Almost half of small businesses fall victim to payment fraud at some point in their business
cycle. These frauds have cost such businesses an average of $110,000+ per occurrence.
Asides from the regulars such as hacking and phishing, accepting a fraudulent payment could
make you responsible in the eyes of the law for any resulting loss. Engaging in a fraudulent deal
coupled with the charge-back process and the potential harm it could do to the reputation of your
business, is something that you want to avoid.
Fortunately, there is an outline of steps you can take that will massively help minimize risk and
offer protection to you and your customers from digital fraud practices.

Types Of Online Store Fraud

Before we delve right into how you can minimize risk and protect your ecommerce store from
fraud, it’s vital to grasp some tactics used by these digital scammers.

Several types/kinds of online frauds exist in the online space. However, they can be categorized
into the following groups:

Account Takeover: Majority of eCommerce stores provide customers with
accounts that help store personal information, purchase history and financial data. The
perpetrators of this kind of act usually hack into these accounts through phishing
schemes. One of the most commonly used tactics be these hackers is to send emails to
trick customers into giving up their usernames and passwords. They then proceed to log
into the customer’s account, change the password and then carry out unauthorized
purchases. Bots have been rampantly used in recent times to obtain confidential
information from customers.

Identity Theft: Although most businesses take a proactive approach when it
comes to securing customer data, fraudsters still somehow find a way to hack into
databases and then steal confidential information.

Hackers usually sell credit card numbers to scammers, who then open merchant accounts with
eCommerce businesses and use the stolen numbers to complete purchases.
This type of fraud is usually hard to discover because a whole lot of people don’t monitor their
credit card statements thoroughly, and also because the victims usually have no idea that an
online account has been opened in their name.

Your Commerce Store and PCI Compliance

As businesses work to protect themselves and also their customers from digital fraud, the
Payment Card Industry Security Standards Council (PCI SSC)- a forum of global brands such as
Visa- has developed a set of universal best practices to ensure the maximization of security.
PCI Compliance is not optional for any online business. It follows a strict enforcement.

Managing Your Risk

Though the possibility of occurrence of online fraud is high, you don’t have to give in and
consider it as a cost just yet.

By utilizing the correct tools and processes, you can drastically reduce the chances of an attack
(especially when accepting concurrency payments), ensure both your customers and business
are safe, and slice down your chances of losing revenue and getting caught up in large charge
back fees.

Constantly Monitor Transactions and Reconcile Bank Accounts Daily

The person who really knows your business totally is you. You know your biggest spending
customers as well as their spending patterns. Monitor your accounts as well as transactions for
various red flags such as the physical location of your customers, inconsistent billing, etc. Use
tools that track IP addresses and be on the lookout for IP addresses coming from countries with
high base of fraudsters.

You should also check to see if your customers are using free email addresses such as yahoo, as
there is a higher chance of fraud being committed with these free services rather than paid ones.

Spending Limits Should Be Considered

Based on your revenue trends and order history, you might need to set limits on the amount of
purchases and total dollar value you are willing to accept from an individual account in a single
day. This helps to keep exposure to the barest minimum should fraud occur.
Address Verification Systems (AVS) Should Be Used
These systems help to compare the numeric parts of the billing address stored on the credit card
to the address on file at the credit card company. AVS is usually included in most online payment processors.

Request For The Card Verification Value

It’s most likely that you are familiar with three to four digit security code inscribed at the back
sides of credit cards. What you might not be aware of however is that PCI rules prevent you from
storing the CVV along with credit card number and the owner’s name. That’s what makes the

CVV so unique and effective. Fraudsters can only have access to it if they have the physical
credit card. You should use a payment processing tool that requires the CVV before checkout.

Take Password Requirements More Seriously

Hackers have access to powerful tools that can run all permutations of a password. It doesn’t take
them long to crack simple passwords. Standard practice these days is to request for an eight-
character alphanumeric password that requires at least one special character and one
capitalization. Customers might complain at first, but they'll eventually realize that it's for their
own good at the long run.

