![]() End-to-end encryption with tokenizationĪ well-defined virtual payment terminal conducts transactions inside a secure payment gateway that may use a tokenization technology.All these features are meant to make receiving payments an effortless job without any hindrance. The virtual payment terminal offers some outstanding features other than an online checkout form. Some exceptional features of a virtual payment terminal The functionality lets you set specific parameters for each client and process the payment whenever they make it. For businesses that work with clients who pay weekly or monthly, you can set up a payment schedule. Doctors, lawyers, or CPAs who run a private office and receive clients but can accept payments over the phone or through other means.Ī virtual payment terminal also offers the function of setting up recurring billing.Retailer and small shop owners who do not require a complete POS system or a credit card reader.Restaurants and other eateries that receive bulk orders over the phone or through online portals.Some professions, like freelance graphic designers, web developers, and writers, fall under this category. People who do freelancing and work from remote locations and don’t do much in-person interaction with their clients.But some business types who are specifically bound to reap significant benefits are: People from different business categories are effectively using a virtual payment terminal. Who benefits the most with a virtual payment terminal? ![]() Your virtual payment terminal will start working if you have an internet connection, a merchant account with a payment gateway, and a web browser. If you need to make in-person payments, all you need to do is connect a card reader using a USB input to a PC. And you don’t require any extra hardware or software to start. It is easy to turn any laptop, desktop, tablet, or smartphone into a POS system. It is a web-based application that lets you process electronic payment made through fax, email, telephone, or in person. The virtual payment terminal is similar to an online checkout form. ![]() Let’s find out more about a virtual payment terminal and how do they function. It is a cloud-based service that works in your internet browser and lets you process transactions in real-time from any device with an internet connection. This service requires no manual entry and can handle credit card payments for you. That’s where a virtual payment terminal comes in. But what if there is no physical interaction between you and your clients? What if you offer your service through phone or the internet? Or you want to provide an added payment service to your clients? Current payment solutions like a point-of-sale system or counter top credit card terminal give results. Whether you are running a private clinic or a quick-service restaurant, or a large multinational corporation, one thing they all share in common is accepting payment from clients. Each business is unique and so the way it functions.
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