Congrats! You’ve finally set up your online store (are just about to do it) and are ready to receive your first sales dollars. As a responsible business owner, now you’re wondering how to choose an e-commerce payment gateway.
Square Virtual Terminal is a great option for businesses looking to accept credit card payments, but there are several other options for business owners to consider. Whether you’re looking for an affordable solution to accept credit card payments or a more sophisticated option to manage your online store, Square Terminal and its alternatives offer something for everyone. These alternative solutions can provide you with the necessary tools and features to ensure seamless payment processing and secure transactions.
Whether you’re looking for an all-in-one solution or just a specific feature, these solutions can help you take your business to the next level. Keep reading to learn more about the best Square Terminal alternatives for your e-commerce business.
Contents:
1. What is a virtual terminal for online businesses?
2. Square Virtual Terminal and why it’s so popular
3. Which factors to consider when choosing a virtual terminal
4. 6 alternatives to Square Virtual Terminal
What is a virtual terminal for online businesses?
A virtual terminal is an online system that allows businesses to process credit card payments from customers without a physical point-of-sale device. This technology has revolutionized the way businesses accept payments and has made it easier for customers to make purchases without having to carry cash. With a virtual terminal, all you need is an Internet connection and a web browser to securely process payments.
Virtual terminals are especially useful for businesses that don’t have a physical location or don’t want to invest in a physical point-of-sale device. Instead, they can use the virtual terminal to accept payments from anywhere in the world. The virtual terminal is also a great way for businesses to make sure their customers feel safe and secure when making payments online.
What are the benefits of using virtual terminal payments
So why are virtual terminals becoming increasingly popular for businesses of all sizes? They provide a secure and convenient way for merchants to accept payments from customers, enabling them to quickly process orders and payments without having to invest in expensive physical equipment.
Whether you’re a small business or a large enterprise, using a virtual terminal can help you save time and money. With a virtual terminal, you can accept payments from customers securely and conveniently, and manage your finances more efficiently. Plus, you’re gaining such things as:
- Better tracking by itemizing sales;
- Saving time by creating recurring payments;
- Reducing errors and discrepancies by adding taxes and discounts.
With all the advantages of a virtual terminal, it’s no wonder that more and more businesses are turning to this technology to help them stay competitive.
Square Virtual Terminal and why it’s so popular
Square offers a great service to get paid when your client isn’t there. It has a user-friendly UI and competitive pricing, works for businesses of any size, and comes with 24/7 support. On-demand analytics allow you to grow your business based on real data, plus, their data security is one of the strongest on the market, all of which makes Square a good choice.
Bonus points: Square has a great integration with one of the most popular accounting software systems — QuickBooks Online. Sign up for it here to get all sales transactions and Square fees instantly recorded in QuickBooks.
How to use and connect Square Terminal
Square Virtual Terminal is an easy and secure way to accept payments online.You can even use the terminal to process payments over the phone. Plus, it’s integrated with your business’s Square account, so you can easily track your sales and manage refunds.
All you need to do to use Square Virtual Terminal is to go through the following steps:
- Sign in to your Square Dashbord;
- Go to the Virtual terminal → Take a payment;
- Enter customer’s information;
- Add a note or description.
And that’s it!
Which factors to consider when choosing a virtual terminal
The virtual terminal is a powerful and versatile platform that offers businesses the ability to accept online payments and manage transactions. But when it comes to selecting the right virtual terminal for your business, there are several factors you should take into consideration.
From payment processing fees to data security and customer service, there is a plethora of factors to consider when selecting a virtual terminal, such as credit card processing, payment gateway integration, PCI DSS compliance, and customer support. With the right virtual terminal, businesses can provide customers with a secure and efficient payment experience, while also reducing the costs associated with payment processing.
But with so many options available, it can be difficult to know which virtual terminal is right for you. Let’s take a look at the most essential factors when choosing a terminal.
Monthly fees and total cost
Implementing a virtual terminal as a payment option is a great way for businesses to expand their customer base and increase sales. However, it’s important to understand the monthly fees and total cost associated with a virtual terminal before making a decision. Having a reliable, secure, and cost-effective payment processing solution is essential to ensure that your customers have a smooth and successful payment experience.
These fees can vary as there are many providers, and it’s in your best interest to compare them and find the one that best fits your budget.
Security
With the rise of cybercrime and data breaches, companies need to take extreme measures to ensure that their customers’ data is safe and secure when using their virtual terminal. But with the convenience of virtual terminals comes the risk of cyber security threats. This is why it’s essential to make sure that your virtual terminal is secure and that you have the necessary safety protocols in place.
Virtual terminal technology should provide a secure and reliable way to process payments online, and businesses should ensure they’re taking all necessary steps to ensure their virtual terminal is secure and compliant with the latest industry standards.
Features
Virtual terminals offer businesses a range of features to facilitate secure, efficient and cost effective credit card processing. From built-in fraud protection to enhanced customer convenience, they offer numerous features that help automate and streamline the entire payment process. That’s why it’s really important to understand your business needs so that you can look for specific features in the virtual terminal.
With a virtual terminal, you can easily and securely process payments without the need for any additional hardware or software.
