A Virtual Terminal is an online tool that lets you process payments securely without any extra hardware. It streamlines payment processing for call centers, remote businesses, and service providers. Below is a simple breakdown of the process, along with a comparison between a traditional Virtual Terminal and a Secure Virtual Terminal.
Step-by-Step Transaction Process
1. Start the Transaction: A call center agent opens the Virtual Terminal on a computer or mobile device. When a customer calls, they provide their card details over the phone.
2. Enter Payment Details: The agent manually enters the customer’s card information into a secure online form. WARNING: In a secure virtual terminal, customer card data is never exposed to your people, systems, or processes. As soon as the information is entered, it is immediately encrypted, ensuring that sensitive details are protected from the start.
3. Verify and Process: The system checks the card information and connects with the payment gateway to obtain a live authorization. This step confirms that the transaction is valid and secure.
4. Receive Confirmation: Once the payment is approved, both the agent and the customer receive instant confirmation. This immediate feedback creates a smooth and efficient transaction process.
Example Use Case
Imagine a call center agent working for an online retailer. A customer calls to place an order, and the agent quickly opens the Virtual Terminal. By entering the customer’s card details, the agent processes the payment in real time. Thanks to strong encryption and adherence to PCI DSS standards, the customer’s data remains secure throughout the call, resulting in a faster checkout experience and improved customer satisfaction.
Security and Compliance
Security is at the heart of Virtual Terminals. Key features include:
End-to-End Encryption: Sensitive card data is encrypted as soon as it is entered, ensuring it is protected during transmission.
Tokenization: Card details are converted into tokens so that the actual data is never stored or accessible.
PCI DSS Compliance: Virtual Terminals follow strict PCI DSS guidelines to minimize risks and ensure regulatory compliance.
Fraud Prevention: Real-time verification and secure processing help prevent unauthorized transactions and fraud.
Virtual Terminal vs. Secure Virtual Terminal
While all Virtual Terminals aim to provide secure payment processing, there are differences between traditional Virtual Terminals and their more secure counterparts:
Traditional Virtual Terminal: These offer a secure online interface for entering card details. They typically provide encryption and basic PCI DSS compliance. However, in some cases, the raw card data might still be accessible to the operator during the transaction.
Secure Virtual Terminal (e.g., Agent Capture Assist): Secure Virtual Terminals take security a step further. Advanced features such as channel separation and enhanced tokenization ensure that sensitive card data is never visible to the agent. This added layer of security minimizes the risk of data exposure and fraud, making it ideal for businesses that require the highest level of data protection.
Conclusion
A Virtual Terminal is a powerful tool for processing payments remotely, offering a straightforward and secure method for handling transactions. By understanding the step-by-step process and recognizing the benefits of a secure Virtual Terminal over a traditional one, businesses can choose the solution that best meets their needs.
Ready to transform your payment process? Discover how our secure Virtual Terminal solutions can help your business stay safe and efficient today!
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