How to Apply for a Virtual POS?

Virtual POS systems, which enable secure and uninterrupted online payment collection, are one of the biggest supporters of businesses engaged in e-commerce. Virtual POS not only allows companies to receive payments but also enhances user experience, boosts sales, and streamlines operational processes. In this article on Papel Blog, we answer questions such as: What is a virtual POS? How does it work? What are the application and setup processes? Which institutions provide this service? And how can this process become more efficient with innovative solutions like Papel?

 

A virtual POS system enables businesses to accept payments via credit or debit cards online, essentially serving as the online equivalent of physical POS devices. This system, widely used on e-commerce websites and mobile apps, provides 24/7 uninterrupted payment collection, thereby enhancing customer experience and contributing to increased sales. Since it supports multiple payment methods, virtual POS appeals to a broad range of customer profiles. Thanks to security measures like 3D Secure and encryption systems, it protects both the seller and the buyer, while also offering easy integration that improves the efficiency of business operations such as transaction tracking and reporting.

 

In a virtual point-of-sale (POS) payment system, the customer is directed to the payment page after completing their purchase and entering their card information. This information is securely transmitted to the bank using Secure Sockets Layer (SSL) encryption. The bank checks the card information and requests transaction approval from the user via 3D Secure. Once approved, the payment is completed and the amount is transferred to the merchant’s account. This process ensures a fast and secure payment experience for both the customer and the seller.

 

 

Virtual and physical POS systems vary significantly in terms of usage areas and costs. Virtual POS is an ideal solution for businesses that sell online, whereas physical POS is primarily used in physical stores for in-person transactions. In a physical point-of-sale (POS) system, the card is swiped or inserted into a device to complete the transaction; in contrast, a virtual POS does not require any physical device. Additionally, due to its lower setup costs and the absence of hardware requirements, virtual POS is more cost-effective. The security protocols used in both systems also differ. Virtual POS utilizes security measures such as 3D Secure and SSL certificates, whereas physical POS devices rely on EMV chip technology for secure transactions. Lastly, the customer experiences they provide set them apart—virtual POS allows payments from anywhere, at any time, while physical POS limits transactions to in-store environments.

 

Of course, virtual POS is not the only payment option for online stores. Our article “Best Payment Methods for Online Stores” can help you choose the best payment solutions for your business.

 

To use a virtual POS system that enables businesses to accept payments via credit/debit cards or digital wallets online, an application must be submitted along with certain documents. Besides the required documents, the applicant’s website must have an SSL certificate and include clear communication and return policies, which are also essential criteria in the evaluation process. The typical documents required for the application are:

 

• Tax certificate

• Signature circular

• Copy of the company representative’s ID

• Proof of residence

• IBAN details (bank receipt or screenshot)

• Provisional tax return for the relevant period

 

 

Virtual POS is a service provided by both banks and licensed payment institutions in Turkey. Many banks in Turkey offer virtual POS services, but they usually require detailed documents and procedures during the application process. Additionally, application and approval processes with banks can take longer. On the other hand, licensed payment institutions that provide virtual POS services typically offer faster application processes, flexible commission rates, and various integration options. Businesses should consider their specific needs and priorities when selecting an institution to partner with for virtual POS services.

 

Setting up a virtual POS system is a technical process that requires knowledge. If not completed properly, steps such as API integration, security settings, and testing processes may result in transaction issues. Therefore, businesses seeking to establish an online payment infrastructure must exercise caution and work with a reliable solution partner during the setup process.

 

To integrate a virtual POS into an e-commerce site, the API connections must be configured appropriately first. Incorrect API settings may result in failed transactions or security vulnerabilities. Therefore, it’s essential to carefully review the technical documentation provided by the payment provider and accurately implement the integration steps. Furthermore, implementing security measures such as an SSL certificate correctly is crucial for protecting customer data.

 

Once the virtual POS setup is complete, a comprehensive testing phase is needed to ensure payment transactions work smoothly. During this phase, transactions should be tested under various scenarios, and any errors identified must be resolved. Additionally, the technical support services provided by the payment provider enable issues encountered during this phase to be addressed promptly.

 

Papel virtual POS stands out with its fast and digital application processes, which deliver results in a short time. With its low commission rates and absence of setup and transaction fees, it is a highly advantageous solution. The integration process is also more accessible and efficient thanks to a user-friendly interface, ready-to-use integration modules, and 24/7 technical support. Moreover, with the Papel Merchant Panel, financial data, teams, and POS devices can be easily managed from a single platform. These advantages make Papel particularly appealing for SMEs and new entrepreneurs.

 

If you want to become a Papel Merchant, you can apply for a virtual POS and immediately step into Papel’s privileged world. We also encourage you to explore our other business payment solutions. Visit our Solutions for Merchants page to discover all the payment options we offer.

 

 

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