With the rapid digitalization of everything and the pandemic process, the demand for e-commerce sites has increased too much. Previously, online shopping was for just the comfort of effortless shopping but now with lock-downs, it returned to an obligation. So contactless payment has become more important. For this reason sales of e-commerce sites have increased.

Nowadays, there is a high number of virtual fraud. So, most people who want to do online shopping, worry about the reliability of sites and the protection of personal data. For this reason, usage of the virtual POS has increased.

What is Virtual POS?

 

Virtual POS (Point of Sale) is an online payment method that establishes fast and secure communication between seller and customer. So, it is the online version of POS machines which is we use while shopping at a physical store.

After the client enters the card information into the system, the transaction reaches the bank. After the bank approves/refuses the transaction, the company gets paid or the transaction is canceled.

What are the Pros of Virtual POS?

For The Company	For The Customer
The reliability of the company increases.	The customer’s personal information gets more secure.
After the company gets reliable, there may be an increase in sales.	All data saved in the database and it provides convenience on the next shopping.
Provides easier payment.	Shopping completes quickly.

 

Mosf of banks have Virtual POS. Some of those;

 

Finansbank – WebPos

It offers customers many installment options and earns Money Points from purchases.

Ziraat Bank – Ziraat Virtual POS

Ziraat Bank also enables companies to offer many opportunities to customers.

Akbank – Akpos

Akbank earns chip money for customers and allows them to use them at Axess membership companies.

Garanti Bank – Garanti Virtual POS

Garanti Virtual POS helps making a transaction with a lot of different cards and installment opportunities.

Yapı Kredi – POSNET

Yapı Kredi also offers installment opportunities. Also, customers can do shopping from companies that have World membership.

With our Ko-Pilot product, which we offer you as a Kartaca company, you can receive payments from all bank cards and different payment methods by performing a single integration process.

 

What is Needed To Apply For Bank’s Virtual POS System?

Copy of ID Card

Circular of Signature

Tax Signboard

Partnership Agreement

If you have a trading partner;

Circular of Signature

Tax Signboard

Copy of Commercial Registry Newspaper

These documents can differ from bank to bank. You can reach detailed information on banks’ websites. Also, you must have an SSL certificate on your site. This certificate is known as the security protocol and is required for site reliability. You can contact your hosting company to get an SSL certificate.

Payment Companies Providing Virtual POS

Iyzico:

It is a payment company that has progress recently. It offers the option of making installments with all cards. The payment process is provided by API integration. They have a card storage feature. You can make integrate with lots of e-commerce sites like WooCommerce, E-Ticaret Kur, ShopPHP, etc. They give the seller’s money after they block the money for 21 days.

PayTR:

In the beginning, you had to prove if you are an unlimited, anonymous, or limited company to get service from this local payment company. But now you don’t need to do that. This company gives the seller’s money the next day.

PayU:

PayU is a global payment company. If you have an overseas sale, this company could be a good option for you. You can transform your mobile phone or tablet to a mobile pos machine with the Mpos feature. Also, customers can shop quicker with the OneClick feature.

 

Virtual POS and 3D Secure

3D Secure system means three-dimensional security system. So we can also say it is a three-dimensional secure network between the seller, customer, and bank.

You must integrate needed software to Virtual POS systems to do 3D Secure transactions. This transaction differs for every bank. So if you will work with more than one Virtual POS, you have to do integration transactions separately for each.

The customer sees 3D verification first during the payment transaction. After the customer enters card information, the 3D system sends a code with SMS. When the user enters this code correctly, the payment transaction begins. With the code entry process via SMS, transactions from stolen cards are prevented. Thus after the 3D system is integrated into the Virtual POS, an extra safety network is created. This system is useful also for the company. The company can avoid taking responsibility because the possibility of the customer performing transactions against his / her own will is very low.

Besides SMS verification, verification also can do by mobile notification. When you start a purchase, the mobile bank app sends you a notification and when you accept it the payment is completed. For this transaction, make sure your mobile notifications are turned on.

In the diagram below, you can see the connection between company, user, Virtual POS and, 3D Secure in detail;

 

Source: https://bit.ly/2QaB50E

 

E-commerce companies will be more successful which are using Virtual POS and 3D Secure systems. Because the people don’t want to shop from anywhere they don’t trust. For this reason, companies that incorporate these systems step forward.

When you are choosing the Virtual POS for your company, you should be careful about clauses like service charges, commission percent, getting paid speed. As a result of good research, it will be better for you to choose the most suitable Virtual POS for the product or service you sell.