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Virtual terminals are expected to be the number one tech trend for small businesses in 2022.
The “square virtual terminal” is a company that has created a new way to do business. It’s a virtual terminal, meaning you can use it from anywhere and your customers will never be able to tell the difference.
While ecommerce and internet buying have taken the spotlight, you may still need to accept orders over the phone or via the mail. When receiving phone or invoicing orders, a virtual terminal allows business owners to manually enter in credit card details. Virtual terminals that are effective for billing also allow you to send invoices and set up regular payments.
Virtual terminals that are secure and do not need any specific equipment are available from practically every payment processor. Transaction costs are typically 3.5 percent plus 10 cents to 15 cents each transaction, which is greater than in-person transactions.
The following are the finest virtual terminals:
- Square is the best virtual terminal for small companies with sporadic or consistent sales.
- Helcim: For shops, particularly those with high-volume, low-ticket sales, Helcim is the best choice.
- Depot for Payments is the most cost-effective alternative for high-volume, high-ticket vendors who are willing to pay a monthly charge in return for reduced rates.
- For B2B sales, Payment Solutions by Chase is the best option.
- PaymentCloud is the best option for high-risk companies.
- Data on the Payline: For medical enterprises, educational services, and organizations looking for inexpensive prices, this is the best option.
- Clover is ideal for companies who wish to pick and select their merchant service.
- PayPal is ideal for freelancers and tradesmen that want a simple system, as well as enterprises who do international transactions.
Comparison of the Best Virtual Terminals
*All costs for using the virtual terminal are included. To utilize the virtual terminal, Chase needs a Chase bank account, Clover requires a POS membership, and Payline charges an additional monthly cost for virtual terminal capabilities.
Invoicing and recurring payment features are included in all of our recommendations.
How Did We Assess Virtual Terminals?
We sifted through hundreds of payment processors that provided virtual terminals and selected the top 15 for virtual terminals. Following that, we examined the price, toolkit, and convenience of use. What you’ll discover here is the top of the crop, providing the finest value for the money while being simple to use on a daily basis for most managers and staff.
Square is the finest virtual terminal for small companies, according to our research. It outperformed the competition in terms of price and sales and inventory management. Its costs are greater than those charged by interchange-plus firms like Helcim, but it comes with free tools and the ability to scale with your business.
Please see the tabs below for a complete list of our assessment criteria:
30% of the overall score
Additional expenses for accessing the terminal, chargeback fees, and merchant accounts were also evaluated in addition to transaction fees. Square got the top spot for the greatest price since it does not charge a A monthly fee is charged. or chargeback fees, followed by Chase and Helcim.
25% of the overall score
Payment types, recurring billing, inventory and customer management, and chargeback protection are all covered in this section. Invoicing and chargeback protection were given more weight, which is why Data on the Payline and Depot for Payments received top marks. The most unique features were found in Square and PaymentCloud, earning them perfect marks.
25% of the overall score
Mobile applications, dispute resolution, and in-person payments were among the features we looked for. We also thought about when customer assistance would be available. While all of the services we reviewed are simple to use, Chase takes the top rank because of their 24/7 customer assistance.
20% of the overall score
This grade considers the whole usefulness of the product, from its pricing to its stability, account freezes, processing constraints, and if it connects with other programs. Finally, we incorporated feedback from real-life consumers. Overall, every product received good marks, with Depot for Payments receiving the lowest score of 4.06.
*Percentages based on total score
Square is the best virtual terminal in terms of overall performance.
Square
4.56 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 4.56 | OUT OF | 5 |
| Features | 5.00 | OUT OF | 5 | |
| User-Friendliness | 4.00 | OUT OF | 5 | |
| Expert Rating | 4.69 | OUT OF | 5 |
What We Enjoy
- POS functionalities are provided.
- There are no monthly costs.
- Disputing chargebacks is simple.
- It’s simple to expand into in-person sales.
What Isn’t There
- For high-volume sales, it’s too expensive.
- Does not allow high-risk firms to operate.
Pricing in Squares
- Fee per month: A monthly fee is charged.: $0
- 3.5 percent + 15 cents keyed-in or 2.6 percent + 10 cents each swipe transaction cost
- Fee for immediate payout: 1.5 percent
- There is no chargeback cost.
Features
- Free POS
- Invoicing is completely free.
- Appointments and payroll are examples of add-on services.
- Payments may be made in person, online, or with a QR code.
Square is a great option for small companies of all kinds, from hobbyists to shops with a physical presence and an online store, as well as restaurants and salons. There are a range of options available, ranging from a free POS to low-cost payroll processing. It incorporates the most areas of small company life—and does so well—of all the tools we’ve examined, both here and elsewhere. Square not only has the greatest virtual terminal, but it also has the best POS software, merchant services, salon and spa software, and mobile payment processing solutions.
