First, take down the make and model of your current POS terminal. Then call your merchant service provider. The best thing to do is speak to a knowledgeable support representative, and let him or her know what you are considering doing with your phone/internet system. The support rep will help you find the right type of credit card processing device to match your planned system upgrade.
Virtual terminals are either web or PC based programs that allow your computer to become the POS terminal (i.e. National Debit Card Networks’ SafePay). Credit card information can be manually keyed in, submitted via shopping cart, or, if you do face-to-face business, a card reader can be connected to the computer via USB cable for swipe capability.