Virtual Merchant Processing Solution For Every Business Needs
For every business owner, a seamless payment processing solution is a must requirement. There are multiple types of products and services available to ease payment processing procedures. But as a business owner, you know the actual requirements of your business and processing volume. A business merchant who has just started a new business or have an adequate processing volume can go with a virtual merchant processing solution. This virtual processing terminal lets you process credit card payments, Echeck/ ACH payments and MOTO payments from customers. In this digital era, every business needs to have a virtual terminal to process all on-going payments from business customers.
Quadrapay is a one-stop solution for all your payment processing solution related needs. From a low-risk business to a high-risk business, we have a processing solution for any business needs.
What Makes A Virtual Merchant Processing Better?
The factor that makes a virtual merchant processing solution (virtual terminal) a better option compared to the traditional payment processing terminal is the overall cost factor. In terms of the physical terminal, a business requires to buy the set of pieces of equipment required to set up the station/terminal for payments. This can be a big hassle for a startup or a small business owner because the investments might not that much worth as per the number of physical transactions a day. In such cases, a business owner can enjoy most of the features of a physical terminal with the help of a virtual terminal. This virtual merchant processing solution works the same, where software is integrated with all the facilities to process various methods of payments.
Multiple people try to compare a virtual terminal with a payment gateway and get confused in between the statements. Here we have concluded all the major differences to make things easy to understand.
| Payment Gateway | Virtual Terminal |
| Customer enters the details of credit card over the internet by their own. | A Business merchant manually enters the payment details provided by the customer. |
| It is a customer Interface | It is a merchant Interface |
| It is a Independent merchant service which is connected to the payment processor. | It is a merchant service feature which comes under the payment gateway |
| It is provided by the Merchant service provider | It is provided by the Merchant service provider |
| It is mostly used by business merchant operating under High risk industries | It is preferred and mostly used by Low risk industries. |
What Are The Features Of A High-Risk Virtual Merchant Processing Terminal?
There are multiple types of advantages with a virtual merchant processing terminal. Some of them are as follows:
- Ease To Retrieve MOTO Payments: With the help of MOTO service, you can accept business payments from your customer over a phone call, mail or even a fax.
- ACH/Echeck Processing: A VT allows you to process ACH and E-check payments easily. Accepting diversified payment methods also helps to boost your business performance.
- PCI Compliant Payment Gateway: It helps in a secured payment processing. The virtual terminal is based on PCI compliance and follows standards of PCI-DSS.
- Multiple Merchant Accounts: A virtual merchant terminal can be easily shared among other employees working in your business store among various accounts. This means a virtual terminal account can be used by multiple employees to accept payments seamlessly. This feature helps to boost payment handling as more number of transactions are undertaken by multiple employees.
- Recurring Billing: A business merchant can also offer a feature of recurring billing to the customers. In this, a date is decided by signing by both the parties for a fixed period of tenure and funds gets debited from customer and credited to the business account.
- Generate Email Receipt and Annual Reports: After processing every transaction, a digital invoice will be generated, which can be easily shared to the customer on the registered email address or SMS. This feature also facilitates a business owner to analyze the sales report and record of each and every transaction, either daily, monthly or weekly.
- Fast And Reliable Transaction Processing: The payment gets debited from the customers’ bank account and credited into the business merchant account. The whole process is fast and secure.
- Simple And Easy To Use Interface: The best part of a virtual merchant terminal is that it is seamless, fast and easy to understand and use.
- Easy To Access From Anywhere: As there is no physical terminal, a virtual terminal can easily operate from anywhere. All it needs a browser or application installed in the mobile device or a desktop and proper internet connectivity.
- 24×7 Customer Support
For more information on Virtual Merchant Processing, you can mail us at [email protected].
Suggested Reading
https://quadrapay.com/recurring-billing-service
https://thesai.org/Downloads/Volume8No5/Paper_32-A_Compendious_Study_of_Online_Payment_Systems.pdf
