Virtual terminal is an online version of the credit card swipe machines used in stores. It has an added advantage of increased sales, and cost saving. No expenditure on expensive equipment is required, hence it becomes a highly cost effective way. Virtual terminal becomes the best option for the merchants who are into the manual swiping of the credit cards as they enter the card and check the transactions for mail/telephone order sales.
Virtual Terminal allows you to process credit card transactions from any computer with an Internet connection in the world. All you are required to do is to login to a secure website with a login and password and you are able to charge cards, perform authorizations, and even process credits. In addition you have complete online reporting of all your transactions and orders.
A customer may want to place an order by e-mail, phone or fax. A merchant is required to punch in the order into the virtual terminal, billing information along with other necessary details and the transaction is then processed and he gets paid. Using a virtual terminal is easy, affordable, convenient, and allows for expansion of business as a merchant may get paid by phone, fax, and mail, in addition to the internet, thereby reaching more customers.
There is some monthly fee that includes 24-hour customer service and future upgrades. The Virtual Terminal can be saved on any number of computer “desk tops”. This implies unlike software packages that charge for upgrades, customer service, and licensing fees. The Virtual Terminal is all inclusive allowing you to effectively manage your cost associates with accepting credit cards.
Virtual Terminal / Online Terminal Features:
- Recurring Payments
- Address Verification Service (AVS)
- CVV2 support for additional fraud control
- Customer and Merchant email notifications
- Faster processing time then traditional POS terminals
- Detailed reporting capabilities
Virtual Terminal / Online Terminal Advanced Features:
- Automatic item sub-total calculation
- Automatic shipping calculation
- Automatic tax calculation
- Item discount calculator
- Coupon/rebate calculator
- Billing and shipping data fields
- Credit card swipe card option
