Certegy, a leading ACH payments and risk management company, today announced the launch of its new Virtual Terminal platform, allowing both in-store and mobile merchants to process paper checks and ACH transactions.
Virtual Terminal provides merchants with the option to leverage either a web browser or mobile device to serve as their POS register rather than using a bulky and expensive traditional POS system.
“Our Virtual Terminal provides merchants with more choice and the ability to efficiently accept more cost-effective check and ACH-based payments as opposed to higher fee credit and debit payments,” said Colby Thames, Chief Technology Officer, Certegy. “This is a great option for those who don’t want or need to buy or rent a traditional POS system, as well as for mobile merchants that need to accept payments at the time of service from any location.”
The new Virtual Terminal platform enables merchants to process customer-written checks in-store using a web browser and a check reader, or in the field using mobile devices or tablets to capture check images, which are then converted to an ACH for settlement. This is especially useful for service-based merchants such as plumbers, electricians, contractors and other field service companies. The platform also enables merchants to offer and accept a payment installment option by utilizing Certegy’s Buy Now, Pay Later (BNPL) solution.
All Virtual Terminal transactions run through Certegy’s risk analysis engine during processing, allowing merchants to take advantage of Certegy’s Warranty Program, which guarantees full reimbursement for any authorized check or ACH transaction that is returned unpaid due to stop payment orders, insufficient funds, closed or fake accounts, and other acts of fraud.
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