The most common term is “virtual TPE”, but if your interlocutor is frowning, you may prefer virtual payment terminal. Let us first give the simplest possible definition of these two synonyms:
Virtual Payment Terminal
Software allowing a merchant to manually enter a customer’s bank card data, to settle a transaction. We cannot therefore speak of a virtual TPE when the customer himself enters the information on an online payment module. Virtual terminals are used when the customer is not present, for example, when ordering by telephone. A virtual terminal usually uses a web interface, but one could also use a smartphone application, with a distance sales contract.
Virtual TPE using a web interface
It is the virtual terminal that we think of most often. It consists of a simple input zone present on a web page. It is a kind of online TPE. It may be software intended solely for this purpose, which does not require prior possession of an e-commerce site.
You can also use certain payment platforms present on E-commerce sites if they have a VPC (Mail Order) option. In this case, the merchant unlocks the classic payment module to switch it to manual mode. This is, for example, possible with the PayZen payment module, or that of Monetico Paiement, of Crédit Mutuel-CIC.
Alternative to virtual TPE: Distance Selling on a Physical Terminal
It may be surprising, but a physical payment terminal of the Ingenico or Verifone type can be used for distance selling as with a virtual terminal. Sometimes customers are reluctant to complete the card payment form on a website because they do not know who the merchant is. By accepting Mo / To payments, you establish a direct link between you and your buyer, so they know the money is going to the right person.
The Cardinity virtual card terminal is quick and easy to use. You do not need expensive resources or special installation – no software to install. You will be able to follow all your transactions on your own Cardinity account.
The Cardinity Virtual Terminal allows you to debit the most popular credit / debit cards in the world. Receive orders on your computer, phone, or tablet, wherever you are. You can also use our virtual terminal for orders placed in person (at conferences, for example). All you need is an internet connection.
A virtual terminal is an online version of a physical card terminal. It is a software application for card less transactions where merchants can enter their customers’ credit / debit card data and charge them for products or services.
Moto payments are used for Mail Order/Telephone Order. It is a type of card-not-present payment which means that a customer may phone/email the merchant, place an order, and pay by providing the payment card details over the phone or by email.
Yes. These are joint limits covering the MO/TO transactions processed through the MO/TO Virtual Terminal in my POS web account, via my POS mobile app and on my POS devices taken in total. You will be held liable for financial losses because of the eventual disputes that follow. You should therefore always undertake thorough research of your clients and the source of the card information. It is crucial that you always check the source of the card information before processing MO/TO payments.
Rolling Reserve is a security measure applied by my POS on all MO/TO transactions as they are considered “risky transactions”. Risky transactions are typically transactions that are executed without the physical card being present. The transactions are, therefore, more likely to be fraudulent, can be disputed by the card holder and lead to charge backs.