If you run a business, you know that making money is priority number one. In order to keep the cash coming in, though, you may find that you need to be flexible in terms of how your customers can pay you. And sometimes taking payments in person isn’t an option.
However, modern payment processing solutions offer businesses the chance to accept credit cards and debit cards by phone and online for card not present transactions. This online payment service — known as virtual terminal credit card processing — gives businesses the opportunity to grow, and it offers plenty of convenience for customers, too.
Which industries can benefit from virtual terminal credit card processing? There are all sorts of businesses that could use this service. If your company runs any of the following businesses or services, take a look at the advantages you could see.
Call Centers
Whether your company operates a sales department or a billing division, a virtual terminal is a necessity for accepting credit cards by phone. Sales can be completed whether customers are ordering from a catalog or setting an appointment with your company. Additionally, all types of billing operations, even those for utilities or medical billing, can offer customers another option besides paying by check through the mail — which is especially handy for those without internet access.
Restaurants
Many restaurants have to deal with card not present transactions if they offer takeout or delivery. Letting customers pay by phone using your own virtual terminal credit card processing software allows for more orders to be placed. You get the convenience of accepting payments by phone, and your customers don’t have to worry about having the right amount of cash handy. Because virtual terminals accept credit cards that aren’t present, they can verify the authenticity of the transactions by taking the names, numbers, expiration dates, and security codes from customers to keep you — and them — safe from fraud.
Online Commerce
Whether your business is online only or brick and mortar, being able to sell products online is a great way to increase earnings. Online credit card payment processing in an internet-based platform that gives customers a way to pay at their convenience. When shopping around for online payment processing solutions, be sure to look for companies that offer data encryption and other security measures to keep you and your customers safe.
Have questions about payment processing and how the right choice can impact your business? Leave a comment below.
