Virtual Terminal
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What is a Virtual Terminal ?
Quite simply, it is a terminal for taking card payments without the need for a card payment terminal. It's virtual as it is accessed via a secure web browser and a login page.
As long as you have internet connectivity and a web browser you can access your Virtual Terminal, via a computer, tablet or even mobile phone. You don't need to have a physical card payment terminal and hence the costs associated with such a hardware device.
A Virtual Terminal is not to be confused with a Payment Gateway which is typically connected to your website and used for eCommerce, or online purchases.
Is there a cost benefit to a Virtual Terminal ?
You may not be paying for the monthly rental of a physical card payment terminal, but there are still some costs associated with using a Virtual Terminal. As with all costs these will differ from provider to provider, but they will all consist of the following:-
Acquiring fees, these are the fees that your broker or your payments company have given to you to take a transaction.
Virtual Terminal rental - most providers will charge you a monthly fee, typically £10-35 to use a Virtual Terminal
Pence Per Transaction - each transaction will cost you an additional Pence Per Transaction, some providers may do this on an individual basis or offer a bundle price for a set number of transactions.
Who uses a Virtual Terminal ?
Takeaway and Restaurants
Call Centres
Companies with Field Sales Reps
Debt Collectors
Sales
Businesses that take sporadic payments
Advantages of a Virtual Terminal
Take a lot of phone payments
Take payments on the move
Send Pay By Links
Call Centre where everyone needs to be able to take payments
Utilise secure Pay By Link
Merchants can keep a live track on Payment Requests
Disadvantages of a Virtual Terminal
All transactions are Mail Or Telephone Order (MOTO) not a physical card
All transactions are NOT secure and hence carry an additional fee
Connectivity issues, totally reliant upon internet connection
Subject to fraudulent transactions as card details are given without a PIN
Contact Us
Mobile: 07983 702 933 Email: info@saligent.co.uk
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