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The Benefits of Virtual Terminal for Credit Card Transactions

In your business, if you are moving towards accepting credit/debit card payments and have set up an online store, get ready to know about the benefits of virtual terminals and how they work. ​

What is Virtual Terminal? ​

A Virtual terminal allows you to process payments with or without a physical card reader. It allows your businesses to offer services to your customers in-home, online, or on the go with mobile set-ups. Virtual terminal is the payment solution for your business when you want to accept credit/debit card payments quickly without relying on a card reader. Moreover, payments can be mailed-in, keyed-in or made in-person by clients, making it very convenient and cost effective for your business.

CloudBanking provides an online virtual terminal for your business which handles recurring bills and sends receipts for customers from any device with an internet connection. Our virtual-terminal is an easy-to-use payment solution for your business whether in-store or on-the-go, for quick and efficient service. ​

How CloudBanking Virtual terminal works? ​

Virtual terminal provides your business with a secure and encrypted web page where you can process card payments online. This is how a transaction via CloudBanking virtual terminal is made: ​

  • Add the customer’s credit/debit card information via encrypted web link provided by CloudBanking and complete the transaction. Our system encrypts and creates a token for your customers’ account information providing ultimate security.​
  • The payments are then processed through the virtual terminal and funds are deposited in your bank account quickly and seamlessly. ​

With CloudBanking Virtual Terminal, you can access user-friendly dashboard with real-time snapshots of all transactions, secure data transfer and fraud protection. ​

What are the benefits of Virtual terminal? ​

Virtual terminal provides your business with the ability to accept credit/debit cards at a lower cost, with no more excessive fees or chasing down late payments, saving your business time and money. ​

Find out the key benefits of a virtual terminal for your business: ​

  • Process payments at reasonable rates​

Virtual terminal allows you to process payments simply by logging into your account and typing customers’ details or automatically via our tokenised secure encrypted system. The transaction is then processed, and funds are transferred into your bank account. This process fee is 1%, which is lower than any non-qualified rate on a card reader. This can save your business hundreds (or thousands) of dollars every month, depending on your sales volume. ​

If your business accepts and processes payments remotely, an online virtual terminal is essential, it provides a single platform for payments via mobile, web, e-commerce, and also tracks payment status in real-time. ​

  • Set up recurring payments​

CloudBanking virtual terminals include recurring payment functionality that helps your business to improve cash flow and provides a convenient service to customers. All you need to do is, set a recurring payment date and let the virtual terminal do the rest. ​

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  • Store customer information and provide data security​

CloudBanking’s online virtual terminal can securely handle and store your customers’ data and does not put your business at risk for data breaches. Managing your customers’ data is a challenging issue as you do not want to worry about losing sensitive information. We provide a secure online virtual terminal with PCI DSS (Payment Card Industry Data Security Standard) regulations, to encrypt, handle and store customer data. ​

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  • Reap access to your records anytime, anywhere​

With a virtual terminal, you can have access to your records anytime and anywhere. Whether it is a late-night or long weekend, you can easily balance your account anywhere at any time.  For any businessman, this type of access can boost your efficiency and give you peace of mind. As long as you have a device and an internet connection, you can easily access your payment details and customers’ data. ​

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  • Reduce costs and improve cash flow​

CloudBanking’s virtual terminal is cost-effective and seamless, helping you to operate your business smoothly. There is nothing more frustrating than chasing down late payments, however, our software can create an invoice for your customers from which the system can automatically send a receipt and track payment status in real-time. ​

Our virtual terminal provides a fast and easy payment solution to keep your business running smoothly. It helps you to get rid of the headache of insufficient funds, late payments and cash flow issues. ​

 

Conclusion ​

CloudBanking provides your business the flexibility to compete in the digital world with ACH (automatic clearing house) payments, recurring payments, process credit cards or mobile payment, and allow your business to get paid faster, with low fees and minimum risk exposure. ​

CloudBanking’s user friendly solutions make payments simple and help your business boost revenue through the power of payment automatization. ​

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