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Virtual Terminal Meaning

A virtual terminal is an online tool provided by payment processors that allows merchants to accept credit and debit card payments without the need for physical point-of-sale hardware. Merchants log in through a web browser, enter the customer’s card information, and process the transaction securely.

Virtual terminals are particularly useful for businesses that take payments over the phone, through mail order, or in environments where a card reader is impractical. They encrypt sensitive data to comply with PCI DSS standards and may offer additional features such as recurring billing, invoicing, and transaction reporting.

In the crypto space, payment gateways sometimes integrate virtual terminal functionality to allow merchants to accept stablecoins or convert crypto payments into fiat.

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