The definition of a virtual POS (point of sale) terminal is an automated payment system that allows customers to purchase goods or services at a retail location by entering their payment details into the terminal. Customer data is then encrypted and stored securely in the cloud instead of on-premises hardware. Virtual POS terminals offer more convenience, security and flexibility than traditional point-of-sale terminals, allowing retailers to offer a wider range of payment options and better customer service. In addition, these terminals can be used for both physical and online stores. It’s also possible to integrate them with e-commerce websites or mobile apps so customers can make purchases from anywhere in the world.
Virtual POS terminals offer many advantages for retailers, including flexibility, convenience and security. For example, they allow businesses to accept multiple payment methods from customers such as debit cards, credit cards and digital wallets. This provides customers with more payment options and increases the likelihood of a successful sale. In addition to offering more payment methods, these terminals provide secure and seamless payment processing. All payments
are handled securely, meaning customers’ personal and financial information is always kept safe.
A virtual POS terminal is a web-based program that allows you to process electronic payments by phone, mail, fax, email or in person, similar to an online payment form. You can turn any existing desktop, laptop, smartphone or tablet into a POS system without having to buy or install additional hardware or software. You can attach a card reader to a computer via USB input for personal payments, although it is optional. Credit card processing in a virtual terminal is available to you if you have a merchant account with a payment gateway, an internet connection and a web browser.
Compared to typical offline payment methods, the virtual POS terminal has several features that make it more flexible.
The typical physical POS terminal is a device that can develop flaws even if it is just dropped. And in many cases a technician or even a replacement terminal is needed. Since there is no physical hardware, the virtual POS terminal cannot fail. Its maintenance is done centrally, eliminating the need to wait for an actual repair in the shop. In addition, the virtual POS terminal is continuously updated, supplemented with new features and improved to quickly meet all payment requirements.
Today, selling on digital platforms means providing your customers with multiple payment alternatives. While some digital alternatives to cards are available at physical terminals, such as Alipay and WeChat Pay, the number of options available online is growing rapidly. Hundreds
Alternative payment methods are widely used in Italy and worldwide. They are increasingly preferred over more traditional means. Either because they have become mainstream in a region, or because they are better suited to certain needs.
One of the advantages of a virtual POS terminal is that it can be accessed at any time, from any location and from any device. These days, shopping is gradually losing the distinctive characteristics of traditional establishments. The user expects to be able to switch between physical and digital contact points. The virtual POS terminal has the huge advantage that it does not require the actual presence of the customer in the establishment. Customers are increasingly looking for a buying experience that combines the benefits of the real and online worlds, especially in the current climate.
The use of a virtual POS terminal is extremely efficient, but not a mandatory solution as many POS also have support for this feature. ConnectPOS has a methodical backup feature for this terminal so users can contact their support team for more details.