Convenience at Your Fingertips with Premium Virtual Credit Card Terminals

In this age of cashless payments, finding an apt-secure online payment option is the need of the hour. Businesses, whether small, established, or those just starting, all require swift payment services to cultivate better customer interaction and satisfaction. Catering a delivery service, furniture supplying or even offering freelancing services require the need to accept and make online payments, without having to deal with the hassles of carrying a portable card machine or some handy cash.

A virtual credit card terminal is a convenient online platform or portal that allows processing your payments swiftly from a single source. All you will need is a secure internet connection and the respective customer card details.

We may not have paid much attention to it, but in all probability, we have carried out transactions over a virtual terminal for some personal purpose. From renewing policies to shopping online, such transactions require the use of virtual credit card terminals. 

Benefits of Using a Virtual Terminal

The basic setup and user interface of virtual terminals is simple, which implies one does not have to have special skills or training to figure it out. 

Virtual payments are best suited for situations where the customer is not physically present or when processing MOTO transactions, mail orders/telephone orders.

Virtual payments offer flexibility in sales. You do not have to invest in Point of Sale software and the credit card processing equipment. Transactions can take place in any given location with the only requirement being an internet connection.

On the safer side, you will not be required to save personal credit details of customers when using the virtual terminals, a trait that works following GDPR and PCI compliance.

Choosing the Best Virtual Credit Card Terminals

Corporating a modern approach in every payment processing, merchant services broker solutions streamline your payments in a cost-effective, secure, and efficient manner, with complete transparency in all dealings and transactions. Furnishing one of the best virtual credit card terminals in the market, their services include key features like worldwide charging, international payment processing mode, ease of use, secure orders and batch highrisk credit card processors that enables you to carry out your payments in an ordered fashion, reducing the chances of chargebacks, thereby saving time and money.

Choosing the most suitable of virtual credit card terminals for your business needs, explicitly depend on the type of your business and the sales requirements. There are a few key factors that you must compare when browsing through your options for a virtual terminal.

For your convenience, we have compared two of the many virtual terminals available in the market based on their features, fee structure, usability, and customer feedback. This will give you a basic idea of what to expect from a virtual terminal provider and whether they satisfy your specific business requirements.

#1. SQUARE

Fee structure:

Square charges a basic rate of 2.5% on every range of payments processed by the terminal. For example, for a single payment in the range of £1,000, you will have to pay £25.

Features:

Square does not charge any additional fee with the basic 2.5% processing rate. There are no monthly fees or the requirement for an annual or monthly basis contract. 

Usability:

You can gain access to the terminal through a web browser, the interface is user-friendly and simple to figure out.

Customer feedback:

Ideal for small and newly created ventures, Square has a faster sign-in process that is commitment-free with simple transaction rates and no monthly fee.

#2. PayPal

Fee Structure:

PayPal offers two fee structures. One is the blended structure of charging 3.4% on every transaction with an additional fixed fee of 20p. The other is the Interchange + fee structure charging anywhere between 0.2-2% + 2.9% and a fixed fee of 20p.

Features:

You can expect faster transactions and invoices owing to its worldwide presence and impressive infrastructure. Security is guaranteed with the reliable Fraud Protection feature and is backed by an instructive customer support service.

Usability:

The interface is user-friendly and can be integrated with other highly-rated services of PayPal.

Customer feedback:

Ideal for large and high-earning establishments, PayPal has numerous services that are commonly used by millions worldwide, besides providing the best cybersecurity money can buy.

Final Verdict

Different providers are customized accordingly to meet specific criteria for virtual payment processing. Ensure you do in-depth research based on your preferences before choosing the required virtual credit card terminal.