Terminals that process online credit card transactions are called virtual terminals. The main purpose of virtual terminals is to allow credit and debit card payment transactions to be successfully completed through the medium of the internet.
Reasons for obtaining a virtual terminal
Virtual terminals boast highly advanced technology that is designed to process payment transactions without the physical presence of a credit or debit card. This is a favorable feature of these terminals as individuals and companies are able to conduct payment transactions to the merchant from anywhere across the globe. As clients are able to pay for goods and services from their remote location, retailers and merchants are able to build a broad customer base that spreads worldwide.
Another feature that enhances the use of virtual terminals is the flexibility they offer customers. Individuals and companies are able to choose their preferred method of payment therefore catering to a wider scope of customers’ needs. As clients can choose their payment method, they tend to acknowledge the freedom and flexibility that your company is offering them, thus building a loyal and satisfied customer base.
With the rise in customers choosing online payment transaction, it is imperative that merchants have the necessary safety measures in place. Virtual terminals offer high levels of security for both the merchant and their customers, provided that the merchant fulfills the necessary criterion for the certification such as PCI compliance.
Merchants who wish to offer their clients virtual credit card processing are advised to seek the assistance of a professional consultancy firm. Through the advice of experienced consultants, you can ensure that you obtain, integrate and implement their virtual terminal in a professional and timely manner.