With 4.56 out of 5 in our review, Square was well ahead of the pack in scoring. It topped our scores for feature set, checking off our full list of tools for handling one-time and recurring bills, managing customers and invoices, and taking payments. It’s Simple to use on both web and mobile, although the limited customer support hours brought down its score in User-Friendliness.
Pricing in Squares
The transaction cost, which is the highest on our list, is the drawback to Square’s vast feature set, particularly for firms that perform high-volume transactions. Compare prices with Data on the Payline, Depot for Payments, or Helcim, which all provide interchange-plus pricing, if you have consistent sales of above $5,000 per month. (Data on the Payline’s website provides a monthly calculator that you may use to rapidly compare prices.)
However, bear in mind all of the tools Square gives that you may otherwise have to pay for when calculating prices. You may request for reduced, personalized pricing with Square as your company develops and you handle more than $250,000 per year. The following are the normal fees:
- Transaction costs for keyed-in (virtual terminal) transactions are 3.5 percent + 15 cents.
- Transaction costs in person (swipe, dip, tap): 2.6 percent + 10 cents*
- Transaction costs on invoices: 2.9 percent + 30 cents
- Fees for online transactions: 2.9 percent + 10 cents
- Fees for ACH/bank transfers are 1% with a $1 minimum.
*When feasible, connect a card reader to your virtual terminal to take advantage of swiping cards.
Features that are square
Inventory, recurring payments, and receipts are all included in the virtual terminal. (Image courtesy of Squareup.com)
Square includes free POS software for managing inventory and customers that works in tandem with the virtual terminal, allowing you to categorize sales, compute taxes, apply discounts, and record client information. Unless you connect it to a POS system, most of the other virtual terminals on our list are more rudimentary, forcing you to manually enter the goods and prices. Chase, in instance, claims to be able to integrate inventories but does not provide a point-of-sale system.
The virtual terminal, like other Square products, is free, simple to set up, and straightforward to use. It’s also completely connected with Square, which means inventory is updated and changes in your web shop are mirrored in the virtual terminal. The information from the virtual terminal is also brought in if you interface with QuickBooks or other accounting applications. The free mobile app includes a card reader, allowing you to benefit from the cheaper in-person transaction rate.
Square distinguishes itself in chargeback protection by eliminating chargeback costs of up to $250 each month. Square does not collect fees, however third-party payment processors like PayPal or the banking institution in issue may. Data on the Payline and Depot for Payments both offer chargeback schemes that are similar.
What Square Isn’t There?
Even after accounting for POS software and membership fees paid by certain payroll providers, Square may be prohibitively expensive if you make high-volume sales. Data on the Payline, Depot for Payments, and Helcim are three companies to look at. Some companies provide free POS software with particular plans in addition to virtual terminals.
Square does not work with firms that are high-risk. If you run a high-risk firm, we suggest PaymentCloud. Check out our suggestions for more high-risk merchant account providers here.
Finally, you won’t be able to use Square if you already have a merchant account or payment gateway. Clover is your greatest bet in this situation.
Square should be visited.
Helcim: High-Volume Retail’s Best Virtual Terminal
Helcim
4.31 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 4.38 | OUT OF | 5 |
| Features | 4.25 | OUT OF | 5 | |
| User-Friendliness | 4.00 | OUT OF | 5 | |
| Expert Rating | 4.69 | OUT OF | 5 |
What We Enjoy
- Strong anti-fraud measures
- ACH (automated clearing house) transactions are accepted.
- Customer service is outstanding.
- There are no long-term commitments or monthly costs.
What Isn’t There
- For low-volume firms (under $5,000 monthly), it is too expensive.
- Accepts no high-risk merchants
Pricing at Helcim
- There are no monthly costs.
- Interchange + 0.3 percent + 8 cents are the transaction rates.
- There is no chargeback cost.–$15
Features
- Free POS
- Exceptional Prices
- ACH (automated clearing house) transactions
- Information from tokenized cards
Helcim is on our list of best merchant services and is No. 1 for best retail credit card services. Like Depot for Payments, it offers interchange-plus pricing. However, its structure is a little different, with a percentage-plus-flat-rate but There are no monthly costs.. As such, it’s a better choice for retailers that have high volume (over $5,000/month) but lower-ticket sales.
