Virtual POS

Virtual POS

The rise of startups and the rapid growth of eCommerce over the last few years has shifted the focus of companies from traditional transactions to improving the online payment experience by adapting to the digital consumer behavior through a Virtual POS as opposed to traditional ones. As customer experience has become essential for digital businesses, payment services are evolving to provide faster and safer solutions and interactions between merchants and consumers. One of them is the Virtual POS (Point-of-Sale) Terminal, a solution that simplifies the credit and debit card processing, and reduces the inconvenience associated with additional hardware and software.

How a Virtual Terminal Works?

Have you heard the term “virtual terminal” and wondering what it is? In basic terms, it is the way credit card processing is done on the Internet. When you have a website, for instance, that has a store where you sell goods or services, you will need a virtual terminal in order for customers to pay. You can generally use a virtual terminal for any online transaction. The technical term for this transaction is a “card-not-present transaction” as the credit card will not be used to swipe. Instead, only the information from the credit card will be used.

If you want to open your online shop in internet from where you can sell your products and services 24 hours in 7 days, BKT offers ecommerce service in a secure environment for your customer payments.

Features & Benefits:

The benefits of using BKT ecommerce:
  • You can accept payments with all the cards that bears the VISA, MASTERCARD logo; (debit/credit cards)
  • You can accept payments in a simple and secure way; Each business that will be partner in this service will become a member of “MasterCard Secure Code” and Verified by Visa” program;
  • You can keep track of your sales through a details reporting interface; the interface enable you to extract reports for the sales performed in your online shop and to integrate this information in your other systems;
  • You can get payments in EUR/LEK or both currencies,
  • You can offer bonus to your clients and become a member in our merchant network and the clients can spend the points gained in BKT bonus merchant network

Beside the standard sales BKT is the first and the only bank in the market that offers installment sales even in ecommerce.

Website requirements for e-commerce:

If you want to give online shopping opportunity to your customers, you should make some developments in your web page to offer some product/services to be selected by the customers. And your website should meet the requirements of Visa/Mastercard  standards as below.
  • You must keep correct and updated contact information.
  • The prices and details of the products or services you offer must be specified.
  • If the company is going to sell in foreign currency, it is requested to display the exchange rate on the web page.
  • Customer service contact phones and e-mail addresses should be included.
  • In addition, company information should be available on the site. (Trade name of the workplace, country of residence of the workplace and workplace address)
  • Import restrictions should exist, if any.
  • Information about the privacy policy, Security Policy, Cancellation-Return Policy, Distance Sales Contract or the Service Agreement, General Terms of Transactions, place of jurisdiction / place of delivery, and delivery for the service sites must be available on your website.
  • Depending on the field of activity of the product offered, if there are licenses and documents required by the relevant authorities, these documents should be submitted to the bank.
  • The payment page should include the option to pay by credit card.
  • The web page should contain the product catalog and shopping cart.
  • The work of all links on the site of the workplace is also an important consideration.
  • Bank logos should be displayed on your website according to Visa and Mastercard or the bank applied for.
  • Products that are forbidden to be sold within the framework of legal regulations should not be sold on the site. The biggest problem is gathered at this point. Unfortunately, many companies may reject virtual pos requests due to any product available on their website. For this reason, getting the opinion of a lawyer on this subject before applying to virtual mail will shorten the virtual pos procedure, which can sometimes take a long time.
3D Secure: (BKT VPOS product is already including 3D secure)
3D Secure Platform is required by virtual pos and online payment systems, it will make a positive opinion both for the consumer and the bank regarding the security of your site.
In this system, developed by Visa and Mastercard, in order to increase the security of online shopping, the cardholder is directed to the credit card bank website used during the payment process, and then the approval is made with the one-time password to the mobile phone registered in the bank system.
When the card information is wanted to be used by other people, you contribute to the secure shopping of your customers in electronic environment, since the payment is made with the password sent to the cardholder's mobile phone registered at the bank.
The application of the system prepared for the use of Visa credit cards is called "Verified By Visa" and the application prepared for the use of Mastercard credit cards is called "SecureCode".

VPOS integration to applications is also possible.
BKT is giving 2 different options to merchants for VPOS integration depending on website security level. Website with SSL certificate (suggested)
SSL /Secure Socket Layer: Encrypting data transmission over the internet is very important in e-commerce. Now every e-commerce site must have an SSL and encrypt the data on the site. SSL certificates also offer these encryption features.
In order for companies to use Virtual POS, they must have an SSL certificate and this certificate must be installed. There are SSL certificates that offer 128-bit or 256-bit security. Although many e-commerce companies around the world use 128-bit security layer, in recent years, there are companies that offer a safer shopping environment by increasing the security layer to 256 bit.
SSL certificates ensure that data on a website is encrypted and transmitted to the other party. For example, when a customer enters their personal information and credit cards and gives payment confirmation, this information is encrypted via SSL and transmitted to the bank. In this way, third parties cannot access this data. The difference between 128-bit and 256-bit security additions comes from these encryption methods. The 256-bit encryption method offers a more comprehensive encryption system compared to 128-bit.
If your website has not SSL certificate, BKT can only give you “merchant safe” option to close this gap.

Virtual Pos Application Requirements:

To look at the application procedures for Virtual Pos and online payment systems;
First of all, they need to apply to the bank. The applicant (or representative) must be the owner of the website.
If you applied for virtual pos, you need to open an account at that bank. This process of opening an account may vary depending on various reasons such as the institution of the company and the type of company. Although it varies according to the banks to open a bank account, the general required documents are as follows;
  • KSHBB 002 + KSHBI 009 For Administrator. (General agreement including terms and conditions and legal framework of the business relationship between the bank and the customer)
  • Declaration shareholder form (if more than 1 shareholder).
  • Statute (if it is Shpk or Sha)- you can download online from QKB.
  • Foundation Act (if they have).
  • NIPT.
  • Extract from QKB downloaded from E-albania.
  • After this to follow with POS installation.
  • Merchant Form to be fulfilled by branch staff with merchant information
  • After getting confirmation V-POS agreement is signed.
  • BKT technical team will give detailed technical integration manual to give directions companies IT team (or it may be a contracted software company giving technical service to the merchant)
  • BKT technical team will check web site requirement fulfilled/not
  • BKT will give test account before going live.
Before starting implementation and maintenance, fee must be paid in branch 170 euro + 110 euro.