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4 Key Advantages of Virtual Terminals for NFC Payments

February 21, 2025

What is Virtual Terminal?

A Virtual terminal allows businesses to process payments via mobile apps, offering a flexible alternative to traditional POS terminals for remote or on-the-go transactions. When virtual terminal is combined with NFC payments, businesses can provide a seamless and efficient way to accept customer payments.

What Are NFC Payments?

NFC payments, or Near Field Communication payments, let customers complete transactions by tapping their NFC-enabled card, smartphone or wearable device near a terminal. In Southeast Asia, the adoption of NFC payments has grown significantly, with 75% of consumers in Singapore and 86% of consumers in Thailand preferring to use contactless cards over physical cards. Below are the advantages for businesses using a virtual terminal to accept NFC payments:

4 Key Advantages of Virtual Terminals for NFC Payments

1. Faster Transactions and Improved Customer Experience

   In today’s fast-paced market, customers expect swift resolutions, particularly when making purchases at retail stores. According to recent data, 79% of Southeast Asians prefer NFC payments due to their speed, requiring only a quick tap of a card or smartphone to complete the transaction. By adopting a virtual terminal to process payments, businesses can maintain a competitive edge, as the Fiuu’s virtual terminal supports a wide range of popular payment methods prevalent across Southeast Asia.

2. Enhance Security and Fraud Prevention

   The financial services industry has been significantly impacted by card fraud, resulting in annual losses exceeding €1.8 billion within the European Union. NFC payments have gained popularity due to their ability to mitigate risk by eliminating the need to manually enter credit or debit card information. Fiuu’s virtual terminal effectively solves this business challenge by enabling seamless payment acceptance while prioritizing robust security measures to safeguard sensitive customer payment data. By utilizing advanced encryption and secure data transmission protocols, a virtual terminal ensures the confidentiality and integrity of payment transactions.

3. Cost-Effective Payment Solutions

   Virtual terminal offers an excellent solution for small-budget businesses or those seeking a cost-effective point-of-sale system. With a straightforward setup and minimal ongoing maintenance costs, it provides an efficient way to manage transactions and streamline operations without breaking the bank. Perfect for businesses looking to keep overheads low while still enjoying reliable, easy-to-use POS technology.

4. Increased Payment Flexibility and Convenience

   As Apple Pay and Google Pay become the preferred methods for NFC payments across Southeast Asia, businesses must adapt to meet customer expectations by offering flexible payment solutions, especially in the retail sector. Consumers are increasingly likely to trust brands that support a wide range of payment option. Fiuu’s virtual terminal enables businesses to seamlessly accept a variety of NFC payment methods, providing a secure and efficient transaction experience.

Who Can Apply for Fiuu’s Virtual Terminal?

Fiuu’s flexible and secure virtual terminal is designed from small startups to large enterprises. Here’s a breakdown of who can benefit from using Fiuu:

Enabling Virtual Terminals for Payment Solutions

In today’s fast-paced world, adopting innovative payment solutions is essential for staying competitive and meeting customer expectations. Virtual terminal provides businesses with a seamless and flexible way to process payments remotely. By partnering with Fiuu, you can streamline payments and stay compliant with security standards, PCI-DSS to protect customer data.