PayPal Virtual Terminal is a service provided by PayPal that allows businesses to accept credit and debit card payments over the phone, by mail, or in person. To use PayPal Virtual Terminal, businesses must meet certain requirements and follow specific guidelines. In this article, we will outline the PayPal Virtual Terminal requirements and provide an overview of how the service works.
Overview of PayPal Virtual Terminal
PayPal Virtual Terminal is a web-based application that allows businesses to manually enter credit and debit card information to process payments. The service is ideal for businesses that need to accept payments over the phone, by mail, or in person, such as restaurants, hotels, and retail stores. To use PayPal Virtual Terminal, businesses must have a PayPal Business account and meet the requirements outlined below.
Requirements for Using PayPal Virtual Terminal
To use PayPal Virtual Terminal, businesses must meet the following requirements:
- A PayPal Business account: Businesses must have a verified PayPal Business account to use PayPal Virtual Terminal.
- credit and debit card acceptance: Businesses must be able to accept credit and debit card payments through PayPal.
- PCI compliance: Businesses must be compliant with the Payment Card Industry Data Security Standard (PCI-DSS) to ensure the secure processing of credit and debit card information.
- internet access: Businesses must have a stable internet connection to access the PayPal Virtual Terminal application.
- compatible browser: Businesses must use a compatible browser, such as Google Chrome, Mozilla Firefox, or Safari, to access the PayPal Virtual Terminal application.
In addition to these requirements, businesses must also agree to the PayPal Virtual Terminal terms and conditions, which include provisions related to card network rules, payment processing, and dispute resolution.
Setting Up PayPal Virtual Terminal
To set up PayPal Virtual Terminal, businesses must follow these steps:
- Log in to the PayPal Business account: Businesses must log in to their PayPal Business account to access the PayPal Virtual Terminal application.
- Enable Virtual Terminal: Businesses must enable the Virtual Terminal feature in their PayPal Business account settings.
- Configure settings: Businesses must configure their Virtual Terminal settings, including setting up payment methods, currency options, and tax rates.
- Test the application: Businesses must test the Virtual Terminal application to ensure it is working correctly and that payments are being processed successfully.
Once the Virtual Terminal application is set up, businesses can begin processing payments manually by entering credit and debit card information into the application.
Security and Compliance
PayPal Virtual Terminal is designed to be secure and compliant with industry standards. The application uses end-to-end encryption to protect sensitive credit and debit card information, and businesses must comply with PCI-DSS to ensure the secure processing of payments.
| Security Feature | Description |
|---|---|
| End-to-end encryption | Protects sensitive credit and debit card information from interception and unauthorized access. |
| PCI-DSS compliance | Ensures businesses are compliant with industry standards for secure payment processing. |
| Access controls | Limits access to the Virtual Terminal application to authorized personnel only. |
Benefits of Using PayPal Virtual Terminal
PayPal Virtual Terminal offers several benefits to businesses, including:
- Convenience: Allows businesses to accept payments over the phone, by mail, or in person.
- Security: Provides a secure way to process credit and debit card payments.
- Flexibility: Allows businesses to configure settings to meet their specific needs.
- Cost-effective: Eliminates the need for expensive payment processing equipment.
Overall, PayPal Virtual Terminal is a convenient and secure way for businesses to accept payments over the phone, by mail, or in person. By meeting the requirements outlined above and following the setup and security guidelines, businesses can ensure a smooth and successful payment processing experience.
What is the cost of using PayPal Virtual Terminal?
+The cost of using PayPal Virtual Terminal varies depending on the type of payment being processed and the business’s location. Businesses can expect to pay a transaction fee of 2.9% + $0.30 per transaction for domestic transactions, and 4.4% + a fixed fee based on the currency for international transactions.
Do I need to be PCI compliant to use PayPal Virtual Terminal?
+Can I use PayPal Virtual Terminal to process recurring payments?
+Yes, businesses can use PayPal Virtual Terminal to process recurring payments. The application allows businesses to set up recurring payment plans and subscription-based payments for customers.
