What is Virtual POS?
Also known as: Sanal POS
A virtual POS is a merchant account that a bank assigns to a business so it can accept card payments online. It is the online equivalent of a physical POS terminal; card payments made on a website, mobile app or payment link reach the bank through the virtual POS. The term is widely used in Turkey.
How does Virtual POS work?
- The business signs a merchant agreement with a bank, which sets commission rates, settlement timing and instalment options.
- The business integrates with the virtual POS using the bank's documentation or through a gateway connected to the bank.
- The customer's card details and amount are sent to the virtual POS, the bank approves the transaction and funds are settled to the business account under the agreed terms.
Key points
- Each virtual POS is tied to a single bank
- Commission, settlement and instalment terms differ from bank to bank
- If the card belongs to the POS bank the transaction is on-us; otherwise it is not-on-us
Virtual POS with Treps
Treps combines a business's virtual POS accounts at different banks into one API and one dashboard, so there is no need to integrate with each bank separately, and each transaction is routed to the virtual POS where it is most advantageous.
Frequently asked questions
What is the advantage of using multiple virtual POS accounts?
Wider instalment options, lower commission per bank and the ability to keep selling through another bank when one has an outage. The downside is separate integration and reconciliation work for each bank — payment orchestration removes that overhead.
What is the difference between a virtual POS and a payment institution?
A virtual POS is obtained directly from a bank. Payment institutions (licensed PSPs) offer payment acceptance on their own infrastructure; the business signs with the payment institution rather than the bank.