In today’s digital-first economy, businesses need flexible and secure payment processing solutions. A virtual payment terminal allows merchants to accept payments remotely without needing a physical card reader.
Virtual Payment Terminals: The Best Solutions
Whether you run an eCommerce store, a service-based business, or a retail shop, choosing the right online payment terminal can streamline transactions and improve cash flow.
In this article, we’ll explore:
What a virtual payment terminal is
Top options like Square Virtual Terminal
The best payment system for small business
Key benefits of using a virtual terminal online
What Is a Virtual Payment Terminal?
A virtual payment terminal is a web-based system that lets businesses process credit and debit card payments through a computer or mobile device. Unlike traditional POS systems, it doesn’t require a physical card reader—merchants can manually enter card details or send payment links to customers.
Key Features of Virtual Terminals:
✔ No hardware needed – Process payments from any device with internet access.
✔ Manual card entry – Accept payments over the phone or via email invoicing.
✔ Secure transactions – PCI-compliant encryption protects sensitive data.
✔ Recurring billing – Set up subscriptions or installment payments.
Top Virtual Payment Terminals for Small Businesses
1. Square Virtual Terminal
Best for: Small businesses, freelancers, and service providers
Pricing: Free to set up, 2.6% + 10¢ per manually entered transaction
Why it’s great:
No monthly fees
Integrates with Square POS and invoicing
User-friendly dashboard
2. PayPal Virtual Terminal
Best for: Online businesses and international transactions
Pricing: 2.9% + 30¢ per transaction (monthly fee may apply)
Why it’s great:
Trusted brand with fraud protection
Works with PayPal invoices
3. Stripe Terminal
Best for: E-commerce and subscription-based businesses
Pricing: 2.9% + 30¢ per transaction
Why it’s great:
Developer-friendly API for custom integrations
Supports recurring payments
4. Clover Virtual Terminal
Best for: Retail and restaurant businesses
Pricing: Custom pricing (varies by plan)
Why it’s great:
Integrates with Clover POS systems
Advanced reporting tools
5. Authorize.Net
Best for: High-volume businesses needing robust security
Pricing: $25/month + 2.9% + 30¢ per transaction
Why it’s great:
Advanced fraud detection
Works with multiple merchant accounts
How to Choose the Best Payment System for Small Business
When selecting a virtual terminal online, consider:
✅ Transaction Fees – Compare flat-rate vs. interchange-plus pricing.
✅ Contract Terms – Avoid long-term commitments if possible.
✅ Integration – Does it work with your existing accounting or CRM software?
✅ Security – Look for PCI compliance and fraud prevention tools.
✅ Customer Support – 24/7 support can be crucial for resolving payment issues.
Final Thoughts
A virtual payment terminal is a must-have for businesses that accept phone, email, or recurring payments. Square Virtual Terminal is an excellent choice for small businesses due to its affordability and ease of use, while Stripe and PayPal are better for eCommerce and global transactions.
By choosing the right online payment terminal, you can simplify transactions, reduce costs, and provide a seamless checkout experience for customers.
Need help deciding? Compare fees and features to find the best fit for your business!