![]() Are not always done in person with the customer present,. ![]() Consider using virtual terminals if your business accepts payments that:.Check that your virtual terminal provider includes sufficient data encryption technology that protects your customers from fraud.Virtual terminals are a secure, online version of credit card terminals, and are hosted on the servers of your chosen service provider.Here’s a brief summary of what’s in this guide: When you’ve finished reading, all of your questions will be answered and you’ll be able to call yourself an expert on virtual terminals. Right now you’re probably starting to second-guess everything you know about virtual terminals. Yes, providers of virtual terminals offer security features, but they vary in amount of risk reduced and PCI (Payment Card Industry) compliancy. You’re not wrong! But that statement is a dangerous oversimplification of virtual terminals and their functions.įor example, it doesn’t tell you how your transactions are kept secured or how your customers’ credit card information is protected. Picture this: someone asks you to define ‘Virtual Terminal’, and I’m guessing you’d say it’s an online payments processing system for businesses. How Information Is Kept Secure on Virtual Terminals.It is only if you require more custom features that we recommend looking elsewhere for card machines that are more customizable, such as Clover POS terminals. Of course, if you’re already using a Square card reader, there’s no fuss changing over to a different system by going for Terminal. For this reason, we would not recommend it for use on the go where WiFi networks can’t be relied on. It works best in locations with a fixed WiFi connection or checkout counter where you can connect an Ethernet cable. If you sell primarily online, but have a brick-and-mortar store too, the simple Square Terminal checkout could be what you need to connect those sales without superfluous equipment to fill your face-to-face shop. Vice versa, an existing cash register without a credit card machine could do well with a supplementary Square Terminal for card payments on the side. If you’re cashless, it is truly just the terminal you need. Small shops, coffee shops, hairdressers or any other type of merchant who doesn’t require a complicated checkout can rely on Square Terminal to save counter space and money because you don’t need to buy a receipt printer, tablet or touchscreen monitor. Pickup and delivery orders paid for online can be managed on the terminal, which is handy for order fulfillment. Receipts can be customized in Settings, and food places can set the Terminal to print order tickets. In fact, you go to Transactions to process a refund (itemized or custom amount) or resend a receipt via email or text. Transactions, sales history and reports can be viewed on the terminal. As long as the transaction was completed by tap, dip or swipe, the charge is 3.5% + 15¢. If you use the browser-based Virtual Terminal, transactions can be sent from your computer to Square Terminal for an in-person payment. Over-the-phone payments are also possible – just add products or enter an amount on the regular checkout screen and choose manual card payment as the payment method. You can create and send Square Invoices directly on the terminal, accessed from the side menu. The customer library enables you to add a person to the invoice rather than entering recipient details manually. For example, for a swipe card payment, you pay 4.1% + 10¢ per transaction with Instant Transfers. If you want it faster, activate Instant Transfers in your account and a 1.5% transaction fee will be added to the card fees – you then receive the money in your bank account almost instantly (within a couple of hours). Transactions are automatically transferred – for free – to your bank account within 1-2 business days. You even get free payment dispute support from the Square team, in case a chargeback should incur. Refunds are free to process and chargebacks incur no admin fees. Online transactions via a Square online store, payment links or e-invoicing are 2.9% + 30¢ per transaction. All keyed payments through the terminal or Virtual Terminal cost 3.5% + 15¢ per transaction. Transactions cost a fixed % rate and fee, 2.6% + 10¢, for all dip, tap and swipe card payments through the terminal regardless of card brand, country of issue or whether it is premium. In Square’s store, you can buy the following compatible accessories: If you’re connecting the terminal to other hardware, you’ll need the Hub for Square Terminal costing $39. ![]()
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