You customers should be made aware as to exactly why you require better passwords and you
may even gain loyalty points for being so customer- focused.
Platforms and Software Should Be Constantly Updated
You should ensure that you’re running the latest version of the operating system, as updates are
usually made by providers concerning security patches in order to prevent fraud and shield you
from newly discovered vulnerabilities, as well as the latest viruses.
Furthermore, you need to install and regularly make updates to business- grade anti- malware
and anti – spyware software in order to prevent digital attacks that exploit outdated software.
Free consumer – strength and limited- feature antivirus programs are grossly insufficient.
If you would like to learn more about the tools we use to helps business’s with online fraud.
Contact us to learn more.

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Credit cards play a vital role in our daily lives. Having a credit card is an important step that everyone can make to use for emergencies, to build credit, for fraud protection and many more benefits.

However, there are essential things you need to keep in mind if you’re dealing with credit cards. First, you need to understand the pros that you’ll realize when handling your finances since your finance occupies a significant portion of your life, meaning you need to get most out of it.

But why do you need to accept credit cards in your business? Worry no more! I have the right for you.

In this article, I will cover the top ten reasons to accept credit cards as discussed below:

1.   To legitimize your business

Accepting credit cards give the cardholders a sense of trust in your business. This is because every time you display the logos of the accepted credit cards at your website, POS or register, you grab the attention of the cardholders.

Every cardholder trusts these credit cards enough up to the extent of carrying them in their wallets. Other than this, the trust gets transferred to the merchants, hence building up their confidence to accept them.

2.   To boost your sales

Significant broadening of the potential customer base is a common effect whenever a business stops cash on delivery services and accepts credit and debit cards instead.

Also, it goes that there are high chances of making additional sales if you increase the rate of grabbing your potential customer’s attention.

3.   To remain on the competitive level

In every business you start, your main aim is to remain competitive and generate more returns. To realize this, you need to offer the same services as your competitors.

Therefore, if the competitors accept credit cards, you also need to offer the same services to remain competitive and profitable.

4.   To enhance impulse buying

Quick and easy completion of the transactions without having to run to the ATM or writing a check is one of the aims of the potential customers. This is essential since it limits the expenditures they make to their available funds.

As per the latest research, customers spend more when they’re making payments with credit cards, hence another main reason to accept credit cards.

5.   To improve cash flow

The transactions for credit cards are carried out electronically and settled within the shortest time possible. Other than this, the proceeds are primarily deposited into bank account efficiently and quickly.

Therefore, with the credit cards, there is less handling of cash, no more collecting from the customers, no more billing, and waiting for check clearance.

6.   It is essential for online business

Nowadays, most of the payments for online transactions are made with credit cards. Therefore, accepting a credit card is not an option if you’re an e-commerce merchant.

7.   To eliminate the risk of accepting a bad check

Another main reason to accept credit cards is that they are always screened while processing them to reduce fraud risk.  

Other than this, you can protect yourself, and your customers from identity theft and data breach by relying on the reputable merchant service provides such as TSYS for the delivery of secure credit card processing.

8.   They are the most convenient and beneficial for customers

Every customer desires to go for the most convenient and beneficial method of payment.

Other than being easy for use in a variety in the wide range of capacities, credit cards also offer rewards, points or mileage that play an essential role in encouraging the cardholder to use the credit cards whenever buying something.

9.   They are a relatively cheap business expense

Processing of the credit card is one of the most competitive industries. The rates for this processing do not cost high, meaning that every business can accept credit cards.

As per the discoveries made by many merchants, an increase in sales because of accepting credit cards usually offsets the associated costs, which in turn, makes the account of the merchant to be the best return on investment.

10.                  It is quick and easy to process the credit card

You can process your merchant account application instantly and get ready for processing the credit card sales in less than 48 hours.

The post Top 10 Reasons To Accept Credit Cards in 2019 appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

A Quick Pointer On Online Payment Systems
There are some terms, concepts and systems to be familiar with before getting started with online
payment systems.

