Virtual Terminal from Square now allows UK businesses accept payments on laptops without POS

31 May 2017

Square, a San Francisco-based payments aggregator providing financial services, merchant services and mobile payments, announced the launch of its Virtual Terminal solution across the United Kingdom. Now merchants in the UK may accept payments from the comfort of their laptops or desktops through the Square dashboard.

To use the service businesses may sign up for free and pay fixed charge at the rate of 2.5% for transaction on Visa, Mastercard and American Express payment cards. Virtual Terminal was first introduced last October in the United States, and is currently operated in Japan, Canada and Australia.

Square notes that Virtual Terminal is a perfect solution for businesses, service providers and contractors having no need to take payments through face-to-face communication with clients. To date Virtual Terminal has processed over $300 million in total volume of transactions. In general, the payment is credited to the merchant’s account next business day, and no special hardware is required for transaction processing.

While the system requires no special devices, businesses having existent POS may synchronize the data with Virtual Terminal by means of Square dashboard.

Sarah Harvey from Square underlined that the introduction of Virtual Terminal in the UK comes as something businesses have been asking for a long time, and seems to be the right choice for them as it has gained popularity and positive feedback from many users worldwide.


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