20 Aug 5 Reasons to Accept Payments through a Virtual Terminal
Have you been wondering if a virtual terminal is the right point-of-sale solution for your business? Here are a few things to consider.
A virtual terminal is basically the online version of your physical POS system. It can process credit and debit transactions from any computer, as long as you have internet access.
When using a virtual terminal, you simply enter a customer’s credit card information into a web-based payment form, very similar to what you’d experience when using a shopping cart on an e-commerce site like Amazon. You’re then directed to a screen where you can complete the transaction. After the transaction is approved, all relevant parties will be notified instantly that the transaction went through.
When you add the option of accepting payments on a virtual terminal, you’ll introduce new efficiencies to your business – better relationship management through customer transaction history, reporting, securely stored customer data, automatic monthly billing, and more.
Why would you consider integrating a virtual terminal into your business?
1. No new devices are necessary
Your computer is the hardware. Virtual terminals provide an easy pathway to process credit card transactions from remote locations – as long as you’re connected to the internet. This minimalist setup requires almost no maintenance.
Keep in mind: you can choose to purchase a card reader that plugs into a USB port. This is especially useful if you accept credit cards both over the phone, and in person.
2. You can give multiple employees access
That means your team can process transactions during peak traffic times, and from remote locations.
Additional users can be granted access to the virtual terminal by the account administrator. If you want employees to run cards, but not look at transaction history or even the details of transactions they just made, this is available as well. On the flip side, if you want to only allow certain users to see only reports and not have the ability to run credit cards, this is an option.
3. Easily process recurring transactions
Virtual terminals make it simple to charge and process transactions from customers who want to repeat an order on a regular basis.
Consider how recurring payments can benefit your business. As a business owner or employee, you just set up the initial payment schedule, and then manage any changes in payment type or amount. After that, you can sit back, relax, and watch as payments are deposited in your business bank account on your customers’ pre-determined billing dates.
4. Accept telephone and mail orders quickly and efficiently
Virtual terminals are really the only choice when it comes to an e-commerce and mail order business. Any business that receives a large number of orders by phone, fax, or mail will find tremendous value in the savings and security that comes with a virtual terminal. Further, if you also accept payments in person, adding the card reader through a USB port allows you to process all transactions in one convenient payment processing location, with one unified system for reporting.
5. Adopt a data-driven mindset
Virtual terminals can generate reports that give valuable insight into daily sales volume. You can even track trends over time that help drive adjustments to your marketing and sales strategy. For example, you can filter a transaction list by amount to identify the customers who made the largest purchases within a certain time frame.
You can also use a virtual terminal to store information like customer lists, addresses, and phone numbers. This will help you manage relationships and create great customer experience with things like targeted special offers and customer loyalty programs.
Our propriety virtual terminal ensures that every transaction contains the correct information to qualify at the best rates, including Business Level II and Level III rates.
BASYS Processing as a business partner
Does your current processor understand the unique struggles of your industry? Do they provide great rates and personal customer service? Are they offering solutions to grow your business and being proactive about helping you reduce risk and increase your savings?
BASYS Processing features:
• A friendly, live voice will answer the phone when you call; no automated phone systems
• In-house PCI Compliance team to walk you through the process step-by-step, improving security and reducing costs
• A knowledgeable Account Manager assigned to your business to support your needs
• Accept payments in person, over the phone or online
• Next-day funding options
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, plus solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personal Payment Processing.
Learn more at basyspro.com, and connect with us online at: