by on December 25, 2023


The virtual terminal payment gateway is a tool that works with merchant accounts to process credit card payments remotely. This is a popular tool for businesses that would benefit from a credit card point of sale (POS) but can’t afford to invest in an expensive physical device. These types of businesses include reception-based businesses like medical offices, and freelance services such as writers, photographers, and home repair professionals.

When a customer inputs their credit card information into the virtual terminal by typing or by texting a link, the payment gateway captures this data and sends it to the merchant’s payment processor or acquiring bank. The card-issuing bank then reviews the transaction details and approves or declines it. The payment gateway then communicates the results back to the virtual terminal, and if approved, the funds move from the acquiring bank to the merchant account.

After the payment is processed, most virtual terminals generate a digital receipt to be emailed or texted to the customer and merchant for record-keeping purposes. Some virtual terminals also offer recurring payments, which is an additional convenience for both the business and customers.

Virtual terminals are a great option for businesses that need to accept payments remotely but still want to provide their customers with a convenient, secure, and consistent experience. To find the best solution for your business, it’s helpful to speak with a credit card processing expert. Our partners at CardFellow can help you compare quotes and rates from top credit card processors.    virtual terminal payment gateway

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