7 Best Virtual Terminals for 2026

Why I chose Helcim

Helcim is a traditional merchant account services provider known for its free and automated payment processing features, including a virtual terminal. You can use the virtual terminal to accept one-time and recurring payments from an unpaid invoice or simply from pulling up a customer profile. It can process credit card, ACH, and EFT payments. Plus, Helcim has tools for free credit card processing that you can access any time, which pass along the processing fees to your customers. 

I chose Helcim for its strong cost optimization features. Aside from zero monthly fees and interchange plus rates, what makes Helcim stand out is its automatic volume discounts. In other words, your per-transaction fees will decrease automatically as your business scales and hits certain processing volumes. For B2B businesses, Helcim’s payment processing features automatically pull level 2 and 3 data so every qualified transaction can get discounted rates.

This makes Helcim the ideal solution for fast-growing small and mid-size businesses in industries like retail, professional services, automotive, healthcare, education, and wholesale.

Choose Helcim if: You want a low-cost virtual terminal with no monthly VT fee, interchange-plus pricing, ACH support, invoicing, recurring billing, and room to grow.

Avoid Helcim if: You are a brand-new business that needs instant approval or you prefer a flat-rate processor with minimal underwriting.

Related: B2B payments guide

Why I chose Payment Depot

Payment Depot supports a variety of virtual terminal platforms from popular payment gateway integrations such as NMI, Authorize.net and PayTrace. There are no additional monthly fees, as Payment Depot’s custom pricing already includes every payment service that a business opts into, including a virtual terminal.

Until recently, Payment Depot operated under a similar subscription model (wholesale transaction rate + monthly fee) used by its parent company, Stax. It has since remodeled to custom interchange plus pricing. This makes Payment Depot more affordable and attractive to mid-size businesses that have yet to reach volume levels that can maximize savings with a monthly fee and wholesale rates.

Choose Payment Depot if: You process steady monthly volume and want custom interchange-plus pricing with access to multiple virtual terminal options, such as NMI, Authorize.net, or PayTrace.

Avoid Payment Depot if: You need same-day funding, built-in ACH without an add-on, or a processor that supports businesses outside the US.

Why I chose PaymentCloud

PaymentCloud is a traditional merchant services provider that supports all types of payment processing methods. While it caters to nearly all business types, PaymentCloud is particularly known for its expertise in working with high-risk businesses, which no other provider in our list can do. Virtual terminals are in-demand among these business types because most of these companies accept mail-order/telephone-order (MOTO) payments.   

I especially like PaymentCloud’s attention to detail when handling accounts for high-risk merchants. It works with clients right from the application to provide the highest chance of being approved for a merchant account. I also like PaymentCloud’s flexibility as it can customize its rates based on what a potential client is familiar with and adapt the customer’s current payment gateway platform avoiding business downtime.

Choose PaymentCloud if: You run a high-risk business, accept MOTO payments, or need help getting approved for a merchant account with gateway flexibility and chargeback support.

Avoid PaymentCloud if: You want transparent published rates, instant setup, or the lowest monthly software cost.

Why I chose Stax

Stax is a popular merchant services provider, offering wholesale interchange rates ideal for high-volume businesses. Its virtual terminal is built into Stax Pay, allowing businesses to accept card and bank payments, set recurring transactions, send invoices, payment links, and even SMS to collect payments. 

What’s also great about Stax is that it offers a range of products that can easily keep up with fast-growing businesses and large, enterprise-level companies. For example, Stax Bill offers advanced billing and recurring payment services for businesses that run subscriptions. There’s also Stax Connect for software vendors that want to integrate an end-to-end payment processing service to their software platforms (SaaS). 

Choose Stax if: You process enough volume to justify a monthly subscription and want wholesale-style transaction pricing with strong invoicing, recurring billing, and reporting tools.

Avoid Stax if: You process low or inconsistent monthly volume. The monthly fee can outweigh the savings if your virtual terminal use is occasional.

Learn more: Cheapest credit card processing companies

Why I chose Square

Square is the ideal all-in-one business solution for new businesses. There are no monthly fees for using its payment processing service, which comes built into Square’s suite of POS software. Square’s virtual terminal is also free with every merchant account and can just as easily handle all the payment methods supported by the other providers on our list. You can use it to manually enter card information, record a cash or check payment, and send a payment link. But what makes Square stand out from the rest is its overall small and new business friendly features.

