With the rapid development of digital marketing, the need for a more secure and stable online payment method has increased among all sellers and stores. Previously, websites would list their available products along with a phone number and other contact information. You would contact the seller, agree on a payment method, and a few days later, the product would be waiting for you at the post office or your doorstep.
Many industries and businesses are trying to move away from traditional methods and adapt to consumers who want to complete all transactions with just one click through Virtual POS. At the same time, Virtual POS is a significant step for businesses, especially those new to e-commerce, as it helps them project a more professional and trustworthy image to customers.
How to Obtain a Virtual POS?
The Virtual POS tool used for payments while shopping on websites is essentially the online version of the physical POS devices we are familiar with. To add a Virtual POS to your e-commerce site, you need to complete the first step by applying to the bank from which you will receive the service or one of the BDDK-approved payment institutions. The documents you need to submit to the relevant institution during the application are as follows:
- Copy of ID card
- Signature circular
- Tax registration certificate
- Partnership agreement (if applicable)
If you are applying for a Virtual POS for a business with a commercial partnership, the basic documents required are:
- A photocopy of the trade registry gazette
- Signature circular
- Tax registration certificate
Once you submit the documents suitable for your business and complete your application, your e-commerce site and the information you provided will undergo a thorough review process. To pass this review process and get your application approved, there are certain requirements that your e-commerce site must meet, including:
- Contracts: Return and Exchange Policies, Distance Sales Contract, Membership Agreements, etc.
- SSL Certificate: Essential for consumer security and must be present on your e-commerce site.
- Products: The final requirement is that the products and prices you will offer for sale must be listed on your e-commerce site.
After completing the application, review, and approval process, your Virtual POS will be integrated into your e-commerce site, and training will begin. The final step is the testing phase, after which it will be ready for use.
For those who don’t want to spend long periods on Virtual POS applications, struggle with confusing commission rates, and go through lengthy procedures after deciding, BDDK-approved payment institutions may be worth considering. PayBull offers favorable commission rates, enabling you to quickly integrate Virtual POS into your e-commerce site after your application and receive payments the next day.
