A virtual terminal, also called a VTT, is a web-based payment processing software that allows you to accept debit and credit card transactions from anywhere in the world without having to have a physical terminal at your workplace or office. A virtual terminal makes it possible for you to manually enter all of the necessary card details and then submit the transaction to the payment gateway for approval. This can be done from the comfort of your home or any computer.
Virtual terminals are available in a variety of different sizes and form factors. They can be used at home or in the office or even in a kiosk. Depending on what type of business you operate and where your business takes place will determine the size of the virtual terminal that you need. The majority of virtual terminals are designed for the desktop computer or laptop but a small number are designed to work in kiosks and even in an ATM machine.
A virtual terminal can be set up in a couple of different ways. One option is to set up a dedicated server that runs your own operating system. This method is more complicated than running a dedicated operating system on the machine itself. It may take more time to install the operating system because it will have to use the entire hard drive to store the entire set up. If you have a large network, this may not be the best option for your business.
Another option is to purchase a virtual terminal that is already setup and ready to go. Some vendors offer a free trial and installation of the software package, and after that there is no charge at all. The only thing you would need to do is configure the machine. Most of the time, once you’ve set everything up and activated it, the cost to set it up again is very low.
If you decide to go with a paid version of this service, you will pay per transaction but the web-based application is usually set up for unlimited transactions at one time. The only cost you incur is the charge for the purchase of the software and the installation fee. You pay when you make the transaction and this is usually less than ten dollars or less per transaction. The most basic features you will see included are the ability to accept online credit cards, e-checks, checks, PayPal, Money Gram, Wire Transfer, PayPal, e-checks, and some merchant accounts that have a check number, like PayPal, VISA, MasterCard, Discover Card, and Visa etc.
One of the most important things that you need to know about a virtual terminal is the security features. There is typically no offline security provided by the vendor for this purpose. You must ensure that the VTT you choose is certified by a third-party security company or the provider will not provide you with an offline security feature.
It should have physical safety measures like firewalls, password protection, and other features that will prevent someone from gaining access to the machine without your knowledge. It should also have all the safety features and options of a traditional terminal, such as being able to lock and unlock the cabinet, change the card, and provide security options.
While virtual terminals can be a great way to process credit cards transactions at your home or office, it is best for your business to buy one that is equipped with all the necessary features. You want the right features for both convenience and security. To find a virtual terminal that offers everything that you need, contact several vendors and compare prices.