A web page that turns any computer into a card terminal, letting staff key in phone or mail orders. Because the card isn't present, these transactions carry higher interchange.
Why it matters for your business
Terms like Virtual terminal aren't just jargon — they sit behind what you actually pay to accept payments. Understanding them is the difference between reading your statement and being at the mercy of it. If you're not sure how this shows up in your own costs, the fastest way to find out is to have someone read your statement line by line.
See what you're really paying →Related — Processing & Technology