Virtual Terminal Payment

By Author: vision payments
Total Articles: 16
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A Virtual Terminal Payment is a transaction that is done using a credit card or check on any computer that has a secure Internet connection. What is needed is a secure log in and password which then allows one to process orders coming in through the phone, fax or email mediums. The process is done manually since the physical credit card or check is not available for swiping.

Some of the businesses that can benefit from Virtual Terminal Credit Cards include charities, trade shows, newspaper and magazine subscriptions, call centers and many service companies.

Some of the virtual terminals for credit card processing perform refunds for customers who have declined a product or service, automatically recharge customers for recurring services and in cases of a dispute arising, retrieval of previous transaction records.

These terminals are ideal most of all because they are secure, that is , people have to believe that their financial information is kept safe and encrypted. E commerce is continually expanding which means that more and more people will utilize Virtual Terminal Payment transactions.

For ...
... a merchant to truly benefit from virtual terminals for credit card processing, they must be willing to accept all the major credit card, electronic bank transfers and checks. They are then able to sell more products and services while expanding their network clientele than if they limited their services.

The service charges an affordable monthly fee as well as round the clock customer care just in case the platforms stop working or there are trouble shooting issues.

The benefits of using a Virtual Terminal Payment are obvious. For one, they can enable fraud control as there is a paper trail that leads to a source. If an imposter makes up a fake credit card number, the transaction is automatically rejected.
This service also saves a company of expenses associated with collections. The need to make calls and send out statements for outstanding balances is eliminated since customers can opt for automatic payments to be applied against what they owe.

These services are ideal for customers who have many bills and are not able to keep a tab of what they owe and to whom. If their information is stored by the merchant, then they never have to remember to make payments which mean they save a lot of money that would have gone to late fees.Those who choose to have recurring payments on virtual terminal credit cards can always get alerts when the transaction is about to post so they can ensure that there are funds available to clear the transaction.