It received a 4.31 out of 5 rating in our review, although it was docked points for not catering to high-risk organizations (PaymentCloud can help with that) and a lack of 24/7 assistance. Despite this, Helcim received good marks in every category. Phone sales, invoicing, and recurring payments are all handled through the virtual terminal. Helcim, like Depot for Payments and Data on the Payline, offers chargeback refund.
Pricing at Helcim
Helcim, like numerous other payment processors on our list, charges interchange-plus fees. It does not, however, have monthly charges. Its transaction rates, on the other hand, are somewhat higher: 0.3 percent + 8 cents per transaction. For example, Depot for Payments charges a fixed fee of 7 to 15 cents each transaction. Helcim, on the other hand, is a better deal if your average transactions are less than $23, especially since there is no A monthly fee is charged.. (This is in comparison to Depot for Payments’s most affordable plan.)
In this review, we go through some of Helcim’s best features for merchants.
You may either type in a card payment or choose a customer’s card from your Helcim card vault. (Image courtesy of Helcim.com)
Features of Helcim
Helcim provides a simple virtual terminal for entering credit card information. You may also save it for later use. This feature is shared by all of the services on our list, although many of the ones we tested did not. You may quickly send invoices or set up recurring payments to automatically charge clients on a schedule of your choice, in addition to one-time purchases.
Helcim offers a free mobile app and POS system that can be used on any device. The virtual terminal is also compatible with any device, making it an excellent tool for accepting payments both on the sales floor and at the register. Finally, it allows ACH payments, which some of the payment processors on our list, such as Depot for Payments, do not.
Helcim tokenizes credit card information in the card vault, ensuring that sensitive card information never enters your system and that your clients’ information is kept safe. The platform is PCI-compliant, which is required by enterprises. You may be required to give compliance yourself in certain situations, such as with Payline’s Start Plan. Helcim’s Fraud Defender examines each transaction before it occurs and assigns a risk score. You may also program it to automatically reject transactions if the score falls below a specific threshold. Chargebacks aren’t always charged, and when they are, the fee is equivalent to PayPal’s.
What Helcim Isn’t Including
Helcim, unlike Square, does not seem to have inventory tied to its virtual terminal. It also isn’t as well-suited to high-risk organizations as PaymentCloud. You can’t utilize Helcim’s virtual terminal with another merchant account; instead, consider Clover.
Helcim has an application and approval procedure, same as other interchange-plus merchant services (including Depot for Payments). It’s intended for firms who already have a constant number of transactions. If you’re just getting started, you’ll probably want to use a solution that’s tailored to new companies, such as Square, which doesn’t need permission.
Pay a visit to Helcim.
Depot for Payments: The Most Cost-Effective Solution for High-Volume Sales
Depot for Payments
AVERAGE RATING: 4.14 OUT OF 5
| CRITERIA FOR RATING | Pricing & Contract | 3.38 | OUT OF | 5 |
| Features | 4.75 | OUT OF | 5 | |
| User-Friendliness | 4.50 | OUT OF | 5 | |
| Expert Rating | 4.06 | OUT OF | 5 |
What We Enjoy
- Money-back guarantee for 90 days
- All-in-one membership that accepts all forms of payment
- Integrates with point-of-sale and e-commerce software
- Has a free smartphone app and accepts payments in person.
What Isn’t There
- Only merchants based in the United States are eligible.
- A monthly fee is charged.
- ACH and e-checks are not accepted.
- There are no inventory or customer management solutions available.
Depot for Payments Pricing
- A monthly fee is charged.: $79–$199
- Interchange + 15 cents (Starter), 10 cents (Most Popular), 7 cents (Most Expensive) (Enterprise)
- There is no chargeback cost.
Features
- Virtual terminals to choose from
- Only-for-interchange price
- Our sales team will assist you in determining the finest terminals and POS systems for your company.
- Several integrations
If you do high-volume sales, then a payment processor with interchange-plus pricing can save you hundreds to thousands of dollars, even when considering a A monthly fee is charged.. Depot for Payments is our top pick for the cheapest credit card processing companies, and that includes virtual terminals.
We’ve also liked Depot for Payments for general merchant services and restaurant payment processing. While it does not work for high-risk businesses or businesses outside the US, it is worth considering for any business with high-ticket sales. It offers a choice of free third-party virtual terminals and makes our list on the strength of the payment processing.
Depot for Payments earned 4.14 out of 5 in our evaluation. The virtual terminals generally don’t include inventory or customer management—check Square for that. Like most on this list, it loses points for not supporting high-risk businesses. Depot for Payments lost the most points for its steep A monthly fee is charged.. However, chargeback protection is included in its membership price, and it fares well for ease-of-use, integrations, and reputation.