ACH Payments simply refers to electronic debit and credit transfers which allows
customers from any part of the world make payments directly from their bank accounts
for mortgage loans, utility bills and generally any other type of bills. ACH stands for
Automated Clearing House and it is common place for most payment processors to offer
ACH payment options to their customers, most especially when it comes to monthly and
subscription- based transactions. Majority of modern payment solutions use ACH to send
money (usually excluding fees) to their customers.

Merchant Account is a bank account which usually allows a customer receive payments
through either their debit or credit cards. Merchant providers are usually required by law
to follow and obey regulations established by various card associations. A good number
of processors act as a merchant account and also as a payment gateway.

Payment Gateway allows different merchants to securely navigate credit card
information between the customer and the merchant and then also between the merchant
and payment processor. The payment gateway can also be seen as the middleman
between the merchant and their sponsoring bank.

Payment Processor refers to the company that a merchant uses to enable him handle
credit card transactions. Payment processors help to implement special anti – fraud
measures to help ensure that both the front- facing customer and the merchant are
protected.

PCI Compliance refers to when a merchant or a payment gateway sets their payment
environment up in a way that ensures they meet the Payment Card Industry Data Security
Standard (PCI DSS). The PCI DSS standard was created by the Payment Card Industry
Security Standards Council in order to increase the security of cardholder data and to help
reduce fraud.

Following immediately are the 10 top- notch online payment systems.

1. PayPal
PayPal is arguably the most widely used payment system in the world. PayPal has successfully
processed over $4 billion in payment since 2011. Payments with PayPal are made using the
existing account of a user or with a credit card. Money is usually sent directly to an email

address, this making the user sign up for a new PayPal account. In addition to it's services of
taking payments, PayPal also gives it's users access to the services of sending money through,
which is a feature that only few payment processors also offer.
Pricing: PayPal takes 2.9% + $0.30 as transaction fees. It has no set up or monthly fees. Source;
PayPal.com

2. Authorize.Net
Authorize.Net is a Big name in the Payment industry as is one of the biggest payment gateways
online. Having a user base of well over 300,000 merchants, Authorize.Net down the years has
been the go- to method for a lot of e- commerce sites that need a gateway to accept payments
from all around the world. Popular and widely patronized e- commerce platforms such as
Magneto, Volusion and X- cart are set up to accept payments using Authorize.Net.
Pricing: Authorize.Net has a set up fee of Free-$99, $10-$20 monthly fee and takes $0.08-$0.10
as transaction fees. Source; Authorize.net

3. Amazon Payments
Amazon Payments allows its users to receive payments using its API. It also allows users send
out money using ACH. Popular crowdfunding sites make use of Amazon Payments.
Pricing: Amazon payment fees begin at 2.9% + $0.30 per transaction for payments over $10. For
payments under $10, the fee stands at 5.0% + $0.50 per transaction. Source: Amazon.com

4. Google Checkout
Google Checkout is more or less Google is the answer to PayPal. This payment processor allows
users to pay for goods and services through the account connected to their Google account. The
major benefit that Google Checkout has is that millions of internet users use Google for different
services, making a purchase using this processor far easier.
Pricing; Google Checkout fees start at 2.9% + $0.30 as transaction fees for sales less than
$3,000. The percentage they take goes down depending on sales volume for the month.

5. Dwolla
Dwolla is a direct competition to PayPal. Though one of the newcomers in the third-party
payments space, it is already processing up to $1 million per day. Setting up a Dwolla account is
similar to PayPal. However, it does not have the name recognition that PayPal has.
Pricing; Dwolla does not charge any fees for transactions less than $10. For transactions above
$10, it charges $0.25 per transaction. Source: Dwolla.com

6. Stripe
Stripe helps to provide an excellent solution for web developers looking to integrate a payment
system into their projects using Stripe’s robust API. By bypassing the traditional signup process,
stripe acts as a merchant account for its users.

Pricing; Stripe charges 2.9% + $0.30 per transaction. It has no setup or monthly fees.

