emilyPay Virtual Terminal
A virtual terminal is a relatively new way to accept payments for your professional business that has a lot of advantages over and similarities to point of sale terminals. With a few clicks on your keyboard, you are taking payments quickly and securely.
The only hardware you need is a laptop, ipad, tablet or desktop computer and an internet connection. There is an optional USB computer swiper so you don’t need to manually enter card numbers when customers are with you if you still want to be able to accept cards in person as well.
emilyPay Virtual Terminal
A virtual terminal is a relatively new way to accept payments for your professional business that has a lot of advantages over and similarities to point of sale terminals. With a few clicks on your keyboard, you are taking payments quickly and securely.
The only hardware you need is a laptop, ipad, tablet or desktop computer and an internet connection. There is an optional USB computer swiper so you don’t need to manually enter card numbers when customers are with you if you still want to be able to accept cards in person as well.
Advantages of the virtual terminal
- Create Invoices and email to customers for online payment
- Create Recurring Payments for situations where you wish to charge on a regular basis without having to enter card information again
- Create pay buttons for your website
- Customize your payment page and invoices with your branding
- 24/7 365 Support for all your questions
- Training included after setup
Unlocking the Power of Virtual Terminals for Streamlined Payment Processing
In the rapidly evolving world of digital commerce, the ability to adapt and offer seamless payment solutions is crucial for businesses aiming to stay competitive and meet the growing expectations of tech-savvy consumers. Virtual terminals have emerged as a vital tool in this landscape, providing businesses with a flexible, secure, and efficient way to handle payments. This blog explores the importance of virtual terminals in payment processing and delves into their benefits, such as the capability to send online invoices, create recurring payments, and customize invoices and payment pages with business branding.
What is a Virtual Terminal?
A virtual terminal is a software application that allows merchants to process card-not-present transactions without the need for physical hardware. This solution is particularly beneficial for businesses that take orders via phone, mail, or online. The terminal operates over the internet, enabling merchants to enter credit or debit card information directly into a web-based form, making it a versatile option for remote billing.
Advantages of Virtual Terminals
1. Enhanced Customer Experience
Virtual terminals provide a seamless, efficient checkout process that can significantly enhance the customer experience. They allow businesses to quickly and securely process payments, reducing wait times and eliminating the need for physical interaction. This is particularly advantageous in today’s environment where convenience and speed are highly valued by customers.
2. Capability to Send Invoices for Online Payment
One of the standout features of virtual terminals is the ability to generate and send electronic invoices. Customers can receive an invoice in their email, review the charges, and pay online at their convenience. This method not only speeds up the payment process but also provides a professional and streamlined experience for the customer. It’s particularly useful for service-based businesses where billing can be tied to project milestones or consulting hours.
3. Recurring Payments Setup
For businesses that operate on a subscription model or require regular payments, virtual terminals are invaluable. They allow for the setup of recurring billing, ensuring that payments are collected consistently without requiring manual input each cycle. This not only improves cash flow but also reduces the administrative burden associated with tracking payments and following up on delinquencies.
4. Customization with Business Branding
Customization capabilities are another significant advantage of virtual terminals. Businesses can design their invoices and payment pages to align with their brand identity, creating a cohesive and professional look. This branding extends to the payment process, reinforcing brand recognition and trust. A branded payment process can significantly enhance the customer’s perception of the business, making it appear more credible and trustworthy.
5. Improved Cash Flow Management
By enabling instant payment processing and reducing the time spent on manual billing and reconciliation, virtual terminals help improve cash flow management. Businesses can access their funds quicker, and the streamlined process also provides better visibility into incoming payments, aiding in more effective financial planning.
6. Increased Security
Virtual terminals adhere to stringent security standards, including PCI compliance, to protect sensitive payment information. This level of security is crucial in building trust with your customers, as it ensures that their financial data is handled securely and responsibly.
Implementing a Virtual Terminal
Choosing the right virtual terminal requires considering several factors, including transaction fees, security features, integration capabilities, and the level of customer support provided by the vendor. It’s also important to ensure that the terminal is compatible with other business systems such as CRM and accounting software to fully leverage its capabilities.
For businesses that have not yet adopted this technology, the transition can be made smoother through proper training and support. As virtual terminals are designed to be user-friendly, the learning curve is typically not steep, and the benefits become quickly apparent, especially in terms of saved time and reduced errors.
Conclusion
Virtual terminals represent a powerful tool for businesses looking to enhance their payment processing capabilities. Whether it’s through the ease of sending online invoices, the efficiency of setting up recurring payments, or the professionalism of branded payment interfaces, these systems provide a range of benefits that can significantly impact a business’s bottom line. By adopting virtual terminals, businesses are not just keeping up with current trends; they are positioning themselves at the forefront of the digital payment revolution, ready to meet the challenges of the modern market.
