Virtual Terminal Processing Basics

Many businesses today handle payments remotely, whether over the phone, by email, or from off-site locations. But without a secure and reliable system in place, this often leads to delays, human errors, or worse, chargebacks and fraud. If you operate in high-risk industries like hemp, CBD, precious metals (gold and silver sales), or firearms, getting approved for standard payment processing can be even more difficult. This leaves many businesses searching for an alternative that is both secure and compliant. That’s where virtual terminal processing comes in. In this detailed guide, you’ll learn what a virtual terminal is, how it works, who it’s best for, and why 2Accept is a preferred solution for secure and compliant virtual terminal processing.

What Is a Virtual Terminal?

According to Helcim, virtual terminals process over 62.6% of all remote (non-online checkout) transactions, particularly in industries such as wholesale and transportation. A virtual terminal is a web-based application that allows merchants to manually enter credit card payments using a browser-connected device (like a laptop, tablet, or mobile phone). It’s especially useful when customers aren’t physically present to swipe or tap a card. How It Works: 

• Log in to a secure, PCI-compliant portal
• Enter customer payment information (card number, expiry, CVV)
• Submit the transaction in real-time
• Get immediate approval and send a digital receipt

You don’t need a card reader or special hardware to use a virtual terminal; a secure internet connection is all that’s required. Key Features: 

• Accept one-time and recurring payments
• Add notes or invoice numbers to transactions
• Access digital receipts instantly
• Integration with CRM and accounting tools

Who Should Use a Virtual Terminal?

The global virtual terminal market was valued at approximately $6.17 billion in 2021 and is projected to reach $37.9 billion by 2028, growing at a compound annual growth rate (CAGR) of nearly 29.6%. Virtual terminals are ideal for businesses that take remote payments or operate in non-traditional environments. Perfect For:

• Phone orders (e.g., service-based companies, telesales)
• Mail or email invoice payments
• Field service professionals
• High-risk industries (CBD, hemp, gold, firearms)
• B2B service providers and consultants

Why Virtual Terminal Processing Is a Smart Choice

Virtual terminals go beyond just accepting payments; they make your entire payment process faster, more flexible, and more secure. Whether you’re handling high-ticket sales orders or working in a regulated industry, virtual terminal processing helps you serve your customers better while staying compliant.

Accept Payments Anytime, Anywhere

With just an internet-connected device, your team can take payments from the office, on the go, or at a remote location. This flexibility is ideal for field agents, consultants, and phone-based sales teams.

• No location limits
• Works from a laptop, tablet, or mobile
• Perfect for service professionals, home-based businesses, and call centers

Serve Customers Who Prefer Human Interaction

Not everyone is comfortable entering payment details online. Some customers, especially older or cautious buyers, prefer the reassurance of speaking with a person. A virtual terminal enables secure, real-time payment processing during a phone call.

• Builds trust with personal service
• Reduces cart abandonment
• Increases conversion for phone-in orders

Ideal for High-Ticket or Regulated Sales

When selling regulated items like gold, silver, hemp, or firearms, you need more than a basic payment processor. Virtual terminals provide an additional layer of verification and flexibility, eliminating the need for physical interaction.

• Meets compliance needs
• Helps prevent fraud with AVS and CVV tools
• Handles complex orders with custom invoicing

No Need for Expensive Hardware

Virtual terminals eliminate the need for card swipers or POS terminals. That means lower startup costs and no need for ongoing hardware maintenance.

• No installation required
• Start using it instantly from your browser.
• Ideal for businesses that want low overhead

Enable B2B and Invoice Payments Easily

Many B2B service providers and consultants use virtual terminals to accept payments after sending quotes or invoices. It’s also great for high volume businesses that don’t run an online store.

• Accept card payments without a checkout page.
• Perfect for agencies, contractors, and wholesale vendors
• Helps close deals faster by reducing invoice delays

Better Control and Customization

You can add invoice numbers, notes, or customer names to each transaction. This helps with record-keeping and provides clarity during audits or chargeback disputes.