6 alternatives to Square Virtual Terminal
Square Virtual Terminal is one of the most popular solutions, but there are many other options available. If you’re looking for a more tailored solution, or something with lower fees and more features, then you may want to explore the 6 alternatives to Square Virtual Terminal. These options offer a variety of features, including payment processing, automated invoicing, customer relationship management, and more. No matter what type of business you have, you’re sure to find a solution that’ll meet your needs.
1. Synder powered by Stripe
Synder allows you to instantly create payment links on your webpage without any coding skills required as part of its Synder Sync functionality. It’s a perfect option for a new website or a small business that wants to quickly start selling their products or services because it’s one of the most straightforward points of sale available on the market. One of the biggest benefits of Synder is its security, as all payments are processed via Stripe – one of the most secure payment providers on the market.
Starting to sell is also incredibly easy: all you need is a Stripe account. Any business can sign up for Synder (no credit card required), create a link to insert to their website, or simply send it to their customers. You can start accepting payments right away. In fact, you don’t even need a website – you can start selling off your Facebook or Instagram page.
Bonus points: Being directly integrated with QuickBooks Online, Desktop, and Xero, all of your sales data will be directly recorded in your accounting system in the background. Automated bookkeeping and instant payments, all with no coding fuss? Sign me up!
Where to start: Read about creating an instant checkout page here, sign up for Synder’s 7-day free trial, or book a demo with a specialist to get a guided tour.
2. Shopify Payments
Shopify, an e-commerce company, is in a league of its own. If you’re into design, you’ll love an online store you can build on their platform, full of templates and drag-and-drop options. You can accept payments in your preferred method (the majority of popular methods and local currencies are supported), which makes it a unique payment gateway. Security is great too, as Shopify is PCI compliant and supports 3D secure checkouts.
With Shopify Payments, merchants can quickly and securely accept payments from customers all around the world, helping to streamline their business operations and maximize their profits.
Bonus points: Although Shopify is one of the more expensive options on the market, if you’d like to invest in a diversified online store, it’s unbeatable. It’s perfect for larger businesses with large inventory.
3. PayPal Payments Pro
When looking for a virtual terminal, it’s likely that you don’t want your customers to use a PayPal account in order to pay you. In this case, PayPal Payments Pro, interestingly enough, could be worth considering. This credit card processing solution allows you to accept payments via credit and debit cards, and also via PayPal credit, topped up by the security that comes with PayPal technology.
PayPal Payments Pro offers straightforward pricing, which, however, might be too pricey for small businesses. But it does include APIs, online invoicing, easy cart integration, and phone-based credit card payments.
Bonus points: PayPal is a major player and therefore it also has a great integration with QuickBooks Online, like many other options on our list.
Authorize.net was launched way back in 1996 and is today owned by Visa. It’s a familiar name and popular option for many businesses across the US. It has a proven track record and many medium and large businesses choose it as their virtual terminal option.
While it was originally based on an older model of having a merchant account plus a separate payment gateway, if you choose to go with its All-in-One option, it won’t be much different from more popular modern options like Synder, Square or PayPal Pro. Going with this plan, you’ll create both a merchant account (different from your business bank account) and a payment gateway. If you do have a merchant account, you can sign up for a cheaper plan.
Bonus points: It’s a familiar name and many mid- and larger businesses will be comforted by working with a company owned by the industry giant Visa. Similarly to Synder, it includes free support from real people.
5. Clover
With Clover, businesses can securely accept credit cards, debit cards, and other forms of electronic payments. They can also track inventory, manage payroll, and keep track of customer data. Clover allows businesses to receive payments quickly and securely, helping them to increase sales and customer satisfaction.
Additionally, Clover provides a secure platform for businesses to process payments, eliminating the need for additional hardware or software. With its powerful features, Clover is the perfect solution for any business looking to streamline their operations and increase sales.
Bonus points: Clover offers a range of features that allow businesses to customize their payment processing experience, such as customized receipts, loyalty programs and more. As a result, Clover is becoming an increasingly popular choice for businesses looking for an efficient and secure way to accept payments.
6. Payment Depot
Payment Depot is a virtual terminal that provides businesses with a secure and convenient way to process payments online. With Payment Depot, businesses can accept payments from customers via credit cards, debit cards, ACH payments, and e-checks.
Additionally, Payment Depot is easy to use, with a simple and intuitive user interface, and it’s compatible with a wide range of e-commerce sales channels such as BigCommerce, WooCommerce, and even Shopify. Payment Depot is the perfect solution for businesses looking to quickly and securely accept payments online.
Bonus points: Payment Depot eliminates the need for traditional payment terminals and offers businesses a fast and reliable way to process payments. It’s ideal for businesses of all sizes, from small start-ups to large enterprises.
Summary
The virtual terminal is revolutionizing the way businesses operate, offering a convenient and secure way to accept payments from customers. By eliminating the need for physical terminals, virtual terminals offer businesses the opportunity to reduce costs and increase profits. With the ability to accept payments from anywhere, virtual terminals are becoming an increasingly popular choice for businesses looking to maximize their profits. Additionally, the added security features provided by virtual terminals can help to ensure that payments are processed safely and securely. With all of these benefits, it’s clear that virtual terminals can be a profitable choice for businesses.
We’ve covered 6 popular Square virtual payments alternatives that accept credit cards online. Most of them have a very similar pricing, live support and a proven security track record. You can make your choice by comparing the features covered, the ease of getting started, and the quality of support available. Good luck on your journey to generating larger online revenue!
