TL;DR: As payment ecosystems grow more complex, merchants need flexible and secure ways to accept transactions without expensive hardware. A Virtual Terminal provides the link merchants need to securely enter credit, debit, and ACH payments directly through their own computer. This article explores how upgrading to Payscout’s proprietary Virtual Terminal can streamline your back-office operations, guarantee automatic PCI compliance, and allow you to process payments from anywhere in the world with internet access.
In today’s rapidly evolving digital marketplace, innovations in information technology have revolutionized the way we do business, granting instant access to a global audience. While this expanded reach is incredibly convenient for you and your customers, it also exposes businesses to new risks and sophisticated fraud.
If your business takes payments over the phone, through the mail, or via manual invoicing, relying on outdated desktop software or writing down credit card numbers is a massive security liability. To safely and efficiently manage these transactions, you need an online Virtual Terminal.
What is a Virtual Terminal?
A Virtual Terminal is the essential link merchants need to securely enter credit, debit, and automated clearinghouse (ACH) payments online directly through their own computer.
Unlike a physical countertop credit card machine, a virtual terminal requires no additional hardware. It can be used to process card-based and ACH transactions from any computer with Internet access, anywhere in the world. This software enables the merchant to securely handle the verification, reporting, and processing of all remote transactions.
How Does a Virtual Terminal Work?
Virtual terminals operate much like a secure online checkout process, but they are designed specifically for your back-office staff. When your team receives a payment request, the process is streamlined and secure:
- Data Entry: The merchant inputs the payment details into the secure virtual interface.
- Encryption: The customer’s credit card information is instantly encrypted, and the payment makes its way to the gateway.
- Routing: The payment portal forwards the encrypted information to the merchant’s bank processor.
- Authorization: Finally, the payment is processed through the card network and authorized by the customer’s issuing bank.
What Are the Key Benefits for Your Business?
Transitioning your manual entry processes to a robust virtual platform provides immediate operational and security benefits:
- Location Flexibility: Process payments securely from your office, a remote workspace, or anywhere in the world with an internet connection.
- Reduced Chargebacks: Because transactions are actively verified in real-time, merchants typically receive fewer chargebacks.
- Streamlined Operations: Payscout’s payment solutions are integrated with a variety of enterprise-level accounting software applications, eliminating double data entry.
- Omni-Channel Support: Effortlessly accept all major card brands as well as ACH payments.
How Does Payscout Ensure Payment Security?
When you handle sensitive financial data on your own computers, security cannot be an afterthought. The security solutions for the Payscout Virtual Terminal are based on our development of proprietary eCommerce tools and developer APIs specifically engineered to protect all consumer data.
By utilizing our secure gateway, your business benefits from secure transmissions of customer data and automatic PCI compliance. We ensure that no raw card data is ever stored on your local network, keeping your business safe from breaches and regulatory fines.
Ready to Upgrade Your Back-Office Payments?
Don’t let outdated processing methods slow down your cash flow or expose your business to unnecessary risk. Whether you are running a local enterprise or expanding into the global market, Payscout has the secure infrastructure you need.
For more information on virtual terminals and how they can benefit your business, please visit the Payscout website, or call one of our specialists today at 1-888-689-6088.
Let’s get your payment processing on the right track.