7. Braintree
Braintree is an online payment gateway and merchant account solution notorious for working
with popular tech startups such as Airbnb.
Pricing: It has no start-up or monthly fees. It charges 2.9% + $0.30 for transactions for qualified
cards. Source: Braintree official website.

8. WePay
WePay is a payment processor that allows internet merchants to accept bank account and credit
cards payments online. WePay is focused on individual users and has recently added e- store
pages to their services in order to help customers take in payments.
Pricing; It charges 3.5% transaction fee ($0.50 minimum) for credit card transactions and $0.50
for bank payments. It has no monthly or set up fees. Source: WePay fees.

9. 2Checkout
This is another payment processor that combines a merchant account and payment gateway into
one which allows users receive both credit card and PayPal payments. The company offers
international payments, shopping cart stores and also recurring billing features.
Pricing; $0.45 transaction fee and $10.99 monthly fee.

10. Virtuous Payments
With us at Virtuous Payments we have made handshakes with many payment gateways
and payment options as listed above. Which means volume discounts and with lower
monthly fees ranging from $10-$25, alongside that we provide a Low-Cost
pricing program. Which can be a lot better then some of the biggest companies that offer
above 2.50% per Swipes.

Conclusion
There are a lot of online payment systems that can help you in your business or service venture.
You can choose anyone that sits best with you and your business objectives. Should you like to
learn, Don’t hesitate to reach out.
The list above is in no way definite and exhaustive. Us at virtuous payments take pride in helping
business owners

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New payment technology such as wearable innovations and biometric tech are the new things that are going to make shopping a breeze. Some of these include being able to pay with their sunglasses, face, ring, and palm.

Pay with Your Sunglasses

The most interesting new option is the payment-enabled sunglasses from Visa. They unveiled a prototype at several events simultaneously on March 13^th. The Visa company installed a chip in the side of the glasses and to pay, all you have to do is take them off and tap them on a Visa terminal. No cards or ID required. While it is not available to the public yet, Visa is trying to determine whether there is a big enough demand.

Pay with Your Face

Paying with your face seems like something from a science fiction movie but Samsung Electronics is trying to make it a reality. They are planning to use facial recognition software for mobile payments from your Galaxy S8 smart phone. The phone will mix eye, fingerprint, and facial detection to identify the users for Samsung Pay. Using the iris in your eye is already being used but Samsung believes that facial recognition is faster and more accurate.

Pay with Your Ring

Customers in the United Kingdom can already use the world’s first payment ring that lets you pay for your shopping or public transportation with your finger. The Kerv ring will give each customer a personal prepaid Mastercard that they can even add funds to. According to Kerv, you can even use it to unlock your front door if you have a contactless lock. It does not need to be recharged and you do not have to pair it with your phone so you can use it even if your phone is dead. This means you will not need to get out your wallet or phone when getting on the bus or paying for your shopping.

Pay with your Palm

There is also a new biometric payment system called Keyo that lets you pay for things just by holding your hand over a scanner. To sign up, all you have to do is create an account with your credit card details. Then when you visit a retailer that has a Keyo terminal, the scanner reads your palm and maps the patterns that are unique to you. With this, you can just wave your hand and pay for whatever you want without a wallet or purse. Right now, it is being tested in Chicago but it has plans to expand to other areas of the world.

In the future, there may be even better and faster technology for paying for things. In addition, companies are trying to create technology that can successfully block all hackers to make this new tech safer to use.

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POS Systems

Point of sale machines (POS) are normally seen in cash register stations which nowadays frequently include PCs, money drawers, monitor, printers and barcode scanner, not leaving out a MasterCard processing station. Truth be told, the phrase ‘Point of Sale’ systems and the debit card reader are frequently utilized conversely though wrongly in technical sense. Point of sale machines are utilized when a client needs to and is prepared to make a transaction, where the trader scans the goods to be bought, the PC records the data, and the screen shows the price. After the client pays at the check-out terminal, the printer produces a receipt for the client. Also, latest point of sale machines have addition attractive highlights to accommodate for cutting edge functions, for example, CRM, warehousing, financials and inventory organization.

