terminal credit card processing allows you to take in-person payments by phone or mail without the need for expensive point of sale (POS) systems and payment hardware gadgets. Typically, you can use a tablet, smartphone, or computer to manually enter customer information and click a button to submit the transaction for processing. Then, you receive confirmation that the card has been approved or declined, along with an email receipt to send to your client.

Since these are card-not-present (CNP) transactions, your payment gateway will verify the credit card information with the network and the card-issuing bank before approving the payment. In many cases, your merchant services provider will also gather extra security information for these transactions such as the card’s billing address and zip code verification for increased fraud protection.

A virtual terminal is ideal for small businesses that do not deal with high volumes of in-person sales, but need to take payment over the phone or by mail. It can also be helpful for professionals like accountants, doctors, and attorneys who see their clients in the office but sometimes need to take payments over the phone or through fax or mail.

You should compare several virtual terminal providers to find one that matches your business’s unique needs. Some offer a wide variety of products, while others specialize in particular types of credit card payments. Make sure you also look at each provider’s fees to understand the full picture of how much it will cost to process payments with them. virtual terminal credit card processing

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