Business InformationPayment Processing

Virtual Terminal

By July 31, 2018 April 24th, 2020 No Comments

Why every Business should have a Virtual Terminal

Virtual Terminals are the latest way to accept payments for both small and large businesses. A virtual terminal is a website accessed online and card information is inputted and processed. A virtual terminal is different than a regular stand-alone terminal because it is an online virtual terminal. It is a great option for any type of business to add to their ways of payment acceptance. Now, when a customer gives their card information over the phone, payment is generated instantly.

The information needed to process a transaction: card number, name and address associated with the cardholder data. In seconds the transaction approved and generates an approval code. We recommend saving the approval code for organized record keeping. The virtual terminal sends an email to the customer, providing them their own record. You have the opportunity to print a receipt that looks exactly like a receipt you would receive from a store. This keeps the customer up to date on their payment and your business organized.

MAX’s virtual terminal has the capability to securely store cardholder data. This option is well liked by our merchants who have customers they regularly invoice. It ensures office efficiency in the safest way. Having a virtual terminal provides a way to accept payments in a form that is widely used.

A virtual terminal in combination with MAX Payment Solutions’ ultra-low pricing set-up is a method of payment acceptance every business should implement.