Virtual Credit Card Terminals
Jan 12, 2017
Virtual credit card terminals are ideal options for many businesses, as they offer numerous benefits most merchants find highly useful. If considering setting up a virtual credit card terminal but are
Virtual credit card terminals are ideal options for many businesses, as they offer numerous benefits most merchants find highly useful. If considering setting up a virtual credit card terminal but aren’t certain it’s the right option for you, check out a few of the many benefits such terminals provide:
Accessible From Any Location
Virtual credit card terminals are accessible at any location with an internet connection, whether via a modem or WiFi. This is ideal for a business person who travels frequently, as all they need is a laptop to accept credit and debit card payments. It is also an ideal solution for those who frequently make appearances at assorted events, such as trade shows, conventions, festivals, craft fairs, concerts and more. Those who run home-based businesses benefit from virtual credit card terminals as well. Of course, web store and other online business owners are also perfect candidates for these terminals.
Utilizing virtual credit card terminals is a way to save time in terms of processing. Swiping a credit or debit card through a traditional terminal isn’t always guaranteed to work, as the magnetic strips featured on cards wear out eventually. Cards also break, causing the consumer attempting to pay and others in line behind him or her to lose time. This is frustrating for everyone involved! There’s no card swiping with virtual terminals, rather the necessary information is simply entered into a web form for quick and easy processing. If using a high-speed internet connection, processing takes as little as one to two seconds. Compare this to traditional terminals, which take anywhere from 30 to 50 seconds to processing, assuming the card swipe is successful.
In addition to saving time, working with virtual credit card terminals also saves money! Traditional credit card terminals cost hundreds of dollars, which adds up quickly if more than one terminal is required. Virtual terminals, in comparison, are completely scalable, making it a highly cost-effective option. Additionally, setup fees are usually low if non-existent.
Another of the many benefits of using virtual credit card terminals is their adjustability. Unlike their tangible counterparts, virtual terminal settings are easy to edit and optimize. For example, multiple logins are available for multiple employees, and address verification settings can be adjusted even while a transaction is in progress.
These are just some of the benefits of using virtual credit card terminals! If you feel this option is suited to your needs, take the necessary steps to learn more today.