The rapid growth of online sales in recent years has led businesses to elevate transactions to a new level, making payments easier and faster through online payments, specifically via Virtual POS.
How does a Virtual Terminal work?
A Virtual Terminal is a method for processing debit and credit card transactions online. If you have a website, you will need a Virtual POS so that your customers can make payments. Generally, a Virtual Terminal can be used for any online transaction.
BKT offers Virtual POS/e-commerce services in a secure environment for your customers’ payments 24/7.
Benefits of using BKT’s Virtual POS/e-commerce:
- Accept payments with all cards bearing the VISA and MASTERCARD logos (debit and credit cards)
- Accept payments in a simple and secure manner; every business partnering in this service will become a member of the “MasterCard Secure Code” and “Verified by Visa” programs
- You can maintain your sales information through a reporting interface that allows you to generate reports for sales made on your online store and integrate this information into your other systems.
- You can receive payments in EUR
Requirements for E-Commerce:
If you want to offer online purchases to your customers, you will need to make some developments on your website to offer products/services that customers can choose from. Your website must meet Visa and Mastercard standards as follows:
- Accurate contact information must be maintained
- Prices and details of the products or services you offer should be specified
- If the company will sell in foreign currency, the exchange rate must be displayed on the website
- Customer service contact phone numbers and email addresses should be included
- Additionally, company information must be available on the page – Business name and address
- Import restrictions, if any, must be present
- Information about privacy policy, security policy, cancellation/return policy, distance selling contract or Service Agreement, general transaction terms, jurisdiction/delivery country, and distribution for service areas must be available on your website
- Depending on the product’s field of activity, if there are licenses and documents required by relevant authorities, these documents must be submitted to the bank
- The payment page must include an option to pay by credit card
- The website should contain a product catalog and a shopping cart
- The validity of all interfaces (links) must be considered important
- The BKT logo should be displayed on your website according to Visa and Mastercard standards
- Products prohibited by legal regulations must not be sold on this website
3D Security:
(BKT VPOS product includes 3D security)
The 3D Secure platform is required by virtual POS systems and online payment systems. In this system, developed by Visa and Mastercard, to increase the security of online purchases, the cardholder is directed to the bank’s website used during the payment process. Approval is then made with a one-time password sent to the mobile phone registered with the banking system.
When card information is intended to be used by others, you contribute to the secure purchase of your customers in the electronic environment, as the payment is made with a password sent to the cardholder’s registered mobile phone.
The system prepared for Visa cards is called “Verified By Visa,” and the system for Mastercard cards is called “SecureCode.” The 3DS service is offered free of charge.
Integration of VPOS into applications is also possible.
BKT provides various options for merchants to integrate VPOS depending on the level of security of the website.
To use the Virtual POS, companies must have an SSL certificate, which must be installed. There are SSL certificates that offer 128-bit or 256-bit security.
Website with SSL Certificate:
SSL / Secure Socket Layer: Data transmission encryption over the internet is crucial in e-commerce. Now, every e-commerce site must have an SSL and encrypt data on this site. SSL certificates also provide these encryption features.
SSL certificates ensure that data on a website is encrypted and transmitted to the other party. For example, when a customer enters their personal information and credit card details and confirms payment, this information is encrypted via SSL and transmitted to the bank. In this way, third parties cannot access this data. The difference between 128-bit and 256-bit security extensions comes from these encryption methods. The 256-bit encryption method provides a more comprehensive encryption system compared to 128-bit.
Application Requirements:
Initially, you need to apply to the bank. The applicant (or representative) must be the owner of the website. If you have applied for a Virtual POS, you need to open an account at the bank. The general required documents are as follows:
- General agreement including the terms and conditions and the legal framework of the business relationship between the bank and the client
- Information from ARBK
- Statute or Founding Act (if applicable)
- Unique Business Number / Business Registration Certificate
Afterward, the POS installation process will follow:
- The merchant form must be completed by branch staff with relevant business information.
- After confirmation, the V-POS agreement is signed.
- BKT’s technical team will provide instructions to IT teams (or a contracted software company that provides technical services to the merchant)
- BKT’s technical team will verify whether the website’s requirements have been met
- BKT will provide a test account before finalizing
- Before implementation begins, the terminal and maintenance fees must be paid at the branch according to the terms and conditions outlined on BKT’s official website.
