A payment gateway encrypts and transmits customer data; a processor moves funds between accounts. Both are essential for online credit card transactions.

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. A virtual terminal allows businesses to key in a customer's ...

Accepting credit cards requires a payment processor like Square or Stripe, a merchant account, and hardware like POS ...

A virtual terminal is especially valuable in industries or situations where in-person card processing isn’t practical, such as handling reservation deposits, accepting donations, and over-the-phone ...