Thursday, 10 Jun, 2021
Purchase habits are changing, and payment preferences are undergoing significant changes as a result. Payments over physical POS used to be fancy, but today, the number of customers using card swipe has dramatically dropped due to the context of the Covid-19 pandemic, which has proved that online payments are more convenient, safer, and quicker. Therefore, vendors who want to process customer payments online must have a virtual payment gateway instead of a traditional physical POS to accommodate this shift in customer behaviors. Before going further, we will start with a brief definition of a Virtual Payment Gateway and a Traditional Physical POS (Point-of-Sale).
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Virtual payment gateway is an ideal solution for processing online transactions in 2021
The primary difference between a virtual payment gateway and a traditional physical POS is that a virtual payment gateway enables merchants to accept payments virtually anywhere they have Internet access, without the need for a card swipe or software installation. To explain this in simpler terms, at the time of purchasing a jacket from a well-known digital platform like The North Face, when the customer makes a payment for the jacket, a virtual payment gateway helps you in the process by transferring the money to your merchant’s virtual account payment gateway.
Importantly, the merchant cannot accept online payments unless you apply for a merchant’s virtual account payment gateway, which is what establishes a business relationship between you and your online merchant services provider. You simply need to submit an application along with supporting documentation about your company. Once the merchant’s virtual account payment gateway is approved, your merchant account ID will be issued, and you can start processing immediately. By setting up a merchant's virtual account payment gateway in seconds, you can collect and track payments like a pro.
In contrast to the virtual payment gateway, the traditional physical POS is used to process card-present payments. However, some types of businesses could not benefit from the physical POS, and now the virtual payment gateway does its magic.
The following are the fundamental procedures of how a virtual terminal payment gateway functions.
Each business is unique and so is the way it operates. Whether you are running a private clinic, a restaurant, or a large multinational corporation, one thing you all share in common is accepting online payments from clients as you don’t usually see your customer in person, and now is when PayCEC’s virtual terminal payment gateway comes in and gives a hand.
PayCEC has become an indispensable online payment gateway solution for freelancers like web developers, writers, graphic designers, or other creative services professionals that may work remotely, and may not interact with their clients in person. Besides, PayCEC’s virtual terminal payment gateway is also necessary for restaurants and eateries as well as retailers and small shops that handle online orders. Their customers can sit on a sofa, enjoy a cup of hot chocolate, and tap on the mobile screen to make a payment easily. They don’t need to go out to pay the bill anymore. It is clear that the opportunities presented by virtual terminal payment gateway for both businesses and customers far outweigh the traditional physical POS.
Firstly, it is always a good idea to supplement your options for settling payment. You never know how business might shift, or the economy may change, so choosing the right virtual payment gateway for your online business is one of the most crucial steps in getting started with your digital journey. PayCEC’s impressive technology of virtual payment gateway empowers you to handle credit and debit cards, and lets you process transactions in real-time from any device that helps to maximize your ability to capture lucrative sales.
Secondly, any businesses who use the Internet can be a target for phishing scams which causes payment fraud, malicious data breaches, and cyberattacks are what may push business out early when merchants set up sketchy security. This will cause your customer to underestimate your brand prestige, and surely deteriorate the rate of customer buying back, because when your customers make payments online, one of the biggest preoccupations is the protection and security of their sensitive personal data.
Therefore, PayCEC’s powerful virtual payment gateway is no longer optional, it's an essential way to avoid sophisticated scams and frauds over online payment platforms by offering powerful 3D secure, PCI DSS compliance, and Tokenization features. These comprehensive security features effectively detect and against advanced threats before they impact and devastate your business, and coupled with this, lessens the ratio of the consumers’ attempts to pay online being rejected. As a result, it can be said that choosing the proper virtual payment gateway can determine the success of your online business since it reflects an inevitable result in an increase in consumer confidence in digital payment methods as well as a demonstrable ability to robustly minimize online frauds.
The PayCEC virtual payment gateway guarantees the highest level of security.
Who thought something so simple could be so secure, right? In other words, accepting online payments worldwide is so easy and reliable with PayCEC’s outstanding virtual payment gateway.
As online shopping continues to carve its own way in the booming E-commerce world, both vendors and buyers now can benefit from PayCEC virtual payment gateway which easily processes payments of Visa / Mastercard / Amex wherever you have internet access.
Besides, PayCEC virtual payment gateway detects whether your customers are on a PC, a mobile phone, or a tablet, and automatically displays an optimized compatible design interface for that device. Moreover, when sellers set up a merchant’s virtual account payment gateway, you can easily view financial activity such as refunds and chargebacks, and track transactions with easy-to-read reports.
PayCEC virtual payment gateway has proudly been a trusted international online payment solution for various businesses for over the years. At PayCEC, merchants can find the best virtual payment gateway that saves a great deal of time, skyrocket your sales, make your clients happy, and run your business successfully and effortlessly.
PayCEC virtual payment gateway was established in response to the growing need of businesses to accept online payments more quickly and easily. In the digital era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.
PayCEC virtual payment gateway is a truly global payments platform that not only allows customers to get paid instantly and securely, but also withdraws funds to their business accounts in various currencies.
We have created an open and secure payments ecosystem that entrepreneurs and businesses choose to securely transact with each other online and on any device. We proudly maintain the highest level of client advocacy in the industry.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.