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If the last two years have shown anything, it’s that having the capability to take virtual payments is vital if you want to weather unforeseen circumstances. It’s perfectly legal to store customer card details for future over-the-phone purchases and remain GDPR compliant, as long as those details are stored securely and not misused.Īccording to the European Data Protection Board (EDPB), you just need to ensure that the customer’s consent is freely given, specific, informed and unambiguous. This stands for Payment Card Industry Data Security Standards, and is a set of strict guidelines to ensure sensitive customer information is protected during card transactions.Īll major providers make it very clear that they’re PCI DSS compliant, so you won’t need to spend any effort hunting for a compliant provider. Taking payments over the phone is completely safe as long as you use a trusted provider.Īny virtual terminal provider you use should be PCI DSS compliant. Taking credit card payments over the phone regulations UK Or, if the number and value of transactions varies wildly month-to-month, a percentage-based fee is probably your best bet. If you know you’re going to make a consistent and predictable number of transactions, opt for a monthly subscription. So, if you know you’re going to be taking £15,000 in payments over the phone every month, go with PayPal to get the most competitive transaction fees. Which type of fee structure you choose depends on your unique requirements. Or you could be charged on a sliding scale depending on your monthly sales volume.200 transactions for £9.99 per month + 10p per additional transaction. Others will allow you a certain number of transactions for a monthly subscription cost, with any transactions over the limit charged at a flat rate.Some providers charge a percentage-based fee for each transaction taken through your virtual terminal.That’s because virtual payments expose the merchant, the customer, and the payment processor to a slightly greater risk of fraud.įees vary across suppliers, and different providers employ different fee structures that can make it more or less costly depending on your needs. This fee is actually higher than if you’re completing a transaction using a physical card payment machine. Hit ‘confirm’ and whoosh, the money should be whizzing it’s way over to you in no time at allĪs with any card payment, there’s a fee for taking card payments over the phone, and for all virtual payments, you’re charged a Card-Not-Present (CNP) fee.Double check the details with the customer.Enter the billing address for the payment card.Ask the customer to read out their card details and enter them immediately into the correct payment fields.So, you’re on a call with the customer, they want to make a purchase, and they have their card ready – what next? Once you have your virtual terminal set up, it’s quick and easy to start taking payments over the phone. Taking card payments over the phone step-by-step Once you’ve entered the customer’s card details into the terminal, the data is automatically sent to your payment provider, and the cash, minus fees, is deposited in your account.
SMALL BUSINESS CREDIT CARD TERMINAL SOFTWARE
Virtual terminalsįor taking card payments over the phone, you’ll need a virtual terminal.Ī virtual terminal is a secure web or software application that allows you, the merchant, to take card payments without a credit or debit card being physically present. Or, if you’re ready to get set up with a taking payments provider straight away, you can compare providers using the form above. Read on to learn about the costs, regulations, and step-by-step process of taking payments over the phone. To get started, all you’ll need is a phone, an internet connection, a merchant account, and a virtual terminal.