VIRTUAL TERMINALS FROM INFINITY DATA
Virtual terminal merchant solutions are web-based payment processing systems that allow businesses to accept credit card payments without the need for physical card readers or point-of-sale (POS) terminals. These solutions provide a secure online interface for merchants to manually enter and process customer payment information.
Key Features
Web-Based Interface
Virtual terminals are accessed through a web browser, requiring only an internet connection and a device like a computer, tablet, or smartphone. This eliminates the need for specialized hardware, making it a flexible and cost-effective solution for many businesses.
Manual Entry
Merchants can manually input customer payment details, including credit card numbers, expiration dates, and security codes (CVV). This is particularly useful for businesses that process card-not-present transactions, such as phone or mail orders.
Multiple Payment Types
Most virtual terminals support various payment methods, including credit cards, debit cards, and ACH/eCheck payments. This versatility allows businesses to cater to different customer preferences.
Security Features From Infinity Data
Our virtual terminals incorporate advanced security measures to protect sensitive payment information:
- Encryption: Data is encrypted during transmission to prevent unauthorized access
- Tokenization: Sensitive card data is replaced with unique identifiers, enhancing security
- Address Verification Service (AVS): This helps confirm customer identity and reduce fraud risks
Additional Functionality
Many virtual terminals offer features beyond basic payment processing:
- Recurring billing: Set up automatic payments for subscriptions or installment plans
- Customer management: Store and manage customer information for future transactions
- Reporting and analytics: Access transaction history and generate sales reports
Benefits for Businesses
Flexibility
Virtual terminals allow businesses to accept payments from anywhere with an internet connection, making them ideal for remote work, mobile businesses, or as a backup to traditional POS systems.
Cost-Effective
By eliminating the need for physical card readers or terminals, virtual terminals can reduce hardware costs and maintenance expenses.
Convenience
These solutions simplify payment processing for various business types, including e-commerce, service-based businesses, and organizations that handle phone or mail orders.
Improved Cash Flow
Many virtual terminals offer fast fund transfers, typically within 24 hours, helping businesses maintain healthy cash flow.
Suitable Business Types
Virtual terminal merchant solutions are particularly beneficial for:
- Online retailers and e-commerce businesses
- Service-based businesses (e.g., consultants, freelancers)
- Mail order/telephone order (MOTO) businesses
- Event organizers and ticketing services
- Nonprofits and charities accepting donations
Considerations
While virtual terminals offer numerous advantages, businesses should be aware of potential drawbacks:
- Processing fees may be higher for manually entered transactions due to increased fraud risk
- Responsibility for securely handling and storing customer payment information
- Potential for human error when manually entering payment details.
By understanding these features and considerations, businesses can determine if a virtual terminal merchant solution from Infinity Data aligns with their payment processing needs and operational requirements.
