One of the greatest boons to merchants is the mass proliferation of credit and debit cards. Most people today only carry about twenty dollars on a daily basis as most people now use their cards for purchases. Studies have shown that customers tend to spend more when using a credit or debit card, which is a fact that any merchant should realize is incredibly important. Accepting credit and debit card payments can be a hassle for some merchants but having a virtual terminal is a proven solution that Merchant Processing Advisors can provide to all our clients.
So what exactly are virtual terminals for merchant accounts? Basically, a virtual terminal is when the merchant uses the internet to process credit card payments by using their desktop computer, laptop, mobile device, or tablet. Virtual terminals take the place of equipment like POS machines and physical terminals. A virtual terminal uses web-based software that is hosted by a merchant’s account provider. As long as any business, be it a high risk or low risk merchant, has an internet connection, they can process payments with ease.
There are some tangible benefits for merchants to use virtual terminals. They require no special hardware as the business uses their own device (computer, tablet, mobile device) and the application is hosted by the service provider. This means that you’ll save money by not being forced to buy new and expensive equipment. A customer’s information can also be stored in the gateway database to set up for any future or recurring billing.
Another huge benefit of virtual terminals is that you can do business anywhere. You can set up shop at a convention, swap meet, over the telephone, or even while waiting at an airport. As long as you can log in to the internet, you can process credit card, electronic checks, and debit card payments. Just because you’re out of your office does not mean that you need to lose sales.
Call Merchant Processing Advisors to learn more about the incredible benefits offered through the use of virtual terminals. We’ll be glad to answer any questions that you may have.