![]() ![]() ![]() How Spenda’s virtual terminal will benefit your business Because a virtual terminal relies on WiFi connection, it delivers the added benefit of knowing that you can always take a payment, even if your EFTPOS machine stops working and cash is not an option. Using a portable device means you can quickly process payments anywhere and at any time – which can be especially helpful during high demand periods.Īt Spenda, we offer a powerful and portable POS solution complete with a virtual terminal and an in-built card scanner which removes manual errors and speeds up the sales process. It’s quick to set up and easy to use, eliminating the need for costly outlays on traditional retail hardware such as credit card terminals or bulky point of sale (POS) systems. Put simply, a virtual terminal is a web-based payment terminal which enables you to use a device such as a tablet to process payments. So, what is a virtual terminal? And should more businesses make the switch? As retailers adapt to the demand for contactless payment and effortless transactions, scanners and bulky EFTPOS machines are quickly becoming a thing of the past thanks to virtual terminals and new technology. The process is also known as card non-present transaction and includes entering the customer's card details into the virtual terminal to handle the exchange.In an ever-changing digital and retail landscape, Australians are fast embracing new digital payment technologies. MO/TO are suitable for organizations whose customers are far away and therefore, are unable to present a credit or debit card physically. Virtual POS allows for MO/TO payments, also called Mail request/Phone request transactions. Some processors offer their merchants the use of a credit card vault to securely store their customers' card information. ![]() ![]() One alternative for merchants to having a repeat customer supply this information over the phone is to utilise a credit card vault. To verify this, the virtual terminal will often require the card security code to be entered, which the customer must supply. While the physical card need not be presented to the merchant (which would be impossible over the phone), the customer authorising the payment should still be in possession of the card. The payment data is then automatically sent to the payment processor to handle the payment. Unlike when accepting payment with a regular payment terminal, the presence of the payment card is not required. When a customer wants to pay with a card over the phone, a virtual terminal allows the person accepting payment (such as a call center agent) to enter the customer's credit card details to take a payment. They are called “virtual” terminals in contrast to the physical payment terminals used to process card payments when the payment card is present. JSTOR ( February 2023) ( Learn how and when to remove this template message)Ī virtual terminal is a software application (often a web application) for merchants which allows them to accept payment with a payment card, specifically a credit card, without requiring the physical presence of the card (“card not present transaction”).Unsourced material may be challenged and removed.įind sources: "Virtual terminal" payment processing – news Please help improve this article by adding citations to reliable sources. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |