Virtual terminal is a web-based application that enables credit card orders to be authorized by any operator with access to the Internet. It is designed for use by any business that accepts orders. The virtual terminal lets businesses process credit card transactions while the customer is "on the line". This provides instant feedback regarding the status of a customer's credit card, and that dramatically improves customer service.

The virtual credit card terminals are some of the safest, browser-based interface that allows you to authorize, process, and manage all your credit card transactions, using any computer with an Internet connection. You do not need any physical credit card terminal.

As they reduce the complexity and expenses, the virtual credit card terminals are suitable for businesses of all sizes. They are commonly used in utility companies, mail order businesses, call center operations, newspapers and magazines, insurance companies, charities, most home based and small business internet service companies. With virtual credit card terminals, you can manually enter all credit card transactions for mail or phone order sales, refund money to a customer's credit card, automatically bill customers for recurring charges, check the status of transactions, run a variety of reports, and capture previously authorized transaction from any internet connected computer anywhere.

Virtual terminals are software-based credit card terminals enabling you to quickly capture and authorize all credit card transactions in real time. When the process is complete, the merchant receives an authorization number and the server stores all the transaction details. Transactions are generally automatically settled at the end of the day and the reports are generated within two to three business days.

Compared with POS terminals, virtual credit card terminals are very fast and accurate. The other feature of the virtual credit card terminals include address verification service, customer and merchant email notifications, recurring payments, and detailed reporting capabilities. Automatic item sub-total calculation, credit card swipe card option, automatic tax calculation, automatic shipping calculation, item discount calculator, billing and shipping data fields, and coupon or rebate calculator are all added features of virtual credit card terminals. Virtual terminal credit card processing rates are lower for card-not-present or non-swipe card business transactions as opposed to retail swipe terminals.

Unlike other software packages, the virtual credit card terminals do not need any licensing fees, upgrade fees, maintenance or programming. The cost is always associated with the authorizing and processing of the credit card transactions.

Nowadays, almost all the establishments accept credit card payments and this is because many consumers make their purchases using their credit cards, and establishments who do not accept credit card payments, risk losing potential sales.

Given this situation, it is then essential for any company that intends to sell products in the market to make sure that their stores can accept credit payments. There is indeed good news, though! Today, accepting credit cards is usually a fairly easy process because companies can gain access to the tools that they need to be able to process all credit card payments from a number of sources.