VIRTUAL TERMINAL

Today’s world is entirely plugged-in, with everything connected to everything else. Even then, you sometimes require an offline portal to make payments. Virtual terminal is one such feature, a simple and cost efficient method of taking in payments through the telephone, via fax or via post. Being an online form of the swiping machine, the virtual terminal helps businesses in entering details of customer’s real time and also gets back confirmation immediately.

The virtual terminal lets a merchant process data in transactions from one computer to any other computer across the world through the internet. All that has to be done is log in to a website that is secure enough, using a login id and a password. Once you enter, changing card numbers, process credits, authorize cards, etc is just a click away. Plus you can have complete access to online reporting of the entire transactions or orders.

The virtual terminal system is a complete application program which helps the host terminal to have an interface with a network that is multi-user and connected to other hosts as well despite differences in the type of terminal and their features. At times, the virtual network also acts like a back-up for your data, as you have the facility of storing information on the portals.

Benefits of using a virtual terminal:-

• Customers can have an advantage of making payments offline
• The cost of implementing the system is minimal as there is no need for any additional hardware or equipment, and training is not needed for employees to be able to use the system.
• Payment methods range is optimized to a very wide variety
• Business can be protected from risks by using protection services
• The entire settlement and payments process can be timed as to when the order will be despatched.
• Confirming the transaction to the customer is real time and easy.
• Shipping can become extremely fast as the virtual terminal will make a customised packing slip
• Results of transactions can be seen then and there, with many of the payment channels like PayPal being linked to it.

Using a virtual terminal, you can enhance your business levels, improving sales by expansion of the business network beyond the boundaries of the internet. Information can be entered manually into the transactions for a mail order or a phone order. The virtual terminal also allows the business to: - refund the customer’s money directly to their credit cards; recurring charges can be automatically billed; transaction status can be checked on the spot; previous authorizations can be tracked.

The virtual terminal is also very easy to access and use, involving simple steps in the process. For example, in a customer merchant payment scenario, there would be just 3 steps involved – the customer making the order via phone or fax or post using a debit card or a credit card; the employee entering the order details into the virtual terminal; the payment channel authorizes and processes the order, and the merchant gets his payment immediately.

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