Virtual terminals include features that businesses can utilize to their benefit. With a POS system that is equipped for and capable of virtual credit card processing, you can expand your brand, upgrade visible retail space, improve invoicing, and save money. There are many more reasons why your business could benefit from accepting virtual credit card payments, but here are a few to get you started.
1. A Mobile-Friendly POS System Expands Your Reach
To run a business today, you need to have the latest technology to keep up with trends, customer demands, and data storage. These factors can contribute to the reach of your brand, and without the right POS system to assist in your operation you could miss out on tons of potential business. A strong cloud presence in your POS makes it easier to move, store, and protect data.
In addition to increased security, adding virtual credit card processing with the right POS system allows you to expand your brand with a fully integrated and customizable website template. Orders can be accepted and paid for online and appointments can be easily booked and coordinated. Further broadening your reach with third-party delivery options, your customers can rely on you for a contactless customer experience.
2. Mobile App for POS Registers Adds Function and Style
Although contactless has become preferred these days, brick-and-mortar shops can still benefit from upgrading their legacy tills to mobile-based POS systems to increase the function and aesthetic of checking out. You will need a POS terminal that can appropriately transmit and receive payment details and information to and from the cloud in accordance with applicable Payment Card Industry Data Security Standard (PCI DSS) requirements. But it must also be uncomplicated for staff to use and make the payment process easy for customers who are likely already accustomed to using contactless payment options.
Using mobile-based POS terminals that utilize sophisticated and innovative mobile payment apps is an ideal solution for accepting virtual payments. A mobile payment app is functionally capable of accepting almost any form of virtual payment, including digital wallet payments. The app offers your staff additional freedom in the experience they create with a customer, giving them more customer service options that include bringing the terminal into any part of your business.
3. Invoicing Process Is Streamlined
Deciding on how to initiate payments is one thing, but tracking the sale is another. Customer invoicing is a form of a payment request that can range from simply printing a receipt after checkout to requesting payment for catering for a large event. Invoicing has for too long been based on moving paper from one party to another while waiting for more paper in the form of cash or a check to appear at its final destination. But the influx of mobile POS technology that includes web-based invoicing software has revolutionized the small business invoicing process.
Not only does this streamline the invoicing process, but it adds the option of virtual payment processing to this integral step. Invoices that are digitally sent can be constructed to include a clickable payment link. The customer can click on this and review the invoice, offering either suggestions or requested changes. Digital credit card payments can then be submitted using the same link; the funds will then quickly appear in your account.
4. One Hub Eliminates Additional Costs
Consolidating your payment process means cutting out the middleman. Payment acceptance terms can be confusing and include escalator clauses that raise the costs of doing business when certain transaction volumes are met. These terms can also seemingly be written in stone making you feel stuck in the Stone Age while the world changes around you.
An ideal approach for taking back control over payment acceptance is to leverage your POS provider. A small business-friendly POS vendor will provide you with open-ended payment acceptance terms that they negotiate for you. These will present you with more virtual payment options and allow you to change in response to new consumer trends. You will also gain control of and insight into your financial costs, allowing you to develop and follow a budget with confidence.
Enjoy the Benefits of Virtual Credit Card Processing
Virtual payments are trending in the small business world. In addition to utilizing the virtual payment process for brand expansion and organization, incorporating virtual terminals will reduce unexpected fees or risks. Partnering with the right POS provider will give you the guidance and tools you need to confidently accept virtual payments.
Our ability to install top-notch POS technology is a given, but have you considered talech for your virtual credit card processing needs? Our business consultants will examine your payment acceptance terms to ensure that you are getting maximum value from the payment types your customers expect you to accept.
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