• Add detailed metadata to transactions.
• Improve accounting accuracy
• Streamline reconciliation with CRM or accounting software

Common Mistakes to Avoid in Virtual Terminal Use

While virtual terminals are easy to use, there are some pitfalls to watch for:

• Entering Card Data Incorrectly: Mistakes in typing card numbers can result in failed transactions.

Fix: Always double-check numbers before submitting.

• Lack of Proper Authorization: Remote payments can be disputed more easily.

Fix: Use AVS (Address Verification System) and ask for CVV.

• Storing Card Details Unsafely: Some businesses write card information on paper or save it on local devices.

Fix: Never store card data. Use secure, PCI-compliant platforms like 2Accept.

How Virtual Terminals Improve B2B and Invoicing Workflows

For many B2B businesses and service providers, collecting payments through traditional methods can be a slow and inefficient process. Virtual terminals help speed up this process while maintaining security and professionalism.

• Speed Up Payment Collection from Business Clients: No more waiting on mailed checks or delayed wire transfers. Virtual terminals enable you to enter payment details on the spot, facilitating faster invoice clearance and payment processing.
• Manage Recurring Billing for Long-Term Projects: If your B2B subscription based services include retainers or monthly contracts, virtual terminals can securely and automatically handle recurring payments.
• Track Payment Status in Real-Time: Stay on top of which invoices are paid, pending, or declined, all from one dashboard. This helps you follow up more quickly and maintain consistent cash flow.
• Customize Payment Fields for Service Notes or Job IDs: Virtual terminals often allow you to add fields like invoice numbers, project names, or PO references, making accounting and reporting easier later.
• Improve Client Trust with Branded Digital Receipts: You can send branded, professional receipts by email, which builds credibility and gives your clients clear proof of payment for their records.

Why 2Accept’s Virtual Terminal Solution Stands Out

When it comes to secure, fast, and flexible virtual terminal processing, especially for high-risk industries, 2Accept delivers where others fall short. From compliance to customer support, it’s built to serve businesses that need reliability without complexity.

• Bank-Level Security: 2Accept uses P2PE (Point-to-Point Encryption) and tokenization to protect sensitive card information from the moment it’s entered.
• Designed for High-Risk Businesses: Unlike traditional processors, 2Accept welcomes sellers of hemp, CBD, precious metals, firearms, and other high-risk products.
• Quick and Easy Setup: Onboarding typically takes just 48 hours, even for high-risk merchants.
• Robust Integration: Compatible with WooCommerce, Lightspeed, Flowhub, and more.

Frequently Asked Questions

Can I use a virtual terminal without a website?

Yes. A virtual terminal runs through a secure browser dashboard, so you don’t need a website or online store. It’s ideal for businesses that accept payments over the phone, by email, or in person but do not have an e-commerce platform.

Is it secure to take card payments over the phone?

Yes, it’s secure when using a PCI-compliant provider like 2Accept. Their system encrypts all card data using P2PE (Point-to-Point Encryption), ensuring sensitive details are never stored or exposed.

How long does it take to get started with 2Accept?

You can be fully onboarded in as little as 48 hours. 2Accept’s fast approval process works even for high-risk industries like hemp, CBD, and precious metals.

What kind of fees should I expect?

2Accept uses flat-rate pricing with no hidden fees. You’ll always know exactly what you’re paying, making budgeting and billing predictable and stress-free.

Is a Virtual Terminal Right for Your Business?

If you handle remote payments, phone orders, or serve in a high-risk industry, a virtual terminal is a must-have. It enables you to accept payments securely, prevent fraud, and remain compliant. With 2Accept, you get a fully secure, PCI-compliant virtual terminal that’s built for your industry. It works without expensive hardware, supports integrations, and keeps your data safe. Ready to upgrade your remote payment system? Visit 2Accept to get started today.