Depot for Payments Pricing
The best thing about Depot for Payments’s price is that there is no percentage markup. You only pay a flat fee of 7 cents to 15 cents per transaction, plus the interchange price that every processor charges. No other virtual terminal on our list does this. (Some, like Square, Chase, and PayPal fold the interchange charge into their rates.) If you process high-dollar-value transactions, you could save thousands of dollars. It offers a calculator to help you determine how much you’re paying.
The plans run from $79 to $199 per month, depending on your monthly processing, and the transaction fee goes down with higher plans. These are the highest A monthly fee is charged.s of any option on this list, but plans include a free virtual terminal and may include equipment as well.
Discover all the great features Depot for Payments has to offer in our review.
Depot for Payments Features
Depot for Payments offers several virtual terminals, depending on the plan you purchase. Shown here: Authorize.net. (Source: Authorize.net demo)
Unlike most of the products on this list, Depot for Payments does not have its own virtual terminal, but gives you a choice of several, depending on your plan. Usually, you get Authorize.net or SwipeSimple. For higher plans or specific situations, you may do better with PayTrace or NMI. Your sales representative will help you find the best one, along with POS software and equipment.
Because of the Virtual terminals to choose from (something you also find with Payline and Chase), the specific features will vary. However, Depot for Payments itself integrates with QuickBooks, POS systems, and other software. It reprograms your POS equipment for free.
We give Depot for Payments kudos for customer support. I sent a question via the contact form and got a call minutes later. The support person was friendly, helpful, and did not try to hard-sell me anything. Other FSB reviewers have had similar experiences, and the user reviews also call out the great service.
While we prefer Payment Solutions by Chase for B2B sales, Depot for Payments also offers credit card processing with Level 2 and 3 rates. It does this through PayTrace, and you need the $99 or $199 membership.
What Depot for Payments Is Missing
Unlike the virtual terminal providers on our list that have straight rates, Depot for Payments’s charges vary by interchange rate, which is determined by the financial institution issuing the credit. Thus, you may see variations in your credit card fees. This is also true with Helcim, PaymentCloud, and Payline. While the interchange-plus pricing model is a more affordable option for high-volume businesses, it makes the fees a little more unpredictable.
Depot for Payments itself does not have a virtual terminal, POS software, or inventory management. Rather, it integrates with third-party systems, some of which it may provide free with higher plans. Nonetheless, consider that you will need to pay for such software if you go with this provider. Naturally, for the best virtual terminal system with a POS, we suggest Square.
Visit Depot for Payments
Payment Solutions by Chase: The Best Virtual Terminal for B2B Sellers
Payment Solutions by Chase
4.13 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 4.38 | OUT OF | 5 |
| Features | 3.00 | OUT OF | 5 | |
| User-Friendliness | 4.75 | OUT OF | 5 | |
| Expert Rating | 4.38 | OUT OF | 5 |
What We Enjoy
- Funds are available the same day and the following day.
- In certain circumstances, rates may be negotiated.
- Other payment channels are not required if you employ a direct processor.
- International currencies may be accepted.
What Isn’t There
- Some services (Chase QuickAccept) are only available in the United States.
- Some initiatives need long-term commitments.
- Not all price information is available on the website.
Payment Solutions by Chase Pricing
- Per online transaction, 2.9 percent + 25 cents
- 2.6 percent + 10 cents each transaction (tap, dip, or swipe)
- 3.5 percent plus ten cents every transaction typed in
- Chase checking account (Chase Checking account required ($0–$15/month)–$15/month) is necessary.
- The chargeback cost is $25.
Features
- With the backing of a reputable payment processor
- Processes electronic checks
- able to accept foreign payments
- Account histories, split payments, and refunds
We recommend Payment Solutions by Chase (formerly Chase Merchant Services) for businesses that do B2B sales as well as for those that need the support of an established bank, including checking, credit cards, and even loans. Square now offers banking, but Chase has hundreds of years of banking history and 5,100 branches in over 100 countries. As the sixth-largest banking firm in the world, it has a lot to offer businesses looking to grow.
Chase earned a 4.13 out of 5 in our evaluation, coming in just below Helcim and Depot for Payments. Chase can work with some high-risk businesses where Helcim does not. Chase does not specialize the way PaymentCloud does, however, which is why PaymentCloud is best for high-risk. Chase also lost points for the chargeback fee (where Square waives it, for example).
You must also have a Chase checking account, which is one of our top recommendations for the best small business checking accounts. Chase, on the other hand, has a lot of good features, including the ability to sell internationally.
