Sherilynn Gomes 24 May - 2 min read
In an ever-changing digital and retail landscape, Australians are fast embracing new digital payment technologies. As retailers adapt to the demand for contactless payment and effortless transactions, scanners and bulky EFTPOS machines are quickly becoming a thing of the past thanks to virtual terminals and new technology.
So, what is a virtual terminal? And should more businesses make the switch?
Put simply, a virtual terminal is a web-based payment terminal which enables you to use a device such as a tablet to process payments. It’s quick to set up and easy to use, eliminating the need for costly outlays on traditional retail hardware such as credit card terminals or bulky point of sale (POS) systems.
Using a portable device means you can quickly process payments anywhere and at any time – which can be especially helpful during high demand periods.
At Spenda, we offer a powerful and portable POS solution complete with a virtual terminal and an in-built card scanner which removes manual errors and speeds up the sales process. Because a virtual terminal relies on WiFi connection, it delivers the added benefit of knowing that you can always take a payment, even if your EFTPOS machine stops working and cash is not an option.
How Spenda’s virtual terminal will benefit your business
Virtual terminals are paving the way in contactless payments, providing businesses with an effective yet low cost means to get paid on time. So, whether you’re a local cafe, mobile vendor, retailer or online business, you can accept payments in-store, over the phone or online with ease.
Our virtual terminal uses the iPad’s camera to scan the card, helping to speed up the sales process and deliver a smoother payment experience for your customers.
Designed with an intuitive interface, the iPad based POS system makes it easy to process payments no matter where you are – in-store, at a farmers market or out in the field.
Reduce customer queues during peak shopping times. Thanks to the instantaneous nature of virtual terminals, you can process transactions quickly and easily anywhere in your store or on the go.
Virtual terminals use tokenization and encryption to protect your customer’s data, making them a very secure method of payment.
Make time-consuming tasks like account reconciliation a thing of the past. Every transaction will automatically update in your financial software or ERP management system in real-time, so you can always stay on top of your cash flow.
Contact us and learn more about how our payment solutions can help improve the way your business trades and gets paid.
The emergence of options such as buy now, pay later (BNPL) services was first introduced to business to consumer (B2C) transactions, giving customers the ability to access products and services they need today while paying at a later date or over a series of instalments.
As a supplier, wholesaler or distributor in the Fast Moving Consumer Goods (FMCG) sector, your business likely deals with a high volume of B2B payments.
E-invoicing has transformed how businesses send and receive invoices. It automates the exchange of invoice information directly between a supplier’s and a customer’s accounting software.
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