Whatever the reason for your wanting to accept card payment over the phone, being able to offer it can help make that extra sale or help your cashflow.
However, traditional banks have become adverse to this type of card payment. Seeing it as high risk of card fraud.
However it is possible to accept card payments over the phone, you need what is known as a virtual terminal.
What is a Virtual Terminal
A virtual terminal is a product that allows you to take payments via a portal on your computer. Your computer acts as the card terminal, dialling up over the internet to take the money from credit card company.
You simply need to ask your customer for their card information:
- card number
- expiry date
- security code
You then key this into your virtual terminal and charge their card.
How Do You Get a Virtual Terminal
The easiest way to accept card payments over the phone is to use your computer. But given the risks associated with handling cards in this manner there are a limited number of Companies offering this service. There are card processing charges associated with taking payments in this way (much like if you took a payment face to face).
The most important thing to look out for is that you choose a reputable card processing company, that is PCI DSS compliant. The PCI DSS are the authorities responsible for making sure anyone taking credit card transactions do so safely and securely.