Payment Solutions by Chase Pricing
Chase provides payment processing for its business customers, so you have to start with a Chase Business Checking account. This comes with a $15/month fee unless you keep a daily balance of over $2,000, purchase over $2,000 on your Chase Ink business card, take in over $2,000 in deposits from Payment Solutions by Chase transactions, or link to a Chase Private Client checking account.
The transaction prices vary per platform, but they are 3.5 percent + 10 cents per keyed-in transaction for virtual terminals, which is significantly less than Square’s keyed-in rate.
There may be opportunity to negotiate better charges, as there is with PaymentCloud (and maybe Data on the Payline). Volume of sales and whether or whether you conduct B2B transactions, which are more secure and normally have cheaper rates, are two determining variables.
Get more details about what Payment Solutions by Chase offers for your business. Read our review.
You may store card information to use again using Chase’s Orbital Virtual Terminal. (Image courtesy of Chase.com)
Payment Solutions by Chase Features
Like Depot for Payments and Clover, you can have a choice of payment gateways, which means that, like Depot for Payments, you can also choose a different virtual terminal. However, Chase has its own—Orbital Virtual Terminal. It lets you process purchases and refunds. It also allows splitting of shipments, something we did not find in other virtual terminals, but which makes it well suited for sales that might need a deposit.
Chase supports Level II and Level III card processing, unlike many of the virtual terminals on our list. You’ll obtain better rates as a result of this. You could be able to handle foreign currencies and electronic checks, much like PayPal. This is something you should talk about while you’re setting up your account.
One benefit Chase offers over other merchant services is that you may obtain your cash the same or following day if you have a Chase bank account. Square will charge you extra for this, however PayPal will transfer money to your PayPal account instantly.
What Payment Solutions by Chase Is Missing
You may be required to sign a long-term contract, similar to Clover and PaymentCloud. This isn’t true in every scenario, but if you need month-to-month service, Square, which offers identical fees, is a good option. In addition, unlike Chase, Square does not need a bank account.
Chase does not have its own POS system like Square or Helcim, but it does interact with the majority of POS software. Card readers and POS terminals are available, some of which may be bought on Amazon and elsewhere.
Visit Payment Solutions by Chase
PaymentCloud: The High-Risk Business’s Best Virtual Terminal
PaymentCloud
4.10 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 3.25 | OUT OF | 5 |
| Features | 5.00 | OUT OF | 5 | |
| User-Friendliness | 4.00 | OUT OF | 5 | |
| Expert Rating | 4.38 | OUT OF | 5 |
What We Enjoy
- Working with high-risk companies
- Customer service is outstanding.
- Connects to inventories and customer relationship management (CRM).
- Strong anti-fraud software
What Isn’t There
- Not all CBD products are supported.
- The price has not been revealed.
PaymentCloud Costs
- No A monthly fee is charged.
- Customized transaction rates are available.
- There is no chargeback cost.
Features
- reoccurring sales, invoices
- Refunds and payments
- Processing of electronic checks
- Strong anti-fraud measures
PaymentCloud, like many of the virtual terminals on our list, also ranks well on other lists, such as the top merchant services. PaymentCloud, although it can service regular merchants, specializes in high-risk merchants, whether in areas like CBD sales or those with a higher risk of chargebacks, such as MOTO firms.
PaymentCloud takes security extremely seriously because of the nature of its clientele. It also doesn’t charge for chargebacks and collaborates with you to avoid or settle them. Because of this, as well as its extensive feature set, it received a 4.1 out of 5 rating in our review. The score was lowered due to non-transparent pricing and a lack of 24-hour customer assistance.
PaymentCloud Costs
PaymentCloud is the only virtual terminal on our list with no publicly available cost information. This isn’t surprising, however, since most high-risk merchant account providers don’t provide pricing because fees are tailored to each firm. PaymentCloud works with its bank partners to provide you the lowest rates possible, and there are no application, setup, or yearly costs.
PaymentCloud has a lot more to offer than what’s included here. In our PaymentCloud review, we explain why we recommend it for high-risk enterprises.
Recurring billing and invoicing are included in PaymentCloud. (Image courtesy of PaymentCloud)
Features of PaymentCloud
PaymentCloud’s virtual terminal is similar to the others on our list in that it accepts credit cards but does not allow you to ring up itemized sales. It may be used for invoicing as well as recurring sales. PaymentCloud, unlike the most of the virtual terminals on our list, is built to work with CRM applications like Salesforce.
PaymentCloud, like PayPal and Chase, accepts electronic checks as well as credit and debit cards. Instead of credit cards, several of the virtual terminals on our list, such as Square and Helcim, accept ACH transactions.
