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A virtual terminal is a software application (often a web application) for merchants which allows them to accept payment with a payment card, specifically a credit card, without requiring the physical presence of the card (“card not present transaction”).
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
Square Terminal features a display, prints receipts, and accepts chip, swipe, and contactless payments. [42] Unlike the basic card reader, it does not require a phone or tablet. It is more affordable than Square Register. It was designed to replace the older credit card terminals encountered in many stores.
A key feature of the solution platform beyond payment acceptance is Payanywhere Inside, an online merchant portal that enables businesses to access reporting, manage employee permissions, accept phone and online payments via a virtual terminal, send and manage invoices, take action on chargebacks, and access additional business management tools ...
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Unlike traditional point-of-sale setups, virtual POS systems eliminate the need for dedicated hardware, relying instead on software and internet connectivity. These systems are widely used across industries, from small businesses to global retailers, to streamline transactions and integrate with broader business operations with broader business operations.