4 Best Virtual Terminals for Credit Card Processing of 2021

Every business needs to accept credit and debit cards for transactions. Thus, when you are selling products and services for a business, you must have a virtuous credit card processor, but choosing a credit card processing company is difficult these days. And not all credit card processors are the same, we all know that a bookstore and a million-dollar eCommerce platform are not using the same service.

These credit card processing companies are crucial for every business transaction, whether it’s online and offline. However, the best ones make everything easy and simple to accept payment online, either via mail payment request or directly from a website. And the ability to accept credit cards can make or break your business, so choose the credit card processing company wisely.

If you are looking for an answer, how virtual terminal credit card processing helps? Here we have come up with some useful information for you:

There are hundreds of choices available. We put so much time into researching credit card processing companies, by keeping four things in our mind – pricing, reliability, processing fees, and ease to use.

Here we have our recommendations for credit card processing companies-

1. Square

This is one of the best terminals available out there. It’s easy to use, reliable, and has no monthly fees to pay, which makes it affordable to small size businesses. You can create your online store by using Square for accepting payments. Its virtual terminal fees per transactions are as follows:

  • 9% + $0.30 for ecommerce transactions
  • 5% + $0.15 in card not available transactions
  • 6% + $0.10 for POS

One more pro of this terminal is its ability to be paid fast. When other companies took a couple of days for withdrawals, Square does it in a next business day

You can accept all major credit card payments with Square. Not only this you can also accept payment via mobile wallets like google pay and phone pay, but you can’t be able to accept payments via PayPal.

2. Payline

I am sure you haven’t heard about them, but trust me they will meet all the needs of small business owners, enterprises, and will offer fantastic services to them. They provide a wide range of solutions for eCommerce, mobile and in-person payments. Payline is the best option to choose when you are in a high-risk merchant category.

Unlike Square, Payline is not free, it costs you a monthly fee of $20 to use its all virtual terminal tools. In this monthly plan, you have to pay 0.4% + $0.20 per transaction. Payline data charges no cancellation fees, however, they are focused on the payment service rather than POS features, which you can see in Paypal and Square. Its prime features are next-day deposits, recurring bills, ACH payments, and invoicing.

Customer support is their key factor, they are very quick in response but only available Monday to Friday from 8 a.m. to 5 p.m. And after this time you have to submit a ticket and they will respond to that quickly.

3. PayPal

PayPal is the crocodile among all the fishes in virtual terminal companies for a decade. It is mainly known for P2P payments, which means splitting a bill between your friends to pay rent. You can accept both online and in-person payment through PayPal, it’s a great choice, I will recommend it for low-volume businesses to be paid online.

PayPal virtual terminal is costly because you have to pay $30 per month, you only choose it when you are accepting phone orders above $100 each. In addition to this, you have to pay per transaction as:

  • 5% + $0.15 for every manual entry
  • 9% + $0.30 for online payment and invoicing
  • 7% for mobile and in-store payments.

You have one more advantage, which gives the ability to add a “Pay by PayPal” button on your website to accept online payments. With PayPal, you can accept Visa, Mastercard, Venmo, American Express, and PayPal credit.

4. Stripe

Stripe is one of the top choices for those who accept online payments. I recommend it first when you are seeking the best payment method for your eCommerce site. It is mainly built for developers and has its own fraud protection system, which will help you to manage and avoid eCommerce chargebacks.

You don’t have to pay any monthly fee, you just have to pay for-

  • 9% + $0.30 for online transactions
  • + 1% on international transactions
  • + 1% on currency exchange
  • 7% + $0.05 on in-person payment

Honestly speaking, it is fully technical. Thus, for the companies who don’t have developers in their staff, it can turn out as a drawback for them.