Firms are progressively using point of sale machines as a key advantage of these systems is that they aren’t reliant on price tags. The costs of the goods are connected to the item code, so all the clerk needs to do is check the code and complete the transaction. Just in case there is a price alteration, all the clerk needs to do is adjust it through one of the features of the point of sale. Additional merits include the capacity to rapidly execute different discount, stock control and a promo for clients.

As indicated by piece authored by J.P Post Canada, they’ve undertook a research work in  urban areas, perusing school supply prerequisite records to accumulate how much expenditure is devoted to class supplies for Grade 5 pupils. The group at Huffington Post looked for stuffs on Wal-Mart and Staples, purchasing non-specific or store brands and finding the price average of both.

The outcome they found was that the average expenditure for school supplies was $110 per student yet these records for school supplies alone, and did exclude cloths, additional curricular expenses, and different lessons or exercises outside of college. The scientists and writers published the accompanying tricks to empower parents to come up with a sensible spending plan:

• Be clever! Check out your home, there may be things you have lying around that are as yet helpful and even new.
• Buy in bulk, for example, stationery.
• Don’t be restricted to one shop. Shop around. Due to competition, a lot of shops will have tempting promotions and discounts. Move around and you will undoubtedly discover incredible discounts.
• Most essentially, in the event that you have a budget and a financial plan, don’t deviate from it. Try not to be tempted by other enticing offers and get diverted from your budget.
• Dollar stores now and then offer liquidation of value brand items at mouth-watering costs

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Royal Debit offers business merchants the solutions to accept payments in a secure digital environment

In the not so distance past credit card processing involved those little carbon paper forms and the sliding machine. Between 1960 when the Diners Club card was first issued there have been remarkable transformations in the credit industry.  These days the biggest priority is security both businesses and consumers are demanding more from their credit cards and credit card processing systems that will allow them to make secure purchases and transactions online and offline.

Every day it seems the news reports a new data breach. These reports constantly remind us that security is of primary concern both to the customer and the retailer.  In 2017 alone companies such as Saks, Brooks Brothers and Xbox have been hacked and personal customer data has been exposed. In 2014 the highly publicized hack of Target in the US led to the exposure of personal credit card information for 140 million people, more than three times the total population of Canada.

The numbers are growing every day and cyber-criminals are increasingly hacking a greater number of businesses that deal with vast quantities of customer information.

Digital or ecommerce sales are predicted to triple in Canada by 2020 to $55.78 billion Canadian dollars. Canadians are using ecommerce and purchasing online in far greater numbers than ever before and this means they are using online credit payments. These credit payments are convenient and can be made anywhere in the world. However the need to provide secure systems and

To protect customer data is a critical aspect of credit services.

Royal Debit can help with that burden of responsibility. Royal Debit offers advanced security and top of the line encryption technology. With a multitude of options that allows businesses to integrate the system with pre-existing shopping carts and ecommerce programs Royal Debit can support and enhance your ecommerce businesses with overhauling your entire system.

Royal Debit offers the lowest rates in the industry on their services that include: Debit and Credit card point of sales terminals, integrated ecommerce online payment solutions, as well as mobile payment services.

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A secured credit card is very much like a regular credit card, but the major difference is that you’re required to make a deposit against the card’s credit limit. Your credit limit will usually be a percentage of your security deposit or it may be the same as your deposit.Typically an applicant for a secured credit card must deposit between 10% to 200% of the total amount of credit they want. For example if they want a card with a $1000 credit limit they may need to put down a deposit of $1500. In many cases however the deposit may be significantly less than the requested credit limit. Credit card issuers began offering this option for customers as a means of rebuilding credit or simply building credit. Credit card issuers noticed that when the customer thinks they might lose something they are far more likely to pay back the monies owing on time.

