Credit Card Processing

The Difference Between Physical and Virtual Credit Card Processing

There are some major differences between physical, point of sale credit card processing methods and virtual credit card processing methods. Most credit card processing companies offer you both forms of service, and a business owner will often turn to a credit card processing company for one or both types of service. Usually the business owner that only offers a virtual store and payment gateway will rely on virtual credit card processing. Some business owners take advantage of both services so they can expand their payment processing methods even more.

A virtual payment gateway supplying services offered by a credit card processing company does not require the use of a physical card reader. The consumer does not have the ability to swipe a credit card online so physical credit card processing equipment becomes an unnecessary component in the role of the transaction. However, mobile credit card processing equipment and traditional card reading equipment is still very much needed in physical environments for transaction handling.

The fees associated with virtual online credit card processing and mobile or physical forms of credit card processing vary greatly and one will find that the fees are often higher when looking into virtual forms of processing. The equipment you use that is associated with mobile credit card processing equipment is often associated with minimum fees in terms of monthly charges, super low fees for processing, and merchant providers offer accounts that have no monthly minimum processing fees assigned too. A business owner needs to carefully scan over the terms and conditions that are documented in the contractual agreement supplied by the credit card processing company. The contract will clearly indicate fees, monthly minimums, the costs of equipment and the rights and responsibilities of the business owner as well as the merchant credit card processing provider.



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