A virtual terminal allows your business to accept payments anytime and anywhere, with no card swipe or extra software needed.
If you accept online transactions, the virtual terminal can prove to be an indispensable resource for you.
Virtual terminals are an integral part of Safe2Pay’s comprehensive payment solution so we’ve created this guide to answer every possible question you might have about them.
What Is a Virtual Terminal?
A virtual terminal allows a business to manually enter transactions that are processed by phone or in person without needing an EFTPOS machine. The process is similar to when a payment gateway processes a purchase through an online store. However, it’s the merchant that is entering the payment details rather than the customer.
What Tools do you Need?
- An online payment gateway that provides a virtual terminal function.
- An internet merchant account.
- A mobile, tablet or computer with access to the internet.
Safe2Pay can easily provide an online payment gateway as well as an internet merchant account. Contact Safe2Pay now, to get set up with a comprehensive payment service in no time.
How Does It Work?
Using a virtual terminal is very easy. After logging in to your private dashboard, you’ll be able to accept your customer’s payment and view in real time whether their payment has been approved or declined.
Below is a step by step guide,
- Firstly, you log into your secure dashboard.
- You will then take the relevant information from the customer, enter it into the correct field and click a button on the web page to begin the process.
- Within seconds, you should know if the transaction is accepted or declined and you can deliver the product to the customer.
- This information is sent electronically to your business bank
- Following this, the data is sent to the issuer’s bank.
- The data is then transmitted back through the channels,
- And in most cases, the money will arrive in your merchant account after two days.
What are the Advantages of Using a Virtual Terminal?
There are many advantages of to using a virtual terminal including the following,
- The payment process is fast and straightforward.
- There is no additional hardware necessary.
- They allow a business to process transactions without having the card present.
- You can also use it to upload multiple purchases at once and can schedule recurring payments for your customers
Virtual terminals represent one of the simplest and most cost-effective payment processing solutions in the business sector. Advancements in mobile applications, only mean that virtual terminals are becoming more popular as they can now be transported anywhere, allowing you a truly mobile option.
Who Should Use a Virtual Terminal?
The Safe2Pay virtual terminal is ideal for any business owner on the go. Especially if you’re making low volume transaction and you don’t want to invest in equipment and complex systems.
Examples of business owners that frequently use virtual terminals include sole traders plumbers, market traders, craftspeople and charity workers. They are also instrumental in trade fairs and exhibitions.
Safe2Pay’s virtual terminal does not require any additional integration or development. No extra costs or time are needed to use it meaning anyone, anytime can use our virtual terminal.
Are Virtual Terminals Safe?
Security should be your primary concern when accepting credit card payments over the phone. There are risks, as there are with any payment which you can reduce with one simple precaution. Namely, making sure that the payment gateway you select makes security their number one priority.
You can ensure this by checking they are PCI compliant. PCI DSS stands for Payment Card Industry Data Security Standard, a worldwide standard that was established to help businesses process card payments securely and reduce fraud. To learn more about PCI standards click here.
Safe2Pay is a tier-1 service provider, the highest level of PCI Compliance possible. We take your safety seriously. We’re required to have annual third-party audits for PCI compliance and adhere to strict security guidelines. Safe2Pay also uses a patented tokenisation platform, with a one-time payment identifier generated for every transaction. With Safe2Pay’s virtual terminal your customer’s information is protected at every stage of the transaction.
Make it Easy and Sign Up with Safe2pay
A virtual terminal solution comes standard with the Safe2Pay payment gateway, and no extra investment or development is required. Just log into your gateway and begin accepting payments on the go.
Not only this, Safe2Pay offers one of the most secure virtual terminal solutions in Australia. Security is at the heart of Safe2Pay’s payment gateway, meaning you can get on with running your business, knowing Safe2Pay has you covered.
To learn more about our unique virtual terminal contact Safe2Pay online or call us now on 1800 723 327 for a free demonstration with a personalised virtual terminal.