In many cases the deposit is around 10% of the credit limit offered. The cardholder is still required to make regular payments on the balance held on the card but the deposit is held as a security measure in case of default. There are a great deal of advantages to the individual who applies for this type of card. The use of the card and regular payments allows the cardholder to develop a credit history that will be useful for bigger purchasers in the future such as a car or even a mortgage.

These types of credit cards do come with conditions that are described in the cardholder agreement. The deposit held by the card issuer will not be debited simply for missing a couple of payments. The deposit is only used as an offset when an account is closed. Accounts are only closed at the request of the customer or when the account is greatly overdue (150-180 days). This does mean though that an account that is say 150 days overdue will continue to gather interest and fees and could end up with a balance that is far higher than the actual initial credit limit. As such the cardholder may be left with a total debt that far exceeds the original deposit and is still required to pay it all back.

Secured credit cards are a great option for building a credit rating or re-establishing credit after a poor credit history. The fees and interest levels charged on these types of cards can be much higher than a standard credit card and for certain people with a very bad credit history these cards can prove to be quite expensive compared to standard card.

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As a Business owner, In some industries having to deal with chargebacks is something that happens more often in comparison to other types of businesses. Business Owners such as supermarket merchants/retail merchants and business owners that sell food. Often time face a good deal of fraudulent cards in customer-facing environments. There are various ways a chargeback can occur when accepting a card, such as

Common reasons for credit card charge-backs include:

1.Fraudulent Transaction

The cardholder has disputed the charge and stated it is a fraudulent charge. Provide a copy of any signed receipts and include proof the card was present at the time of purchase to dispute back. Always obtain a copy of the card and signature for disputes.

2. No Authorization

The issuer did not authorize the transaction. Show the denial to the customer and never process a transaction without authorization

3. Duplicate Processing

The transaction has already been submitted once. Enter payment transactions once and avoid entering them again.

4. Cardholder Doesn’t Recognize the Transaction

The cardholder doesn’t recognize your company name on his or her bank statement. Avoid this by using a recognizable name. Present proof of purchase and the customer signature to avoid a credit card chargeback.

Now let’s talk about how to prevent a charge-back with your payments. Some Merchants using 3rd Party Processing companies run into problems because the company name that appears on cardholder’s monthly statements is usually the name of the processing company and not the name of the business where they made their purchase.So, using these tips you can prevent charge-back with your payments:

Ways to prevent chargebacks at your business:

1.Have Policies

Your business should have policies regarding merchandise returns, refunds, or service cancellation; these policies must be disclosed to the cardholder at the time of the transaction. Your policies should be on your sales receipts, order confirmation, thank you letters, getting the idea of everything. The customer might wonder why you add all this stuff to the emails, but when it comes time for questions they can find the info they need to get in touch with you.

2. Do not Accept Expired Card’s

Do not accept a card after its “Good Thru” or “Valid Thru” date has passed, unless you obtain an authorization approval for the transaction.

3. Do Communication

You the merchant need to communicate to the customer in such a way that they need to talk to you first! That you want to make sure they are satisfied. You need to gain their trust and confidence. Remember they are not the enemy. They just gave you money for something and they want equal value.

4. Keep Records

If your business delivers products use a carrier that offers delivery notification. Retain these for your records. In fact, you want to make sure that you keep records for all transactions so you can present these to your merchant provider and the card company if need be. The more documentation you have the better.

5. Work directly with companies

Us at virtuous payments are an agency of First Data which therefore means we are not a 3^rd party vendor reselling services. In turn, this can help your business as should there be a chargeback you would be dealing directly with first data which can help in chargeback dispute processes.

A Good Merchant Provider will work alongside you rather than against the business owner/merchant when it comes to chargeback situations. It doesn’t mean that you are always wrong and the customer is always right. Facts speak for themselves and a good merchant provider will check their options before making a financial decision. Give us a call today to discuss with other in personal ways to protect your business on chargebacks.

The post How to prevent Credit Card chargebacks at your business! appeared first on Merchant Services Vancouver, Canada - Best Online Credit Card & Payment Processing Canada.

