Merchants’ Guide: Virtual Terminal
Startups and small businesses around the world know what a virtual terminal is and how to use them so that their customers can send payments to them wherever they are. This payment method differs from traditional credit and debit cards in that you do not need to install special software or physically swipe the card. Access to the virtual terminal can be obtained simply through the Internet.
The merchant virtual terminal gives flexibility in terms of accessibility to other employees. For example, call centre agents can instantly access a virtual terminal when they make a sale. Undoubtedly, the virtual terminal has become one of the most used tools for merchants.
Credit card transactions are not the only function that the virtual terminal performs. With a virtual terminal, you have the option to use the ACH payment option. It is much cheaper than the standard alternative payment options, which are accompanied by messages in the mail or receiving information by phone.
Virtual terminals were created not only for one-time payments but also for setting up regular ones. They have other obvious advantages, as it is the best choice for a merchant to process payments. A virtual terminal will be especially effective in use when you process a lot of transactions without a card. Thus, both you and your customers receive convenience and security. Other benefits include:
- Customers get a self-service payment option, especially when it comes to e-commerce. With a merchant account virtual terminal, you give your customers the opportunity to choose the appropriate payment option for themselves. They will benefit from virtual terminal merchant services.
- The virtual terminal is convenient to use because it has a clear interface for users and for the seller. In the virtual merchant terminal, most often you can find the history of transactions, the journal of automatic checks, and other data that may be valuable to sellers.
- Increased speed of making payments because part of the card reading is missing. Without the involvement of checks, faxes, and phone transactions, merchants receive their funds at high speed.
- Depending on which payment gateway you have chosen, you can offer your customers more payment options. For example, a common option such as a subscription or other types of recurring payments can grab your customer’s attention.
- The free merchant account virtual terminal provides protection for both the buyer and the seller. In real-time, all customer credit card numbers are well checked. At the same time, it is the payment gateway that remains responsible for what level of security is set for transactions. This means less is required of you as a seller. The advantage for small businesses and start-ups is that new product launches can be faster because they don’t have to worry about how this launch will affect the security of all data and the payment process.
The virtual terminal is a step towards the digital future that eliminates manual tasks and fully automates your business. Opening a PayDo account completes the whole picture of an effective business on the Internet – it will allow you to be more flexible and individual to the needs of your customers. Make payments online anywhere in the world for business and personal purposes after you open a European online bank account.