If you’re a business that has a high volume of card present transactions, accepting card payments is usually pretty straight forward.

But what if your business doesn’t have have a high enough frequency of in-person transactions to make a physical device worthwhile? A virtual terminal could be the ideal solution.

What is a virtual terminal?

The virtual terminal (or VT) is an easy way of processing card payments online using a secure webpage. Just like the mobile and integrated devices, the terminal accepts all card types and can process card transactions in real-time whilst offering many of the same benefits such as email receipts and access to the MyWeb online portal.

A virtual terminal is well suited to a range of businesses, from professional freelancers and tradespeople, to professional service providers such as lawyers and accountants.

What are the benefits?

No additional hardware or software

Set-up is simple and all you’ll need to process a payment happen is a laptop, tablet or smartphone. With no monthly rental fees, the VT is a convenient and cost-effective choice for businesses with a lower transaction volume.

Real time approved or declined responses

With bank transfers, receiving funds from customers can often take a day or two. With a VT you’ll get a real time approved or declined response for your customer’s credit card, giving you peace of mind that payment is complete.

Payments on the go

Whether you’re an IT consultant or builder, there are many business owners who travel between jobs. A virtual terminal helps you accept payment in any location where there is a mobile or WiFi connection.

You can process a payment without the card being present

These days many businesses are engaging with their clients remotely as well servicing customers from all over the country. With a virtual terminal your business can easily accept card not present (CNP) transactions, allowing for remote transactions via email or phone.

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Aaron Camilleri

Aaron Camilleri is the Product and Operations Manager for Live eftpos.