PaymentCloud works with over ten banks that specialize in high-risk consumers. When you join up, you’ll go through a step-by-step application procedure to ensure you have all of the necessary paperwork to be accepted by one of their partner banks. It may take longer than other sign-up-and-go virtual terminals like Square or PayPal, but that’s due to the nature of being a high-risk company.
PCI compliance, fraud prevention, data encryption, and several security verifications such as Visa 3D Secure, Mastercard SecureCode, JCB International J/Secure, and American Express SafeKey are all available with PaymentCloud.
What PaymentCloud Isn’t Doing Right
PaymentCloud does not have a POS system, unlike many of the virtual terminal providers on our list, but it will interface with one. Its cost is opaque, so you’ll have to contact and fill out an application.
Pay a visit to PaymentCloud.
Data on the Payline: Best Virtual Terminal for Medical, Nonprofit & Educational Services
Data on the Payline
3.84 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 3.63 | OUT OF | 5 |
| Features | 4.75 | OUT OF | 5 | |
| User-Friendliness | 2.75 | OUT OF | 5 | |
| Expert Rating | 4.38 | OUT OF | 5 |
What We Enjoy
- Includes a smartphone app and payment processing in person.
- There are no charges for chargebacks.
- The first three months are free.
- Additionally, he deals with high-risk individuals.
What Isn’t There
- There are no inventory management tools available.
- It’s difficult to discover information on a problematic website.
- There will be no overseas sales.
Pricing by Payline
- A monthly fee is charged.: $20 (online), $10 (in-person)
- After a one-time cost, the terminal fee is Terminal fee: $0/month after a one-time fee each month.
- Interchange + 0.2 percent + 10 cents for in-person transactions
- Interchange + 0.4 percent + 20 cents for card-not-present transactions
- Medical transaction fee: interchange + 0.2 percent + 10 cents
- Nonprofit, educational transaction fee: interchange + 0.1 percent + 10 cents
- Fees for high-risk transactions: Interchange + 1%
- Monthly minimum transactions: $25
- The chargeback cost is $25.
Features
- Tools that are HIPAA-compliant
- Dispute Resolution Tools for Verifi Cardholders
- Certain sectors have special rates.
- Invoicing and recurring payments
Data on the Payline services a wide range of businesses but has a particular focus on the medical industry, with Tools that are HIPAA-compliant, ACH transfer, and special pricing. It also has special considerations for nonprofit and educational services. Like Depot for Payments, Payline also offers strong fraud and chargeback protection.
With 3.84 out of 5 in our evaluation, it earns much of its score on the strength of Payline as a payment processor. While the virtual terminal works as well as most and can handle invoices and recurring payments, it is not as fully featured as Square or Clover. It incurs a A monthly fee is charged. but offers interchange-plus pricing, which makes it a better deal than most for high-volume businesses.
Pricing by Payline
Payline has a A monthly fee is charged. in return for which it offers low interchange-plus pricing. The fees run $20 for online transactions and $10 for in-person transactions. The virtual terminal has a one-time fee, after which it costs nothing. Payline has a free one-month trial.
For online and virtual terminal sales, it charges interchange + 0.4% + 20 cents. (Compare this to Depot for Payments, which has only a 7 cents to 15 cents transaction fee but a higher monthly membership.)
Payline, on the other hand, distinguishes out due to its customized pricing for medical facilities, nonprofits, and educational institutions.
- Medical transaction fee: interchange + 0.2 percent + 10 cents
- Nonprofit, educational transaction fee: interchange + 0.1 percent + 10 cents
Features of the Payline
Payline’s virtual terminal is available on the web and on mobile devices. (Paylinedata.com is the source.)
Payline’s commitment to medical, charity, and educational services extends beyond low pricing. To secure patient data, the virtual terminal is HIPAA-compliant, something we didn’t observe in other virtual terminal software. It also includes software for invoicing. The ACH transfer function, which is not present in most terminals, may help nonprofits and educational programs. Nonprofits may also take advantage of a free hosted payment page.
Verifi is used by Payline to prevent chargebacks. It notifies you to chargebacks quicker and offers you 72 hours to settle the dispute before it becomes a chargeback, in addition to providing data to assist you detect fraudulent transactions.
The Data on the Payline website says it provides payment processing for high-risk businesses; however, according to a Payline rep, it actually refers high-risk merchants to PaymentCloud, which is on this list. It adds a 0.1% per transaction fee for high-risk charges.
Data on the Payline offers virtual terminals through CardPointe, NMI, Transax, and Authorize.net. All provide tokenization and PCI compliance. Some offer customer management and allow for subscriptions, recurring payments, and electronic invoicing.
What Payline Is Currently Unaddressed?
