The Virtual Terminal Solution for Credit Card Processing
Virtual terminals are the future for many credit card merchants. They are necessary especially when conducting business online, and can save you a ton of money and improve your business process in the long run. Learn about the advantages and disadvantages of implementing the solution below.
What is a Virtual Terminal for Credit Card Processing?
A virtual terminal is a way merchants process credit cards. With the implementation of this credit card processing solution, the processing of your business’s transactions does not occur in your office. Instead, the transaction process occurs at another location, which allows you and your business to benefit from the security and features available through the other location.
A virtual terminal is a service that you can access through a web browser (i.e. Internet Explorer, Firefox, Safari, Chrome, etc.). When you access it, it appears just like a web site, and you log in to access your data. Depending on which one your business utilizes, it might also run without you being logged in. For example, a regular monthly charge can be running automatically, and invoices generate on their own at a time of the month, week, or year that you specify.
However, a virtual terminal is not considered a web site— it is considered an application just like Microsoft Word, Quickbooks credit card processing, or Adobe Acrobat. What you don’t see are the benefits the application has to offer.
If you choose to integrate the solution with your point of sale system, it will save you time and money.
Implement a highly secure network when storing cardholder data inside your business’s local network.
When choosing a solution foryour credit card processing, it is imperative that you access which solution best fits your business’s needs. Choose a virtual terminal that seamlessly integrates with your point of sale system—based on the benefits previously discussed.