Accepting payments over the phone, also known as MO/TO (Mail Order/Telephone Order) or using a Virtual Terminal, allows customers to make payments without the need for a physical card present. This method is ideal for businesses that receive orders via phone or email.
MO/TO Virtual Terminal:
- MO/TO stands for Mail Order/Telephone Order. It allows customers to place an order and pay by providing their card details over the phone or email.
- This is a type of card-not-present transaction, which means higher security measures are required.
Application Process:
- To apply for a Virtual Terminal, log in to your myPOS account, navigate to the POS Devices menu, and select MO/TO Virtual Terminal. Alternatively, you can apply via the myPOS App for iOS or Android.
- Each request is reviewed individually, and additional information may be requested. You will be notified of the outcome within a few days. If approved, you can start accepting MO/TO transactions via your myPOS account - in app or web.
Risks Associated with MO/TO Transactions:
- High Risk: MO/TO transactions are considered high-risk because card details are provided over the phone or via email, making them susceptible to fraud.
- Merchant Liability: According to Card Schemes Regulations, the merchant is responsible for the outcome of any disputes arising from these transactions. This can lead to financial losses if a transaction is disputed.
Alternative Online Payment Options:
Payment Request:
- Secure and Convenient: Generate and send personalised payment requests to clients via email or SMS. Clients land on a secure payment gateway to complete the transaction.
- Reduced Risk: This method is more secure than MO/TO and reduces the risk of chargeback disputes.
Payment Tag:
- Reusable Link: Create reusable payment link that customers can use to make payments. Customize the URL and share it via any communication channel.
- Simple Checkout: Payments are processed online through a straightforward checkout page, offering convenience and security.
PayLink:
- Flexible Payments: Generate a payment link with a fixed amount, description, currency, and expiry date. Send this link to customers along with an offer or invoice.
- Customers use the link to complete the payment on a secure gateway, ensuring their card details are protected.