Unlike Helcim, Payment Depot, PaymentCloud, or Stax, there is no application process to go through with Square, making it ideal for startups that don’t have a payment processing history. I particularly like how Square offers an all-in-one business solution of POS, hardware, ecommerce, and payments processing with the most feature-rich free account you’ll ever find in the market today. And while flat rate fees are not as cost-effective as interchange plus rates, this pricing structure is simple to manage particularly for new merchants. Square even offers proprietary business management tools, most of which you can get for free.

For larger businesses, Square now has an enterprise solution that allows you to create customized POS and payment processing platforms that will work with your current business set up. You can also qualify for custom rates if you process more than $250,000 in annual sales. However, note that you can only process ACH payments on Square’s virtual terminal if the transaction goes through an invoice. And while you can accept credit card payments from other countries, you will only be able to hold funds in your local currency.

Choose Square if: You are a new or small business that wants a free virtual terminal, fast setup, built-in POS tools, invoices, payment links, customer profiles, and simple flat-rate pricing.

Avoid Square if: You process high monthly keyed-in volume or need custom underwriting, high-risk approval, or the lowest possible interchange-plus rates.

Learn more: Best mobile credit card processors

Why I chose PayPal

PayPal is the pioneer of mobile payment platforms and the most trusted brand with over 400 million active users around the globe to date. Like Square, the merchant account is easy to set up and free to use with no long term contracts. And while it can’t match Square’s versatile POS software options, PayPal stands out among my list of providers for its ability to handle 100+ currencies, making it the best mobile payment solution for businesses that accept international payments.  

As a virtual terminal I particularly like PayPal because of how easy it is to use. While I can say the same for other contenders like Helcim, Square, and CardX which I all tried, PayPal’s layout and interface is simply more user-friendly. Whether you are preparing a quick manual order, pulling an outstanding invoice, or creating an invoice within the virtual terminal itself, all you need to do is choose a different option from the choices in the dropdown boxes. Plus, you also get instant access to your funds from your PayPal balance.

A few caveats if you choose PayPal though: First, its virtual terminal can only process credit and debit card payments unless you use PayPal enterprise to upgrade the service with developer tools. Second, unlike Square and Helcim, PayPal charges a monthly fee to use the virtual terminal platform. Third, manual payments processed on the customer’s behalf are not covered by PayPal’s seller protection policy so make sure to have solid chargeback protection protocols in place to protect you from fraudulent claims. 

Choose PayPal if: You need a recognizable payment brand for remote and international customers, or you already use PayPal for online payments and want to keep payment activity in one ecosystem.

Avoid PayPal if: You mainly need a low-cost US virtual terminal. The monthly VT fee and transaction costs can make PayPal less competitive than no-monthly-fee providers.

Related: Best online payment processors

Why I chose CardX

CardX is the leading expert in credit card surcharging services and is the exclusive surcharging partner for Mastercard. It comes with built-in invoicing and a virtual terminal feature that users can access at no extra cost. CardX also provides businesses with the necessary surcharging signage and staff training to assist with start-up. 

I chose CardX primarily for its credit card surcharging service. While other merchant account service providers in this list, like Helcim and PaymentCloud, also offer this feature, it’s hard to ignore CardX’s expertise. This makes CardX an overall more reliable solution for businesses where credit card surcharging is a key consideration. 

However, like PayPal, CardX only supports credit and debit card payments, which is partly why the two land at the tail end of this buyers’ guide. CardX also charges a monthly merchant account fee which may be a deal breaker for those looking to minimize their monthly operating expenses, but keep in mind that the surcharging means there are no transaction fees to be paid unless your customer uses a debit card. CardX also does not charge extra for its subscription/recurring billing tools which will cost you an additional $10 per month with PayPal.

Choose CardX if: You want a virtual terminal built around surcharging and need automated tools to help pass eligible credit card processing costs to customers.

Avoid CardX if: You operate in a state or industry where surcharging is restricted, or you do not want customers to see added card fees at checkout.