In the US, many small business owners still use paper checks for payment—about 50%. TeleCheck offers secure processing for these businesses. Some business owners may wish to provide more payment options for their customers but are hesitant to invest in costly hardware or systems.
There’s a new option available: virtual terminals. Virtual terminals are a convenient and affordable way to accept payments by credit card without needing a machine. This is how the technology works and why you should consider switching.
What is a Virtual Terminal?
Many businesses use physical point-of-sale (POS) systems. These cash registers can be used to ring up customers or take orders over the telephone. Some companies need the budget to purchase hardware that accepts electronic payments.
Virtual terminals are a great solution. A virtual Terminal allows you to make payments from any device with an internet connection. Virtual terminals are hosted in the cloud. This will enable merchants to accept credit cards without having to purchase machines. Clover Virtual Terminal is accessible by logging in to your Clover Web Dashboard on a computer, smartphone, or tablet.
A virtual terminal is also capable of accepting in-person payments. You can add a card reader to your virtual Terminal via USB, but it’s unnecessary. A virtual terminal can provide your business with a lot of flexibility.
The benefits of using a Virtual Terminal
Virtual terminals can make accepting payments more convenient. They are secure, timely, and easy to use.
Virtual terminals allow you to accept payments via credit or debit cards on your computer, tablet, or smartphone. Customers expect fast, flexible, and easy payment methods. This includes credit cards, mobile wallets like Apple Pay, or tap-and-go contactless payments. Clover Virtual Terminal allows business owners to request customer payments via email and accept credit card or debit card payments online.
Virtual Terminal is also a great tool to streamline your accounting and payments. All incoming payments, whether in-store orders or orders placed by mail, telephone, or email, can be handled through one platform. Securely store the card details of your regular customers to speed up transactions. Sending receipts by email is the easiest way to complete this process.
Virtual Terminal keeps your payment environment compliant with PCI and secure using end-to-end encrypted. Clover protects against fraud using address verification service (AVS) and card verification values. You can benefit from strict security protocols to protect your customers’ payment information against fraud and abuse. Virtual terminals are a great backup option if you have a hardware failure.
Clover Virtual Terminal: How to get started
There are many options for virtual terminals, but it is not a decision to be made lightly. Clover offers several benefits that make it stand out.
Clover’s Virtual Terminal is capable of more than accepting payments. Merchants also gain access to the Clover system’s customer database, reporting, order management, and other features. As part of Fiserv, Clover offers the latest fraud management and security tools to protect customer and business information.
Clover Virtual Terminal offers other unique features that make transactions more convenient. We’ve integrated tools like recurring payment, invoice manager, card-on-file, and invoices by email. Clover Virtual Terminal is an all-in-one business management and payments solution that can grow with your business.
How to set up a virtual terminal
Any merchant can set up a virtual terminal, from restaurants to retailers and services companies that accept payments via phone or mail. Virtual Terminal is preloaded in your Clover dashboard for existing Clover merchants. Log into your Clover Web Dashboard and click Virtual Terminal to request or accept payments.