Virtual POS terminal / POS terminals for your business / Business / Fibank

Virtual POS terminal

Secure real-time payments

Accepting card payments through a virtual POS terminal

If you provide online services, the Virtual POS Terminal service enables you to accept card payments in real time through a virtual POS terminal device registered with Fibank.

Payments with Maestro, Visa and MasterCard cards issued by local and foreign banks can be accepted through the virtual POS terminal.

The service is intended for legal entities, registered in the territory of the Republic of Bulgaria, which sells goods/services remotely via the Internet through an electronic system (online shop, website, mobile application, reservation system, etc.).

With Fibank's Virtual POS Terminal service:

You work easily, conveniently and securely:

by offering your customers the ability to make secure payments in real time with their preferred card:
- the customer enters their card details in a secure environment - on the Bank's payment page. The retailer's electronic system does not have access to the card details at any moment during the payment process. The connection between the retailer's electronic system and the banking system is protected by modern, cryptographic mechanisms.
you receive regular statements on payments made and the movements on the company account, thereby improving accountability;the opportunity to accept periodic payments and/or subscriptions.

The conditions we offer:

Virtual POS terminal:
- free activation;
- no maintenance fee for the terminal device;
- free technical support.
Special financial conditions:
- special conditions for opening a current account with First Investment Bank servicing payments from POS terminals – with no opening fee and no minimum balance on account requirement;
  This account may be opened upon submission of the application for registration at the virtual POS terminal by the retailer and the approval of this application by the Bank.
- a lower fee for servicing the current account with a service included in My Fibank online banking;
- free issuance of business debit card to the POS terminal account;
- certification of accepted payments on the second business day from the date of the transaction;
- timely statements with detailed information on card payments made through the terminal devices for My Fibank users;
- free electronic statements on the account servicing the POS terminals through My Fibank online banking service.

Application

Requirements for the retailer's electronic system:

The retailer's electronic system (online store, mobile application, website, reservation system, web platform) should enable the end user to obtain complete information on each of the goods/services sold. The user should be able to place their order through a clear process of steps. All details related to the process of sales through the electronic system of the retailer (Rights and obligations of the retailer and the consumer; Process of execution of the order by the consumer; Terms of filing a claim; Warranty conditions; Conditions for delivery, etc.), must be described in detail in the General Terms and Conditions for Sales published in the relevant retail’s electronic system.

Steps to file an application and activate the service:

1. Download the Virtual POS Terminal Registration Application

Fill in, sign and stamp, print in one copy and submit it to a bank office.
On-site at the bank office you will also be provided with a virtual POS terminal payments contract.

2. Copies of the following documents must be enclosed to the completed virtual POS terminal application form:

a copy of the identity card of the manager (the proxy);
current status of the company from the Commercial Register;
Memorandum (By-laws/ Articles of Association); • copies of a document proving ownership (rights to use) of the commercial website domain;
a copy of a contract with a courier company (if any);
a license, a certificate, etc. a document issued by state or municipal bodies, if required for the respective activity.

3. Minimum requirements for the website:

When submitting an application for a virtual POS terminal, your electronic sales system (online shop, website, mobile application, etc.) must be in the development stage, which allows inspection to be performed by the Bank.
The user interface in the system needs to be developed, the relevant goods/services have to be available in the electronic system with published prices and the relevant information for each good/service (description, characteristics, warranty conditions, etc.).
To be able to inspect the process of creating and completing the electronic order by the consumer in the retailer's electronic system.
In the relevant electronic sales system must be published the general terms and conditions for making online sales through this system detailing all aspects covering the performance of this activity: the rights and obligations of the retailer and customers; the method of ordering goods/services; rules and policies for filing claims and returns/cancellation of purchased goods/services by customers; conditions, prices and terms for fulfilling the orders and delivery of the relevant goods/services;
It is necessary to publish all details of the legal entity (name, UIC number, court registration address, addresses, telephone numbers and contact emails for users).
In order to proceed to the process of reviewing the application form for a virtual POS terminal, all described requirements must be fulfilled.

4. Upon successful completion of the electronic sales system inspection process and receiving the Bank's approval, the virtual POS terminal shall be defined in the Bank's test system.
5. The retailer's technical team shall establish connection between the retailer's relevant electronic sales system and the virtual POS terminal defined in the test banking system for per
forming online card payments. This process must be carried out in accordance with the instructions for integration of online retailer, which you can download from here.