International sales are not handled by Payline. Consider PayPal or Chase for this. It also doesn’t take care of inventories. For this, look at Clover, Square, or PayPal.
Its customer service hours are limited: Monday–Friday, 8 a.m.–5 p.m. Central time. There is no online help other than a small FAQs page with no how-to tutorials. We were able to contact Payline customer service and sales people with relative ease.
Pay a visit to Payline.
Clover is the best virtual terminal for selecting your own merchant service provider.
Clover
3.73 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 3.25 | OUT OF | 5 |
| Features | 3.25 | OUT OF | 5 | |
| User-Friendliness | 4.00 | OUT OF | 5 | |
| Expert Rating | 4.69 | OUT OF | 5 |
What We Enjoy
- Works with a number of different merchant accounts
- In the event of a data breach, you’ll be covered for $100,000 in liabilities.
- Simple to use
What Isn’t There
- Hardware that is linked to the customer’s account
- Clover subscription is required.
- Contract quality varies due to a lack of monitoring of third-party resellers.
Pricing for Clover
- $39.95/month (no hardware)—$9.95/month (no hardware)
- Payment providers have different transaction rates.
- Chargebacks differ depending on the payment source.
- Clover systems may be priced differently by certain merchant providers.
Features
- Integrated with the POS system
- Providers of merchant services
- CRM integration is available.
Clover is a highly popular POS system because it’s offered by so many merchant services. As such, you can shop around for the payment processor that works best for your business. In fact, Depot for Payments on our list offers Clover products. You’ll find Clover on our list of the best mobile payment processors and best POS systems. Clover’s systems come with a free virtual terminal.
Clover rated 3.73 out of 5 on our rubric. It’s a feature-rich system and, with the right merchant service, extremely affordable. It lost points for not accepting ACH payments or monitoring its resellers, so you get a mix of great and terrible. However, the virtual terminal integrates with the POS system, handles invoices and recurring payments, and is generally Simple to use.
Pricing for Clover
Clover has hundreds of resellers, many of whom offer reduced or even free Clover systems, making cost difficult to nail down. The transaction rates differ in a similar way. POS charges range from $9.95 to $39.95 per month, depending on the system, plus transaction fees of 3.5 percent + 15 cents for keyed-in transactions, which are comparable to Square.
Clover’s virtual terminal is free, but you’ll have to pay for keyed-in rates. (Image courtesy of Clover.com)
Clover Characteristics
Clover, like the other virtual terminals on our list, may be accessed through the web from any device and used to process payments or refunds right away. Unlike Square and Helcim, which take ACH payments, and PayPal and Chase, which accept e-checks, it exclusively accepts credit or debit cards. You may request payments through email and accept payments online, much like PaymentCloud.
Clover is unique in that you can use its virtual terminal with hundreds of different payment providers. (Chase and Depot for Payments, on the other hand, require you to use them as a merchant service and select a virtual terminal.) Like PaymentCloud and Chase, Clover can integrate with some CRM software, like Zoho.
Clover provides needed security features like AVS and CVV recording, PCI compliance, and some fraud tools. You can store card information on your system for recurring transactions. Any other fraud protection is dependent on the merchant service. However, it does offer In the event of a data breach, you’ll be covered for $100,000 in liabilities., something we did not find with any other virtual terminal provider.
What Clover Isn’t Giving You
It’s worth noting that the majority of Clover complaints are about the payment processor rather than the terminal or the Clover infrastructure. Clover does not supervise its resellers, so doing your study is critical. Many may entice you with free systems in exchange for long-term contracts that are costly to terminate. While this isn’t true with virtual terminals, Clover systems are tied to your merchant service, so if you switch providers, you’ll have to switch hardware as well.
Pay a visit to Clover.
PayPal: Best Virtual Terminal for Individual Operators & Occasional Sales
PayPal
3.53 OUT OF 5 STARS FOR THE OVERALL PERFORMANCE
| CRITERIA FOR RATING | Pricing & Contract | 2.38 | OUT OF | 5 |
| Features | 3.25 | OUT OF | 5 | |
| User-Friendliness | 4.25 | OUT OF | 5 | |
| Expert Rating | 4.69 | OUT OF | 5 |
What We Enjoy
- Payments are accepted in over 200 different currencies.
- There are no requirements for minimums.
- Accepts Bitcoin as payment
- Simple to use
What Isn’t There
- Terminal has a A monthly fee is charged.
- Payments for big volumes may be put on hold.
- Fees for overseas transactions might be complicated.