So, here is a step by step guide to making it simpler for you! Read on…

1. Think About Penalties and Fees 

Termination date for the merchant account is always mentioned in your contract that can be canceled without penalty. But most people are not aware of it so, you might end up paying penalties and bills to the service provider. Always check your contract date and speak with the representative before your contract finishes.If the time period is merely a month or two away then your payment provider may auto-renew your agreement into another 1-3 years as well, So it is important to have awareness of when your agreement is due.

2. Talk To The Service Provider 

Every service provider is special and has their differences. You will have to contact your service provider for canceling the account. You might need to contact customer care service or the cancellation department/Loyalty department since you no longer want the account. Upon calling, you will have to tell your business details and verify your identity. Always make sure to note down the reference number of the call and details of the representative for further assistant or in case you have issues later on.

3. Describe Your Occurrence 

All service providers will ask you about the reason for cancellation. Explain them the reason for discontinuation and that you no longer require the account. Many service providers will offer you better deals to win over your business and prevent you from canceling. Tell them why you no longer need the account and stick to your decision and make no amendments.

4. Positive Returns 

You will have to return the equipment before the cancellation of the contract. Draft an official mail or fax for the cancellation of the account. Make it a point to get confirmation letters or emails regarding the handing over of the equipment. After your cancellation has been confirmed, you just need to make sure that you are no longer being charged for anything on your account. If you are, then call the service provider again and inform them that the account should be canceled.

While all this might seem like a frenzied task it is quite the other way. You just need to make a call to your service provider and follow the steps that have been mentioned above. Always make sure to keep records, receipts, and track of the confirmation letters. Should you want reconciliation on your penalties and fees for canceling your payments account or assistance with cancellation strategies. Contact us today.

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A good business is one that is flexible and customer-centric.

In the digital turf, merchants, Small business owners, and startups all strive to deliver value to their customers, in one way or other. Most of businesses (especially those who consider the bigger picture) have gladly embraced modern-day technology, as it helps them win more customers and establish dominance in their niche. If you too are keen to harness success, we recommend you to become acquainted with the concept of a virtual terminal.

Virtual Terminal- Making It Easier to Process Card Payments Online

A virtual terminal can be perceived as a web-based version of a physical credit card acceptance device. It is a straightforward and absolutely undemanding solution empowering merchants to accept credit and debit cards payments online. It will not only help you to get paid quicker and better, but would also save you from investing in a physical credit card equipment or POS terminal. All you need is a reliable web connection, your internet-ready device and a standard web browser to start accepting payments outright.

How Does It Work?

Wondering how a virtual terminal works? Honestly, it’s no Jigsaw puzzle that’ll knock your socks off. It’s a very simple process, giving you the ease to process payments in a fast and secured fashion with minimal setup. Here’s how to you use a virtual terminal-

• Customer shares with you their credit card or ACH details (Fancy word for Card Details) via phone or email.
• You open your web browser and login to your virtual terminal.(Much like a online payment machine)
• You submit customer’s payment info.
• You click on ‘Process’ to get the transaction approved.
• Once done, all related parties are notified about the successful transaction.

Your Features & Perks of Choosing Virtual Terminal Services

• Accept credit cards faster and easier
• Charge Customers anytime: Daily/Weekly/Bi weekly/Monthly/ Semi Annually
• Store credit cards on a secure Canadian network and give your customers the concierge treatment by easily charging your client
• Accept credit cards for your local business from virtually anywhere with a laptop and internet
• Ditch the expenses of buying and maintaining a traditional credit card device
• You are in charge of the entire transaction process
• Real-time online reports

As you can see  these benefits are tempting and worth your attention? If you are willing to take a leap, connect with us. We at Virtuous Payments offer the most credible virtual terminal solutions through our exclusive partnerships. We aim to empower businesses and give them digital-wings to realize their true potential, that way your business can focus on what matters most to them.

Discover our offerings and do connect if you are ready for our digital transformation.

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