What is a Virtual Terminal for Processing Credit Cards?
A virtual terminal for processing credit cards is a must-have payment processing tool – for some. Find out if your business can benefit from taking payments over the phone, email or post.
We’ve discussed at length the many benefits that face-to-face payments can offer. From improving customer loyalty to ensuring payment security, letting customers pay in person is an essential part of many businesses.
But not all of them.
Indeed, lots of businesses rely on taking payments remotely, whether they take phone orders for products, a deposit from a customer while they make an appointment, or any other type of long-distance customer relationship.
And that’s where virtual payment terminals come in. A virtual terminal processes credit card payments safely and securely, just like card machines and EPOS systems. The main difference is that the credit card does not need to be physically present to be processed.
At New Payment Innovation, we understand how important it is to get the right payment solution for your business needs. That’s why we provide virtual terminal solutions alongside our expert EPOS systems, sleek card machines, and online payment services. Take all payments from anywhere with NPI.
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What is a Virtual Terminal for Processing Credit Cards?
A virtual terminal for processing credit cards is a web-based application that takes transactions remotely. Payments can be taken over the phone, through email, or by post by inputting the card information into the secure gateway on a tablet, smartphone, or computer.
A virtual card terminal eliminates the need for a physical point of sale system. This means the user must put in the payment information manually. To ensure payment security, merchants must meet the requirements for PCI compliance. Often, the merchant service provider will take care of compliance for you, so you can continue taking safe payments without worry.
Advantages of a Virtual Credit Card Terminal
There are lots of reasons why adding a virtual terminal for credit card processing can be useful for nearly any business. It provides an extra level of service that attracts a broader audience of potential customers. Here are some of the most significant benefits of virtual terminal payment processing.
Convenience
Virtual credit card payments are processed anytime, anywhere. That means you can take payments directly from customers no matter the physical distance. Additionally, a virtual terminal means you don’t have to rely on specialised hardware to process payments.
Flexibility
A virtual payment terminal for card processing is a flexible choice that gives customers more range in how they want to pay. This adaptable approach to payment processing is great for the customer, but what about you? Since the virtual terminal can be accessed from anywhere, you don’t have to be at your desktop to take payments.
Broaden Your Audience
When you offer more ways to pay, you attract a wider audience that may have different payment preferences. Allowing your customers to pay by phone or email means that customers who prefer that method will be more likely to use your services or purchase your products.
Make More Sales
In some businesses, customers or clients may call to ask questions about a product or service. With a virtual terminal, you can turn that request for information into a sale you otherwise might not have made. After sufficiently answering the questions, redirecting the customer to a brick-and-mortar location or separate website to complete a purchase may not turn into a sale. Offering to take the payment while on the phone when the decision to purchase has been made reduces the likelihood that the person will delay or decline the purchase.
Reduce No-Shows
If taking deposits or pre-payments is part of how you do business, then a virtual terminal for processing credit cards is what you need. Often, businesses like salons and dental clinics take appointments over the phone. Securing that appointment with a deposit can help prevent unnecessary loss and no-shows.
Cost-Effectiveness
Because there is no extra hardware involved in virtual terminal credit card processing, it’s a cost-effective solution for the added convenience. Service provider will generally charge a monthly service fee for providing the payment gateway and PCI compliance.
Easy to Use
Using this type of payment processor is simple and straightforward. There is no complicated software to learn or new hardware to get used to. The interface is user friendly, so you don’t have to waste time finding your way around.
What Businesses Need a Virtual Payment Terminal?
While a variety of businesses can benefit from a virtual terminal for processing credit cards, a few almost shouldn’t try to get away without it.
Healthcare Businesses
Dental clinics, doctors, counsellors, and other healthcare businesses that regularly take appointments over the phone can now protect those appointments by taking a deposit or pre-payment directly at the time of making them. Taking a deposit is an uncomplicated way to reduce the number of no-shows and losses on missed appointments.
Hotels
While many hotels provide online booking and payment services, a virtual terminal for paying over the phone can help reach customers who may have questions or don’t have access to making an online reservation.
Personal Care Businesses
Personal care businesses, like hair and beauty salons, barbershops, and spas are other businesses that often make appointments over the phone – and regularly have no-shows. Taking payment for services upfront through a virtual credit card terminal can help save time and money.
