Virtual terminal payments are a convenient way to process credit cards for in-person or over-the-phone sales, especially when your customers aren’t ready to pay right away. This type of payment solution is easy to use and requires a computer with a web browser or mobile device such as an iPhone, iPad, Android, or BlackBerry. Most virtual terminal providers include a USB credit card swiper that you can connect to your laptop or desktop for fast and secure data entry.
You can start a payment from scratch or from an existing customer invoice or order. If you’re taking payments over the phone, look for a provider that offers remote signature capture so you can get an electronic signed receipt that you can email to your customer.
Most providers offer an array of tools to prevent fraud and help you keep your customers’ credit card details safe during a transaction, including end-to-end encryption and tokenization. Some even offer PCI validation, a stamp of approval that shows they take security seriously.
Many virtual terminal providers also let you set up recurring payments (also known as subscription billing) for in-person or over-the-phone services, such as lawn care, accounting, or other professional fees that require weekly, monthly, or annual payments. This can be especially helpful for service-based businesses that are not always in the office and need to make sure their customers have an option to pay them on a consistent schedule. You can choose to store a customer’s card on file with your virtual terminal, which will enable them to be charged automatically at a later date. virtual terminal payments