Virtual terminal credit card processing is a solution for businesses that need to accept payments over the phone, via email, or by mail but don’t have a physical storefront. For example, professional services like doctors, accountants, and lawyers may see clients in their office but take payments over the phone for medical expenses, tax preparation fees, or legal services.

Typically, this type of payment processor transaction involves the use of an online virtual terminal that is accessible via a web browser or mobile device. Once logged into an internet portal, you can enter the customer’s credit or debit card number or ACH account information to process a payment. The online terminal will then send the card details to your merchant account and payment processor for approval and deposit.

Your virtual terminal may feature a number of security features to help protect your customers’ data and your business from fraud. For example, it may support end-to-end encryption or tokenization to replace sensitive card details with unique alphanumeric IDs that are meaningless outside of the payments system (and your payment processor). This helps minimize PCI scope and liability and protects you in the event of a data breach.

Many virtual terminal providers offer two-day funding for card-not-present transactions and 24×7 customer service for recurring payments. When comparing virtual terminal options, make sure to look at all the services offered and choose one that matches your business needs. And, don’t forget to ask for competitive rates and a clear fee structure. virtual terminal credit card processing

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