As part of Cardstream’s Merchant Management System, customers have access to a Virtual Terminal. This is a web-based portal that can be easily accessed through a desktop, tablet, or mobile device, facilitating you and your merchants to process MOTO transactions.
MOTO stands for “Mail Order, Telephone Order,” and can sometimes be known as “Card Not Present” (CNP) transactions. Instead of the cardholder being physically present with their card at the time of the transaction, the cardholder will pass payment details to the merchant over the phone, or in the post.
Once the details are received, the merchant will log onto the Virtual Terminal, and then enter the necessary data, such as card number, customer’s name, and address. When the customer’s bank has approved the transaction, the merchant will receive confirmation, and the customer will be automatically emailed a receipt if this feature has been switched on.
As with regular card payments, merchants typically receive the funds from a MOTO transaction within 3-5 working days.
The ability for a merchant to process payments through Cardstream’s Virtual Terminal has many benefits, such as
The virtual terminal has been specifically designed to use when processing mail order or secure telephone payments. The secure environment allows you to process credit and debit card payments, as well as refund transactions, all in real time.
You will need to ensure when processing such transactions, that your Acquirer understands that the transaction is a MOTO transaction. This is because your Acquirer will have different requirements in order to classify transactions as secure. For example, EMVⓇ 3-D Secure is often required for internet transactions, but is impossible for MOTO transactions as the card is not present during the payment.