While a retail store needs a physical credit card terminal to accept payments, some businesses only need a virtual terminal to accept credit card payments. With us, Colorado Springs virtual terminal credit card processing is secure, easy, and a great tool for your business.
Virtual Terminal Features
Before you apply for a merchant account, you should make sure the virtual terminal that is offered fulfills your needs. Here are some of our most utilized features on virtual terminals:
Secure Card on File:
Rather than calling your customer over and each time they do business with you, you can simply store their credit card information in our secure virtual terminal. Don’t worry, nothing is stored on your computer, so it’s safe and convenient for you and your customer.
Do you sell memberships, subscriptions, or payment installments? With recurring billing, you can automate recurring charges by charging a card on file according to a repeat schedule. Just set it and forget it for ongoing subscriptions. For payment plans, you can set an end date or seamlessly end the billing after a set number of payments. Recurring billing is easy to manage. You can add, pause, or cancel billing plans at any time through our Colorado Springs virtual terminal credit card processing.
See all your transactions in one place in beautifully detailed reports! You can do this either in the office or on the go. You can also download it into a CSV file and import it into QuickBooks.
Permissions and Restrictions:
Through PayFrog, you can get unlimited users each with their own individual login. Different staffers have different roles in your company, and you can limit or permit their access on a necessary basis. Accountants can view reports. Managers can issue refunds, clerks can run sales, and owners can add/remove users and set permissions.
A payment gateway enables you to accept payments directly on your website. Not all virtual terminals include this, but ours does! You can sell your products or services online or collect receivables from invoices 24/7.
Sometimes these Gateways are third party companies. Since PayFrog uses PayJunction technology, you’ll be using the specific Gateway that PayJunction owns. This can save you third party fees and provide you with one support department for both your merchant account and gateway questions.
You cannot have Colorado Springs virtual terminal credit card processing without a Payment Gateway. A payment gateway is essentially the boxes that your customers put their card information into before clicking “confirm order”. In layman’s terms, it is the connection between your shopping cart on your website and your merchant account. It uses a strategy called encryption. This is codifying card numbers to ensure that they aren’t copied if they are compromised during this step.
Active Limit Monitoring:
Did you know that merchant accounts have processing limits? Most processors will hold back your funds if you run a sale too large or go over your monthly volume. With our Colorado Springs virtual terminal credit card processing, we’ll actively monitor your limits and give you alerts in your virtual terminal interface when you get close to it. This will allow you time to get in touch with our risk department and increase your limits. You’ll get your funding the next business day and we’ll never hold back funds.
Be a Safe Merchant
Due to the nature of your business, you are more prone to chargebacks (cardholder disputes). Because you take payments online via keyed in functions, transactions are more likely to be done with stolen credit cards or by customers who want to return their item later. Traditionally, a major drawback for taking credit card orders over the phone and keying them into a virtual terminal is that you don’t get to collect a cardholder’s signature for the credit card authorization. Good thing we have strategies in place to protect you and your business! They include:
- capturing remote signatures via email
- recording the IP Address of the cardholder (when they sign receipts)
Using our Colorado Springs virtual terminal credit card processing, customers can sign emailed receipts using their mouse or touchscreen!
Colorado Springs Virtual Terminal Credit Card Processing for Small Businesses
There are some risks to key entering credit card transactions for your small business. However, those risks can be mitigated by using our strategies to keep you and your customers safe. Also, you can enjoy lower costs than other processing providers. Let us help you find all of the other perks of using PayFrog to setup your Colorado Springs virtual terminal. The price tag is definitely one of those benefits!