Guide to Virtual Terminals: Features and Security to Expect

If you run a small business that needs to take orders and process card payments, then a virtual terminal may be for you. This may be if you need to take orders in person, over the phone, or online through a website. From food trucks to photographers, virtual terminals will be a huge time saver and can even help you generate more business.

How do virtual terminals work?

A virtual terminal is based online and allows you to take someone’s debit or credit card details and process a payment without the need for any hardware. While card readers need you to have a physical machine to take a payment, a virtual terminal allows you to simply add a customer’s card details to an application online and process the payment. This is done in a completely secure environment, and you’re covered if there are any issues with the transaction in the future.

Virtual terminal features to expect

The main feature you receive when signing up for a virtual terminal is the ability to take payments from someone who isn’t physically with you. This is a very helpful tool to have if you need to take payments from someone over the phone or via instant messenger, for example, and can be found by providers like CBD Merchant Account Payment Processing Solutions | Powercash21

Some virtual terminals do also come with an additional physical card reader, meaning you can quickly take payments from people that are in the store with you. This will allow you to take standard card payments, as well as contactless payments via a debit or credit card and through a customer’s phone if they have Apple or Google Pay set up. If your virtual terminal provider gives you the ability to take payments physically, you’ll be sent all of the hardware you need when you sign up. This will include a card reader that connects to your laptop via a USB cable or wirelessly through Bluetooth.

How secure are virtual terminals?

Security is an essential factor for anyone wishing to take payments either physically or over the phone. You need to be certain that all payments are going to be processed correctly, and that you have an easy way to view all of your payment information. When selecting a virtual terminal, make sure to check that it’s PCI-compliant, which means that it has all the features needed for secure transactions. With this, you’ll be able to take payments from anyone with a credit card from many different countries if necessary. All payments through your compliant virtual terminal software happen in a payment gateway that uses encryption to make sure all payment details are secure as a transaction happens. In addition, authentication can take place to add an extra layer of security. This means that an address is taken to verify the payment, or the CVV code on the back of the customer’s card is requested to help to prevent fraud.

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