Virtual POS terminal

Secure real-time payments

Our offer

By May 31, 2020, you may benefit from the promotional conditions of commissions for accepting card payments: By May 31, 2020, you may benefit from the promotional conditions of commissions for accepting card payments: 

  • 0.5% for Maestro/Borica cards, regardless of the issuing bank;
  • 1.4% for prepaid Visa/Mastercard debit and credit cards, regardless of the issuing bank. 
Promotion: 

The virtual POS terminal from Fibank provides the opportunity to accept secure payments with Visa and MasterCard cards in real time regardless of the issuing bank.

 

The service is intended for legal entities registered in the Republic of Bulgaria, which sell goods/services remotely via the Internet through electronic systems:

  • online stores
  • mobile applications
  • digital platforms
  • booking systems, etc.

 

With the "Virtual POS Terminal" service from Fibank:

You work easily, conveniently and securely:

  • you offer your customers the opportunity to make secure payments in real time;
  • real-time transaction monitoring;
  • ability to accept periodic payments and/or subscriptions;
  • quick and easy integration with the banking platform.

 

The conditions we offer you:

Virtual POS Terminal:

  • free activation;
  • no terminal device maintenance fee;
  • free technical support.

Special financial conditions:

  • special conditions for opening a current account at First Investment Bank, servicing payments from POS terminal devices;
  • lower fee for servicing the current account with the included service in My Fibank electronic banking;
  • preferential fees for servicing card payments transactions;
  • free issuance of a business debit card to the account at the POS terminals;
  • verification of accepted payments on the next business day from the date of the transaction;
  • timely statements with detailed information about card payments through the terminal devices for My Fibank users;
  • individual service and assistance in matters related to the virtual POS terminal

 

o free electronic statements on the account servicing the POS terminal devices, through My Fibank electronic banking service.

Application

Requirements for the merchant's electronic system:

The merchant's electronic system (online store, mobile application, website, booking system, web platform) must provide the end user with the opportunity to obtain complete information about each of the goods / services sold. The user must be able to place his/her order through a clear process of several steps. All details related to the process of making sales through the merchant's electronic system (Rights and obligations of the merchant and the consumer; Process of placing orders by consumers; Conditions for filing complaints, Warranty conditions, Conditions for delivery, etc.) must be described in detail in the General Terms and Conditions for making sales, published in the relevant electronic system of the merchant.

 

Steps for submitting an application and activating the service:

  • Download the Application for registration of a virtual POS terminal. Fill in, sign and stamp, print out one copy and submit it to the bank office, together with the following documents:
  • copy of the ID card of the manager (authorized representative);
  • certificate of good standing of the company issued by the Commercial Register;
  • Articles of Association (By-laws / Partnership agreement);
  • copies of a document proving ownership (rights to use) of the domain of the company website;
  • copy of a contract with a courier company (if one has been concluded);
  • license, certificate or other document issued by state or municipal structures, if required for the relevant activity.
  • On site at the bank office, you will also be provided with a contract for payments via a virtual POS terminal.


Minimum requirements for the site:

  • When submitting an application for a virtual POS terminal, your electronic sales system (online store, website, mobile application, etc.) must be in a development stage that allows for an inspection by the Bank.
  • It is necessary for the user interface in the system to be built, the relevant goods/services to be available in the electronic system with published prices and the relevant information for each good/service (description, characteristics, warranty conditions, etc.).
  • It must be possible to inspect the process of creating and completing an electronic order by the user in the merchant's electronic system.
  • The General Terms and Conditions for conducting online sales must be published, which must describe in detail all aspects covering the implementation of this activity: rights and obligations of the merchant and consumers; method of placing an order for goods/services; rules and policy for filing complaints and returns/refusal of purchased goods/services by consumers; conditions, prices and terms for the execution of orders and delivery of the relevant goods / services;
  • All details of the legal entity (company name, UIC number, court registration address, addresses, telephone numbers and email addresses for contact by users) must be published.

In order to proceed to the process of considering an application for a virtual POS terminal, all the described requirements must be met.

 

Technical information:

• The Merchant's technical team must establish a connection between the Merchant's relevant electronic sales system and the virtual POS terminal defined in the test banking system for the execution of online card payments. This process must be carried out in accordance with the online merchant integration instructions, which you can download from here.