The Virtual Terminal and the Payment Gateway

www.freedigitalphotos.net

A virtual terminal is summed up as the web version of a physical credit card terminal or Point-of-Sale machine.  It is a web-based application that allows merchants to accept credit card payments using internet-connected computers.  With the world becoming an online marketplace, the virtual terminal is becoming less of a luxury and more of a necessity. 

Virtual terminals offer many advantages over physical terminals.  The greatest advantage is the ability to access it from any computer at any time.  Most virtual terminals also have tracking, reporting and employee sales monitoring included with many other dynamic features that cannot be found in a physical terminal.  Another advantage is that most virtual terminals can be set up to use reoccurring bill pay which can be a huge time saver for most merchants.

A Virtual terminal allows merchants to process payments anywhere they are located over the internet and through any web browser.  When a merchant uses a virtual terminal they are physically typing in or swiping their customer's cardholder information to complete the purchase and payment transaction.

A Payment gateway is typically integrated for online purchases using a shopping cart.  Payment gateways allow the customer to enter all of their cardholder information and complete their own transactions.  When using a payment gateway solution, your customer is responsible for entering their payment information to complete their online purchase and payment transaction.

Many virtual terminals also operate as a payment gateway which allows merchant's the flexibility to sell online, take payments over the phone or in person.  Apex Payment Solutions ensures that all of our virtual terminals provide the flexibility for merchants to have an all in one solution that fits the needs of the business.  Contact us today to see how we can incorporate a virtual terminal into your every growing business model.