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Virtual terminal credit card processing is nowhere near as complicated as its name may make it sound. This form of payment processing is growing in its reputation for being conducive to faster revenue growth and making brands more attractive.
Regardless of the concerns you have, there is a virtual terminal solution out there for you. All you need is to follow three basic steps to implement the solution and enjoy the benefits offered by virtual terminals.
1. Learn the basics
As the name implies, virtual credit card processing takes place in a cloud-based system and largely runs independently of hardware. This makes shifting the technology you currently use into the cloud the most logical place to start. In doing so, you will immediately be able to better store sales data and guarantee its security.
Virtual credit card processing allows you to expand operations into new channels which are accessible around the clock. Customers can interact with your products and services when it is most convenient, even placing and paying for orders online in the middle of the night. Adding the ability to accept virtual payments will speed up the transaction process, giving you and your employees the ability to serve more customers and with a higher quality of service.
But upgrading your business technology to align with the requirements and capabilities of virtual terminals will also need to include an upgrade in the way you think about your business. When examining your business practices, consider options like QR codes and tablets. Would QR codes give customers more confidence in your ability to process transactions or will giving employees a mobile device add accuracy and speed to the customer service they provide?
These considerations are invaluable and will lend a hand to promoting your business and improving margins.
2. Bring these concepts to life
The point of sale (POS) technology that drives the ability to implement virtual credit card processing will bring several modern business concepts to life within your business. For secure transactions and safe storage of and access to sales information, your POS sends data management from the computer in the backroom into an accessible web-based repository. This makes data safer and easier to access and allows you to better manage business finances, staff payroll, and inventory controls.
Online ordering and booking websites will directly benefit from the technology used in support of virtual credit card processing. Ideally, these will come in the form of a customizable website or an appointment booking template by your POS provider which integrates directly into your POS solution. With these new channels, you can easily accept payments via the virtual terminal you have installed as part of your updated POS technology.
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Choosing to offer virtual credit card payments gives customers more control over their experience with your brand. They can make appointments at their leisure or determine exactly how and when they want to pick up their takeout order. Delivery becomes highly customizable, and in-store interactions are streamlined to maximize the quality of personalized service your staff is now empowered to provide to every customer.
3. Introduce the new you to customers
The cloud-based features you have through modern POS technology often include a virtual terminal which is a natural extension of your brand to the virtual neighborhood and beyond. No longer regulated to local or social media advertising, or the constraints of operating hours, potential customers can find you through a variety of channels. Third-party delivery apps that integrate into your virtual terminal or a simple Google search can both bring customers to your now thriving virtual doorstep.
Continue building on your virtual progress by maintaining your online presence through your branded website and additional third-party partners. This will ensure your customers can reach you and know what you can offer them with your payment options.
Virtual terminal credit card processing can take you places
The addition of a virtual terminal will offer customers more than just quicker or easier checkouts. It offers them new ways to interact with your business. Virtual terminals also offer them the perfect blend of inventory and services, thanks to the advanced data management functions that come with the supporting POS technology. These broaden the reach and reputation of your brand while empowering your staff to improve their customer service.
Partnering with talech when adding virtual terminal credit card processing to your business will offer you a modern POS solution with intuitive technology and quality customer service. You will gain a business consultant that helps you eliminate processes that are no longer effective while streamlining the ones you need. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.
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