The basic description of a virtual terminal is an online credit card terminal. One that allows merchants to process online transactions as well as over-the-phone orders via a compliant and fully secure web-based application. Without the use of hardware equipment, a virtual terminal will enable your operation to run debit cards, credit cards, and even electronic checks effortlessly. The only elements that are needed are a gateway ID (which will be given to you by your provider), your typical web browser i.e. Chrome or Firefox and of course, access to a constant internet connection
Virtual credit card terminals feature a basic online form to have patrons input their information for a Mail Order Telephone Order aka a MOTO order. This information could include the customer’s name, their account details, and also the frequency & amount of each transaction. These are all important pieces of information needed to complete this simple online terminal inquiry form. It couldn’t be more painless to have customers use this type of submission process and approval is almost immediate.