What is a virtual POS? Who can use a virtual POS? Where is a virtual POS used? Where to get it, how much does it cost, we have tried to answer them all.
What is a virtual POS?
The versions used over the internet of POS (point of sale) devices that we use while making payments with a credit card in store shopping are called POS-VPOS (virtual point of sale) or virtual POS.
The logic of the Virtual POS is based on transferring the money, which is the price of the product and service received from the buyer's account at the bank and credit institution, to the seller's bank account via the information entered over the internet, just as the payment transaction takes place when you have your credit card read by the device in the store.
Where is a virtual POS used?
A virtual POS can be used on all websites where sales will be made on the internet. Virtual POS provides easy, effortless, and secure shopping opportunities. You can use a virtual POS to sell your product or service through your website.
Should I use a virtual POS?
If you have a website and intend to sell products/services, virtual POS is one of the solutions you can use. According to the latest data from BKM (Interbank Card Center), the 15% growth in payments made with cards in the first six months of 2017 compared to the previous year can also be an indicator showing that user habits are shifting in this direction and emphasizing the importance of collecting payments online with credit cards.
Where to get a virtual POS from?
Almost all banks have a virtual POS service. The most well-known ones are Akpos (Akbank), VPOS-724 (Vakıfbank), POSNET (Yapı Kredi Bankası), Garanti Sanal POS (Garanti Bankası), Finans WebPos (Finansbank), Ziraat Sanal POS (Ziraat Bankası), TEB Sanal POS (Türk Ekonomi Bankası). As an alternative to banks, you can also get it from systems where all banks are gathered in one place, such as PayU, İyzico, PayTR, HepsiPay, ParamPos, and İpara.
I haven't established a company. Can I use a virtual POS without a company?
If you do not have an established company, you cannot acquire and use a Virtual POS according to the legislation. Instead of a virtual POS, you can benefit from services such as Paypal, Stripe, etc.
Is a virtual POS secure?
In order for a Virtual POS to be integrated into any website, banks mandate certain security measures. The use of a virtual POS is not permitted before these audits take place. The use of a virtual POS does not carry more risk than any credit card usage. As an end user, the most important points to be considered are to always keep the security software on your computer up to date, to shop from websites you trust to be secure, and to check that there is an SSL on the websites you shop from.
What are virtual POS prices?
Virtual POS prices vary from bank to bank. The healthiest way is to get in touch with the banks. Virtual POS annual subscription fees can vary between 600 TL and 2000 dollars.
What are virtual POS commission rates?
Virtual POS commissions also vary according to the bank, just like virtual POS prices. When we look at the Virtual POS commission rates, we encounter commission rates starting from 2.80% for single payments and increasing up to 15% depending on installment options. However, these rates vary according to your relationship with the bank. Therefore, get offers from multiple banks and compare them, especially the bank you already work with.
What does rented virtual POS mean? How is it used?
It can be difficult to get a virtual POS from banks for newly established companies and some risky e-commerce sites. Firms facing this situation want to take the path of renting a POS from other firms as a solution. Using a rented virtual POS is not legal. Even if you perform a product or service sale virtually, you have to issue an invoice. Credit card payments are controlled by the General Directorate of Revenues. When a rented virtual POS is used, problems will arise at the stage of arranging the invoice. In addition, depending on the invoice, when an e-commerce site performs a transaction with a rented Virtual POS, the business from which the POS is rented must also assume the return, warranty, and other after-sales responsibilities regarding the product. This is not possible with a rented virtual POS either.