subject: The Basics of Virtual Terminal Credit Card Processing [print this page] The Basics of Virtual Terminal Credit Card Processing
Done in an online environment, virtual terminal credit card processing allows a business owner to accept payment for transactions using front-end software that is supplied by the credit card processing company. However, it might not work in all cases, depending on the terms and conditions imposed by the service provider. For example, if the business will be participating in trade expositions, fairs, seminars or similar events where there is a possibility of making a sale, unless the processing company allows the business to operate outside of its usual IP address, there will be no way to collect credit card payments.
The virtual terminal credit card processing companies, through their own virtual system, can have many security features put in place to protect you and your customers. Once your customer purchases anything in your online store, it will not matter where they are located if you have a virtual terminal credit card processing system in place.
However, layers of security checks will still have to be passed like counter-checking your merchant login information and IP address, so when it is the merchant himself who enters the credit card number, like when taking a phoned-in order, the processing company will not process the transaction if, for example, the IP address is different.
Many business owners are not aware of these security layers, and they go about carrying their laptops thinking they can accept credit card payments outside their usual places of business using a different IP address. This misconception has caused many business owners a great deal of lost sales. What they should have done is make sure they have a virtual terminal credit card processing with a mobile device that is designed for these types of sales opportunities.
Whether you acquired your virtual terminal credit card processing service through lease or outright purchase, you should make sure to have twenty-four hours technical support available to you. Your device should also be previously configured for your use even before it is shipped to you.
A good processing service provider that sells or leases these devices should also offer payment processing services as well.
