Virtual terminal and phone payments
A virtual terminal takes payments with no hardware at all: card details keyed into a browser for phone orders, deposits and invoices. It is the most convenient way to accept a card and the most expensive per transaction, which is exactly why it should be set up deliberately.
- Browser based, no hardware
- Payment links and keyed invoices
- AVS and CVV checks built in
Why keyed payments cost more, structurally
A keyed transaction has no tap, no chip, no cardholder present, so the card networks price it at the highest risk tier: card not present interchange, plus downgrade penalties when address verification is skipped. That premium is structural and no provider can waive it. What a provider controls is the markup layered on top and whether the transaction is processed with the data that qualifies it for the best available rate within its tier.
The difference between a sloppy keyed setup and a clean one, at invoice volume, is a real margin line.
Who genuinely needs one
Hotels and tour operators taking deposits by phone. Professional and trade businesses whose clients pay invoices by card. Wholesalers taking corporate cards on account. Any business where the payment moment happens over a phone line or an emailed invoice rather than at a counter. For these operations a virtual terminal is not a convenience, it is the revenue channel, and it deserves channel grade pricing.
Setting keyed acceptance up properly
Proper setup means address verification switched on and used, security codes captured, invoice references attached so disputes are winnable, and corporate card volume flagged for the enhanced data that qualifies it for the interchange treatment it is entitled to. It also means keyed volume priced as its own category on the agreement rather than blended into card present rates, in either direction. We deploy virtual terminals configured this way from day one.
Keyed volume inside the bigger picture
Most businesses with a virtual terminal also take cards another way. The review reads keyed, tapped and online volume as separate categories, prices each honestly, and shows where the mix could shift: some invoices belong on the keyed channel, and some belong on a different rail entirely, matched to how the payment actually happens.
Common questions
Why is my keyed rate so much higher than my terminal rate?
Card not present interchange starts higher because the fraud risk is structurally higher, and skipped verification steps push transactions into penalty tiers. The floor is real, but most keyed setups also carry avoidable downgrades and avoidable markup on top of it.
Can I take a payment over the phone legally and safely in Canada?
Yes, through a PCI compliant virtual terminal with the card details entered directly into the secure form. What you must not do is write card numbers down or store them outside the compliant system, and we cover safe handling at deployment.
Do invoices paid by corporate card really cost more?
Corporate and purchasing cards carry premium interchange, and keyed corporate transactions sit near the top of the price list. Enhanced data submission qualifies them for the interchange treatment they are entitled to, which is a configuration choice most default setups skip.
Should I push customers away from paying by keyed card?
Sometimes. If an invoice can settle by transfer or a tapped card, that rail fits it better. But refusing cards costs sales and slows collection, so the honest answer is to price the channel properly and then decide with real numbers.
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