PayPal Charges
- A monthly fee is charged.: $30
- Fee for using the Virtual Terminal: 3.09 percent plus 49 cents in USD; various fixed costs for other currencies (3.5 percent for American Express)
- Charity prices for Virtual Terminals: 2.39 percent plus 49 cents in USD; varying fixed costs for different types of virtual terminals
- Standard credit and debit card payments are 2.99 percent + 49 cents in USD; various currencies have varying fixed rates.
- 4.49 percent plus 30 cents for USD; various fixed fees for other currencies
- Fee for chargeback: $15
Features
- Processing of cryptocurrencies
- Payment processing and currency conversion on a global scale
- Hundreds of POS and third-party payment systems are supported.
PayPal is by far the most well-known payment processor, with simple interfaces that allow you to place a payment button almost everywhere. It hits our listings for merchant services and mobile credit card processing. PayPal may be used by anybody, however PayPal Payments Pro allows you to accept credit cards and includes a virtual terminal.
With the PayPal virtual terminal, you have immediate access to your money via your PayPal account, which, although not as simple as a conventional bank account, is still quicker than any of the other virtual terminals on our list, including Chase. It can also process transactions in a variety of other currencies, including Bitcoin.
We awarded PayPal’s virtual terminal a 3.53 out of 5 star rating. It’s a simpler tool than Square, missing inventory and point-of-sale capabilities, but you can obtain them for free if you have a standard PayPal account. Its worldwide reach and many interfaces with other popular small company software give it an edge. Although its dispute management program is good, it gets a major blow for not processing ACH payments or having chargeback protection. PayPal does not cooperate with high-risk enterprises in general.
PayPal Charges
PayPal’s Payments Pro service costs $30 per month for usage of the virtual terminal. When compared to Square, which provides identical (POS, payment processing) facilities for free. However, Square has a greater transaction rate.
For keyed-in transactions on the virtual terminal, it charges 3.09% + 49 cents. The rates are higher than Payline, Depot for Payments, or Helcim, which offer interchange-plus pricing.
International payments are processed via PayPal, and the rates are different. For additional information, see the price page. Nonprofits are eligible for discounts.
For more information on PayPal’s comprehensive range of features, see our PayPal review.
On a desktop or mobile device, you may utilize the terminal to issue invoices. (Image courtesy of PayPal)
Features of PayPal
When you join up for PayPal, you get a bunch of free tools, such its POS software, Zettle, and its mobile app, much as when you sign up for Square. It’s also really simple to integrate a PayPal button into online shops, social media, and other places. It also offers an app that allows users to make payments instead of paying in full. When combined with PayPal Payments’ virtual terminal, you have a system that can accept payments in any currency and via any venue.
It’s a simpler terminal than you can find with Square or some of those offered by the interchange-plus pricing services like Depot for Payments, Payline, or Helcim. It also does not seem to integrate with PayPal’s POS solution, limiting its ability for inventory tracking or itemizing sales. However, you still have access to these tools through PayPal and a multitude of other third-party apps.
PayPal’s worldwide reach—200 currencies, with an international exchange—and the speed with which you can access your cash are, of course, two of its assets. You may utilize your winnings in minutes if you have a PayPal account or a credit card. It takes four or more working days to transfer money to your bank. In comparison, Chase accepts international payments and may deposit monies into your Chase account the same day or the following day.
What PayPal Isn’t Providing
Users have complained that PayPal is fast to hold cash it considers suspicious, such as if you have a rapid rise in sales or make much more than your normal sales revenue. It’s also been notorious for freezing accounts without notice, which may be fatal for a company that relies completely on PayPal for payment processing.
PayPal charges nearly 50 cents per transaction in addition to the percentage. If your sales are generally small and frequent, you may find this more expensive than Square, and for high-volume sales, you’ll probably benefit from an interchange-plus payment processor like Helcim, Depot for Payments, or Payline, who all charge a A monthly fee is charged. as well but offer much lower rates.
PayPal may be found here.
Conclusion
Virtual terminals are a great addition to any business, allowing you to take orders over the phone or by email. Most payment processors offer these for free or with a small A monthly fee is charged.. The best handle multiple payment types, including cryptocurrency and ACH transfers, and have some form of fraud or chargeback protection that goes beyond PCI compliance.
Overall for small businesses, we like Square. It provides reasonable rates, has a free POS system and a virtual terminal, and is super Simple to use. Plus, its wide range of products, including payroll, makes it a solid choice for growing businesses. Best yet—it’s free to use! You only pay a by-transaction rate. Sign up for Square today.
Square should be visited.
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In 2022, virtual terminals will be the most widely used device for small businesses. Omniflex is a virtual terminal that has been designed to provide the best possible experience for users. Reference: virtual terminal omniflex.
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