Apply Today For MOTO Virtual Terminal With QuadraPay
A virtual terminal is a web-based payment processing application that accepts credit card payments over the phone or in person. The merchant manually keys in the card details to process the transaction. This type of transaction is considered a Card Not Present Transaction. It only requires a web browser and an internet connection to work. It does not require any specific hardware device to process the payments. The Virtual Terminal Solution, also known as MOTO, is suitable for sales and customer support order businesses who generally take their order over the telephone or mail.
Virtual Terminal Moto Payments FAQ
How Virtual Terminal Works?
A virtual terminal is a merchant tool; the transaction is initiated by the merchant on the computer and completed in a few steps. A merchant must take the customer’s information over the phone to accept payments and enter the data into the virtual terminal.
- Steps involved in submitting a transaction over a virtual terminal.
- The merchant login to his virtual terminal application.
- Asks the customer for their card and customer information to maintain the customer’s profile.
- Enter the customer’s and card details into the secure payment page and save customer info using the virtual terminal for further transactions.
- The payment gets processed, and an email goes to the customer’s email box.
Advantages Of Using Virtual Terminal
There are various advantages of using a virtual Terminal. One business may use it for recurring payments, and others may use it for the remote transaction. Let’s discuss which one will best satisfy you.
No Extra Hardware Required: To process credit/debit card transactions, you only need your desktop/laptop with a browser installed and an active internet connection. You can process the payment anywhere if you have a browser and internet.
Process Recurring Payments: Yes, you heard it right. A virtual terminal can do recurring billing transactions. You can easily set up recurring billing in your terminal, which will continue to go to the customer’s credit card until the regular bill ends.
Multiple Desktop Access: A single virtual terminal account can have multiple users. The feature is beneficial when there is huge traffic of customers and a single employee can’t manage all the transactions. You can easily add or remove users with administrator access. The administrator can limit employees’ access so they can’t see all the transactions. You can restrict different options based on the requirement.
Telephone/Mail/Fax Order: A merchant can accept payments in multiple ways, like over the telephone, mail, or fax. It is beneficial for a business that deals with their customer remotely.
Detailed Report Analytics: Through the virtual terminal, you can review the transaction report done over the day, week, or month. The reported trend helps the merchant track the increase or decrease in sales.
Electronic Invoicing Capabilities: The virtual terminal can generate the invoice automatically and send it to the customer’s mail.
What Are The Differences Between Virtual Terminals Vs Payment Gateways?
|Payment Gateway||Virtual Terminal|
|In Payment Gateway, the customer enters the credit card over the internet by self.||In Virtual Terminal, merchants enter the customer’s card details.|
|It is a customer Interface||It is a merchant Interface|
|It is a Independent merchant service||It is an additional merchant service comes under the payment gateway|
|It is provided by the Merchant service provider||It is provided by the Merchant service provider|
|It is suited for usually High risk industries||It is suited for Low risk industries.|