Virtual Terminal Payment Processing for Beginners
For those of you online merchants out there who are already familiar with virtual terminal payment processing, this introductory piece should serve as a refresher for all the knowledge you gained in establishing, maintaining, and perhaps expanding your Internet store; virtual terminal payment is an essential aspect of online business, and fuels many online merchants’ businesses throughout the nation – and the world.
When your customers or clients pay you online, there is of course an increased risk of fraud, as the patron is not physically present with the card at the time of purchasing your goods or services. As such, certain encryption and security measures are taken to minimize the risk of online identity theft or other such issues. But, what are some basic functions and uses of virtual terminal payment processing? Let’s take a look.
With virtual terminal payment processing, you can easily and securely facilitate transactions involving both payment via credit card and payment via electronic check – essentially from any location, if you have a computer connected to the web. All you have to do is log in to a secure site. From there, you can easily charge certain credit cards, authorize transactions, and more. Although more commonly in use today for most online businesses, virtual terminal payments can be made for businesses that accept payment via phone or fax, as well.
Along with your standard virtual terminal payment-processing plan, VPS also offers full-service reports for your transactions, detailing every little facet of purchases, accounts, and more.
Commonly, businesses like call centers, utility service companies, charity donations, carpet cleaners, services to which patrons can subscribe, such as magazine and paper publishers, sellers of insurance, and more. A virtual terminal payment set-up is not only convenient, safe, and reliable, but busy merchants like you can check the status of your transactions, perform refunds and exchanges, issue refunds to patrons’ cards, set up a recurring billing business model (such as with the magazine business example, for instance), capture transactions that have been authorized prior to interfacing with your virtual terminal payment interface, and most importantly, key in your customers’ or clients’ sensitive financial information manually for orders that have been placed by mail or phone – not just over the Internet
If you would like to know more about our virtual terminal payment solutions for Internet, mail, and phone businesses, or if you already know that you would prefer to partner with Vision Payment Solutions for virtual terminal payment processing, call us at the number above today, and experience a whole new level of payment-processing service.