What is virtual POS; They are internet-based versions of POS devices used in physical shopping. Payments made with magnetic, chip or contactless via credit cards and debit cards for physical purchases can be made over the internet, thanks to Virtual POS. Buyers can make online payments by entering their credit card information or using intermediary software. In short, virtual POS services are technologies that enable online instant payment and e-collection transactions of parties in e-commerce and other commercial relations.
In our digitalizing world, many processes and transactions can now be carried out through online channels. The most important of these is the e-commerce ecosystem.
Purchases of goods and services can be made easily through online channels. The systems required to ensure payments between buyers and sellers in e-commerce are also developing rapidly. Virtual POS, one of these systems; It mediates buyers’ payments and sellers’ collections online.
How does the virtual POS system work?
Customers who will shop via online platforms, Virtual POS They enter their card information into the fields on their screen. Thanks to this information reaching the bank, authorization for payment is taken. Virtual POSs enable the provisioning process to be carried out securely. The bank takes the transaction amount for which authorization is requested from the credit card limits or the accounts to which the debit card is linked. Thanks to the provision received, payment-goods or service exchange is carried out. After the provision, the approved balances are transferred to the seller’s account instantly or after the specified waiting period has passed, according to the virtual POS agreement.
Are virtual POS’s safe?
Virtual POS systems, which play a critical role in ensuring the continuity of online commerce today, are very secure technologies.
SSL encryption technology with international standards is used to prevent credit card information from being obtained by third parties other than the platform or website and the recipient. Moreover 3D Secure Technologies such as these also play a role in determining the accuracy of transactions. And it is another security application that ensures its authenticity.
What are the advantages of virtual POS?
Virtual POS offers many advantages for both buyers and sellers on online platforms. It allows buyers and sellers to make online payments 24/7. In addition, making payments within seconds is another advantage compared to bank transfer. Depending on the features of virtual POS devices, shopping can be done in foreign currencies other than TL. And it makes it easier to track transactions on behalf of both parties.
