As an online business, there are few times that you actually see your customers face-to-face. This means that having the ability to process payments virtually is incredibly important for your business. There are actually many benefits to using an online payment terminal in your business.
Lower Rates
When you request a virtual terminal, you may receive what is known as a qualified rate, which gives you a lower processing percentage fee than you would normally receive. This is great news for those businesses that have razor-thin profit margins.
Recurring Payments
Since so many online businesses have subscription-based payment models, it can be virtually impossible to process with a physical card terminal. However, when you use a virtual terminal, all you need to do is set up the subscription information in the terminal software and you are all set. The customer can pay the recurring charge with zero effort on their part.
Secure Customer Data
When it comes to customer data, storing it securely simply cannot be done when you use a physical terminal. When you use an online payment terminal, however, you have a way of storing customer data in the cloud so that it can be retrieved for future transactions. This makes things much easier and more convenient for the customers.
24/7 Access
If you are like most small business owners, you most likely have long nights where you are working on your business but not necessarily on the property of the business. With a virtual terminal, you can access your transaction records any time of day or night no matter where you happen to be.
Please contact Xccept.com at Xccept.com for more info.
