How A Virtual Terminal Works With Your Merchant Account

A virtual terminal is useful for online businesses that sell products or services, or for those who may be selling items outside the Internet such as at a craft or antique mall or any other special merchant event. Business owners use virtual terminals for credit card processing, but first in order to do so, they must have signed up with a merchant account. Someone who owns a virtual terminal has to log in and enter all credit card information themselves.

There are a few conveniences to using a virtual terminal. When using a virtual terminal, a buyer’s credit card does not have to be present or even swiped. All that is needed to complete the transaction and credit card processing is the debit/credit card number, type of card (MasterCard, Visa, etc) expiration number and the three special numbers found on the back of the card. Then the merchant simply keys in all of the credit card’s information, and then transaction is able to be made.

While it is easy to process credit cards without having the actual card present, sometimes using a virtual terminal can allow for fraud or identity theft to occur. Anybody could present a working credit card number and its information without actually proving that the card is theirs. Because of this possibility, some may not decide to choose a virtual terminal.

For merchants who do decide to use virtual terminals, the process is fairly simple. Once they have a merchant account, they log into their account by clicking on a link that may state “virtual terminal.” After being logged in, all of the credit card’s information is keyed in by the user. The information will then be processed over secure servers and the money is withdrawn from the credit card user’s bank. Once the money has been withdrawn, it is then sent to the business owner’s account.

Although, not only will business benefit from the uses of a virtual terminal, but organizations who are raising money for charities can depend on them to collect donations too. Charitable groups may have a special stand, area or website where interested individuals can request to donate money, and a virtual terminal will be used to process credit cards for donations too. This is also very convenient for non-profit groups.

With the advancement of technology, companies like PayPal are allowing for more credit card processing to be done by using cell phones or applications that are downloaded onto iPads or Android phones. A computer using the Internet may not even be necessary for credit card processing. For those selling merchandise or raising money for charitable causes, and there is no nearby Internet connection, they can always opt out the “old fashioned way,” and write down all of the credit card’s information on a special receipt, so that they can process the credit card when a connection is available or once they had back to their business or organization’s headquarters.

Using a virtual terminal can be very beneficial to any business or organization. It allows a number of ways to collect a payment such as over the phone, fax, Internet or by using an electronic check. With this number of choices available, it can also help increase a business or organizations sales and donations. Not only will these options increase the sales of a business, but it also will produce more satisfied customers who may return again.

Veritrans Merchant Services is a merchant account provider in Houston TX.
1301 Regents Park Dr, Houston, Texas 77058
(281) 474-4144 ‎

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