Retailers
Purchasing products (as opposed to services) isn’t as common now as it was a couple of decades ago, thanks to the internet and e-commerce. However, retailers can use a terminal for processing virtual credit card payments to secure purchases immediately. For instance, if a customer calls with a query about the specifications of a product and is satisfied with the responses, you can take payment directly from them while on the phone. And since the sale could potentially be lost once the call has ended, it’s crucial to secure it in the moment.
NPI’s Approach to Virtual Terminals for Credit Card Processing and Other Merchant Services
At NPI, we’re passionate about payments of all kinds, and we want to make them easier for customers and businesses alike. Offering expert services, like our virtual terminal solution, is how we support business growth all around Ireland.
NPI’s commitment to innovation and customer-centricity means we’re not just another payment provider – we’re the best merchant service provider in Ireland. Whether you’re a business looking for diverse payment methods, integration with your existing systems, or real-time insights, we’ve got you covered.
Here’s how we do merchant services:
Face to Face
For businesses that rely on the stability and familiarity of traditional card transactions, NPI offers seamless card reader options, including wired, wireless, and mobile. These methods ensure you can accept payments securely through trusted and established channels.
In an era where speed and convenience are paramount, NPI embraces advanced technology for face-to-face transactions. Our solutions, including contactless payments and customised, complete EPOS systems, enable quick and secure transactions. Customers can simply tap their cards or mobile devices for swift and hassle-free payments, whether they’re shopping in a store or at a vendor’s stall.
Recognising the growing importance of mobile payments, NPI empowers businesses to tap into the mobile-centric world. With our card machines for business, you can offer customers the flexibility to pay with smartphones, digital wallets, and cards, making the payment process both efficient and user-friendly.
Online
NPI understands the importance of streamlining safe online payments for businesses and ensuring a secure and convenient experience for customers.
Our integrated solutions are designed to seamlessly connect with a wide range of e-commerce platforms and payment gateways. This means that whether you’re a business looking to accept online payment or a customer making a purchase, the process is straightforward and secure.
For businesses, NPI’s integration with e-commerce platforms allows for a hassle-free setup, enabling you to accept payments on your website or digital storefront. Not to mention, our system effortlessly manages the flow of transactions, ensuring a smooth experience for your customers.
Over the Phone
Our virtual payment terminals are at the heart of over-the-phone payments. They provide a secure platform where businesses can process transactions remotely. This is especially useful for businesses that offer services or sell products over the phone, through catalogues, or via email. By using virtual terminals, you can efficiently handle card transactions from anywhere, enhancing convenience and accessibility for your customers.
Furthermore, security is paramount in over-the-phone transactions, and NPI takes this responsibility seriously. Our systems are designed to ensure the utmost security for both businesses and customers. Card data is handled with care, and our virtual payment terminals adhere to industry standards for secure payments.
You can learn how to take card payments over the phone here.
Contact NPI Today
Explore the NPI difference by getting in touch with our expert team. We’re here to provide guidance, valuable insights, and tailored solutions that align with your unique needs and goals. Reach out to us at 01 4475299. Or, fill out the contact form, and one of our payment gurus will get back to you.
Want to see our EPOS systems and card machines for yourself? Come down to our Citywest HQ and look around the Experience Suite.
What is a virtual terminal for processing credit cards? FAQs
What is a virtual terminal for credit card processing?
A virtual credit card terminal allows business owners to take payments over the phone, through email, or by post. It eliminates the need for the credit card to be physically present for processing.
Is a virtual terminal the same thing as ecommerce?
Virtual payment terminals can facilitate ecommerce, but they aren’t the same thing. Ecommerce refers to when goods and services are sold online. A virtual terminal can process credit cards regardless of where goods are sold.
I book appointments over the phone. Do I need a virtual terminal?
A virtual terminal will allow you to take deposits or prepayments over the phone directly. If you book appointments, a virtual payment terminal can help you reduce no-shows and increase revenue.
Can I access the virtual terminal from my phone?
Yes, you can access a virtual terminal from any browser on a PC, tablet, or smartphone.
Is a virtual payment terminal for processing credit cards expensive?
A virtual payment terminal is a cost-effective solution for processing payments. It doesn’t require any expensive upkeep or hardware.
