Do you run an online business? Whether you’ve got a physical store location or not, many businesses choose to sell items through their own websites, too. You might even take credit card payments by phone if you run a call center or take a lot of shipping orders. Card not present payments can be a cost effective method for making money, but only if you use the right credit card payment processing company and a low-cost or free virtual terminal.

What is a virtual terminal? These types of programs allow you to receive payments from customers when their credit card is not present. Call centers and other businesses that operate by phone (such as a food delivery service) may use a virtual payment terminal to accept credit cards from customers. Online businesses and billing services use these programs, too, in order to give customers the convenience of making credit card payments online.

There are plenty of choices for businesses that need online terminals. Today’s payment processing is also expanding into the world of mobile payments. These devices are used for card swiping and can be clipped to a tablet or smartphone. They may or may not employ virtual terminals to take payments. Some payment processing companies may offer free virtual terminals for online and mobile payments, but make sure that there aren’t any hidden fees associated with this service.

Have you ever used a free virtual terminal before — or any other type of online payment processing? Tell us about your experience in the comments.