Nowadays, Virtual POS Terminal is a must-have solution for any retailers, who are looking to sell items or services online, whether through their own website or another digital platform. Let’s find out why this tool is becoming more favored than traditional sales methods.
Virtual POS terminal Introduction
What is it?
A virtual POS terminal is a web-based program that allows you to handle electronic payments via phone, mail order, fax, email, or in person, similar to an online checkout form. You can turn any existing desktop, laptop, smartphone, or tablet into a POS system without having to buy or install any additional hardware or software. You can attach a card reader to a PC through USB input for in-person payments, although it isn’t required. Virtual terminal credit card processing is available to you if you have a merchant account with a payment gateway, Internet connection, and a web browser.
How important is a virtual POS terminal?
When compared to typical offline payment methods, the virtual POS terminal has a few features that make it more flexible.
No faults and no maintenance
The typical physical POS terminal is a gadget that can develop flaws, even if it is just dropped. And in many circumstances, a technician or even a terminal replacement is required. Because there is no physical hardware, the virtual POS terminal cannot fail. Its maintenance is handled centrally, eliminating the need to wait for actual repair at the store. In addition, a virtual POS terminal is constantly updated, supplemented with new functions and improved to respond promptly to all payment requirements.
Various payment methods
Today, selling on digital platforms means providing your customers with a plethora of payment alternatives. While some digital alternatives to cards are available at physical terminals, such as Alipay and WeChat Pay, the number of options available online is rapidly growing.
Hundreds of alternative payment methods are extensively used in Italy and around the world. They are increasingly chosen over more traditional means. Either because they have become mainstream in a given region or because they are better suited to certain needs.
Management of remote payments
One of the benefits of a virtual POS terminal is that it can be accessed at any time, from any location, and from any device. Nowadays, shopping experiences are gradually losing the distinguishing characteristics of traditional establishments. The consumer expects to be able to switch between physical and digital contact points. The virtual POS terminal has the huge benefit of not requiring the customer’s actual presence in the establishment. Customers are increasingly looking for buying experiences that combine the benefits of the real and online worlds, especially in the current climate.
Using the virtual POS terminal is extremely effective, but it is not a must-have solution since many POS also have support for this feature. ConnectPOS has a methodical feature backing up for this terminal, so users can contact their supporting team for more details.
Top 3 notable virtual POS terminals
Payline Data works with a wide range of companies. However, it specializes in the medical field, offering HIPAA-compliant tools, ACH transfers, and customized pricing. Nonprofit and educational services are also given special consideration. Payline, like Payment Depot, provides strong fraud and chargeback protection.
Even when considering a monthly cost, a payment processor with interchange-plus pricing can save you hundreds to thousands of dollars if you perform high-volume purchases. Payment Depot, which also offers virtual terminals, is our top option for the lowest credit card processing firms.
With the virtual terminal, QuickBooks Payments will obviously stream immediately into your QuickBooks accounts if you utilize QuickBooks. For businesses that only want a simple virtual terminal to accept payments over the phone, this may be a no-brainer. Indeed, the low cost of invoicing makes it an excellent alternative for B2B and other invoice-type sales.
In a nutshell
The virtual POS terminals that are secure and do not require any specific equipment are available from practically every payment processor. If you want to know more about this aspect, call us immediately to receive the best advice.