Virtual Terminal Merchant Account

PaySpace allows you to use the virtual terminal (VT) for MoTo transactions so that your clients could pay for your services via phone, chat, etc. You will be provided with a specially designed virtual terminal application that makes the payment processes quick and easy. We offer you to open a virtual terminal merchant account with us at great conditions as well as take advantage of a range of very beneficial services, such as chargeback protection.

What Is a VT Merchant Account?

It is a specific type of internet account created for merchants who want to accept Mail Order and/or Telephone Order (MoTo) card payments. Such accounts are designed to allow to accept payments via both a virtual terminal or secure webpage, which can be accessed from any place. Basically, your customers just need to have an internet connection to make their payments using this payment solution.

It is very convenient to make and accept payments using a virtual terminal, but since the payment process is conducted without the physical presence of the card, it is associated with a higher risk of fraud, so it is essential to ensure the high level of protection using the most innovative security technologies.

What Are the Risks Associated with Using VT Merchant Account?

Although today it seems to be easier to reach the target audience and allow your customers to pay for your products or services using various payment options, a range of difficulties still remain, making the lives of business owners harder. Unfortunately, acquiring banks are not willing to open merchant accounts for everyone who needs it, providing various reasons from a low credit score to being new to the business. Today, those merchants who operate using only virtual terminal for payments are considered to be high risk for a few reasons, including the following:

  •         Financial institutions and payment processors cannot check what the merchant actually sells;
  •         Merchants could provide incorrect card information, such as its number, expiry date, CVV code, which will later lead to a chargeback;
  •         Merchants may write down card information on a piece of paper, which is not a good idea in terms of data security.

As a result, merchants may find it problematic to open a merchant account, which makes them look for reliable alternatives to traditional financial institutions. PaySpace has many years of experience in providing different business owners with merchant accounts, including those accepting payment using only virtual terminals. You are very welcome to fill out our “merchant form” that you can easily find on our website.

How to Get a Virtual Terminal Merchant Account?

We cooperate with reputable partners residing all over the world and we are able to find the best solution for your business. To do it, we just need to know some information about your business, but you can be sure that we will only ask our questions related to determining your business needs. The information that we may ask you may include the following:

  •         Do you have your own website?
  •         How long have you been in the business?
  •         What integration option do you need to use?
  •         In what countries do you wish to operate?
  •         What types of currencies do you need to accept?

On our website, you will find the merchant form that contains a few questions that you should provide answers to. Later, we may need to ask you a few additional questions if there is a need to clarify something.

Why You Want to Be Able to Accept Payments over the Phone

Being able to accept payments over the phone is a very useful tool because websites may be unexpectedly made unavailable due to different technical issues. You do not want it to affect your business operation, and that is why it is always good to have an alternative payment solution. Also, some people may not trust online purchases, and they feel more confident when contacting the seller over the phone. Moreover, if you indicate that you are willing to accept payments over the phone from your customers, it will contribute to the good reputation of your business.

Where to Get a Virtual Terminal Merchant Account?

If you cannot set up a virtual terminal merchant account in a local bank, you will have to look for an alternative solution. You should also keep in mind that a merchant account is not all that you need, because you also must have a payment gateway, ensure that you will get payments in certain currencies, accept payment in certain countries, etc. We at PaySpace work with different businesses, determining and providing the best possible payment solution for each of our customer.

With our help, you will be able to open a merchant account, get PCI DSS certification, use the most reliable security technologies, and choose something from a range of integration options. Our payment solutions allow you to get payments from all over the world in various currencies. We also have smart fraud and chargeback protection solution, which is really vital for any internet business to survive and remain profitable.  We have a range of contact methods that you can find on our website, and you can contact us without any problems to find out any information that you might need to know.