7/30/2023 0 Comments Virtual payment terminalsExamples include artists, flea market or craft fair sellers, and businesses who attend tradeshows.īusinesses that take credit cards in office or classroom settings (such as doctor’s offices, dance schools, flight schools, etc.) may also prefer a virtual terminal. The most common are businesses that want to accept credit or debit card payments for goods or services purchased by phone, mail, or fax such as catalogue-based businesses, telemarketing businesses, or small businesses that don’t sell through their website.Īdditionally, businesses that need to accept payments on-the-go but prefer to use a computer instead of a mobile device could benefit from a virtual terminal. There are a number of businesses that could benefit from using a virtual terminal for card processing. What type of businesses could benefit from a virtual terminal? Additionally, many virtual terminals will allow you to process refunds or returns. Some payment gateways may also support recurring billing for easy processing of scheduled payments. Specific payment types may vary by processor, but most virtual terminals can accept major credit and debit cards (such as Visa, Mastercard, Discover, and American Express) and some can accept additional forms of payment, such as PayPal or electronic checks. You can use a payment gateway without a virtual terminal, but you cannot use a virtual terminal without a payment gateway. Payment gateways are used on e-commerce shopping websites when a customer pays for items they have put into an online shopping cart. After you enter information about a transaction into the virtual terminal, your processor handles the rest.Īdditionally, while virtual terminals are used by the business, a payment gateway can be used by a customer, allowing them to enter payment details themselves. You can think of it as the credit card machine of electronic card payments. A payment gateway functions as the “equipment” for processing a card. What’s the difference between a virtual terminal and a payment gateway?Ī virtual terminal allows you as the business to enter payment details to process a transaction on behalf of a customer. For example, a virtual terminal that is usually used at the office could be brought on the road for a tradeshow. Virtual terminals are frequently used in one location, such as a home office, but they can be used in different locations. With a virtual terminal, you can log in to your account to process payments and view reports from the terminal “dashboard” or menu. Virtual terminals are internet-based, meaning there’s no software to download, and the terminal can be accessed from any internet-connected computer. You can manually enter (key) card info or swipe it with an optional card swiper. Businesses enter the card details on behalf of a customer into a secure online form. What is a virtual terminal for credit card processing?Ī virtual terminal is a method of accepting credit and debit card payments using your computer. What type of businesses could benefit from a virtual terminal?.What’s the difference between a virtual terminal and payment gateway?.What is a virtual terminal for credit card processing?.Businesses that accept payments over the phone, by fax, or through mail orders can securely take credit cards using a virtual terminal, or a web-based portal using any computer with an internet connection.
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