Collections · 11 min read · Updated:
What is a virtual POS and how do you get one? Commission, settlement times and choosing the right provider
You don't need a physical device to take card payments, but choosing the right virtual POS is a matter of contracts. We explain the types, the application and the items that make up the commission.
In short
- A virtual POS is a service that lets you accept card payments online without a physical device; it's offered by banks and payment institutions licensed by the Central Bank of the Republic of Türkiye (TCMB).
- A virtual POS application usually asks for a tax certificate, signature document, ID, an IBAN in the business's name and a website with its legal texts published.
- Virtual POS commission isn't a single rate: transaction commission, instalment cost, settlement time (blokaj), fixed fees and refund or chargeback costs need to be assessed together.
- 3-D Secure is the verification step where the cardholder approves the payment with a one-time code from their bank, and it reduces fraud risk.
- In Heyşirket, invoice collections work through the company's own iyzico account, with payment links and a Pay by card button in the email; the money goes straight to the company's account.
Your customer asks, "Can I pay by card?" If you don't have a shop or the customer is far away, a physical POS terminal is no use. This is where a virtual POS comes in: the card details are entered on a secure payment page and the money goes to your account.
But a virtual POS isn't like downloading an app; it's a contract with a bank or payment institution. The commission, when the money reaches your account, and the instalment and refund terms are written in that contract. In this article we explain what a virtual POS is, how to get one and what to look at when comparing offers.
- Payment page — Card details entered
- 3-D Secure — Bank code
- Authorisation — Card issuer approves
- Settlement wait — Per your agreement
- Reaches your account — Commission deducted
Part 1 · Definition What is a virtual POS?
A virtual POS (sanal POS) is a service that lets you accept credit and debit card payments online, without a physical device. The customer enters their card details on the payment page on your site, through a payment link, or in a secure form for a phone order. The cardholder's bank approves the transaction, and the amount is transferred to your account after the agreed period.
| Virtual POS | Physical POS | |
|---|---|---|
| Where is it used? | Website, payment link, app | Shop, till, delivery at the door |
| Is a device needed? | No | Yes |
| How is the card verified? | 3-D Secure code | Chip and PIN or contactless |
| Where is the customer? | Anywhere | In front of you |
| Typical use | E-commerce, remote sales, invoice collection | Retail, restaurants |
Virtual POS and payment links are often confused. The virtual POS is the infrastructure itself; a payment link is a link with a set amount that opens onto that infrastructure. We explain how links work in what is a payment link.
Part 2 · Types A bank virtual POS or a payment institution?
In Türkiye, virtual POS is offered by two kinds of institution: banks and payment institutions. Payment institutions operate under licence from the Central Bank of the Republic of Türkiye under Law No. 6493. Both accept card payments; the difference is in how easy it is to apply, the contract structure and extra services.
| Bank virtual POS | Payment institution | |
|---|---|---|
| Application | The bank's credit assessment; your branch relationship matters | Often an online application, faster |
| Which cards? | All cards; for instalments the bank's own cards come first | All cards; many banks' instalments in one contract |
| Where does the money go? | Your account at that bank | An account at the payment institution, then to your bank |
| Extra services | Varies by bank | Payment links, subscriptions, marketplace payments and more |
| Suits | High turnover, strong bank relationship | Newcomers, multi-channel sellers |
Part 3 · Application How do you get a virtual POS?
The process varies between institutions, but the steps are similar. What wastes the most time is missing documents and a site without complete legal texts; prepare these from the start and things move faster.
Steps in a virtual POS application
Get your site ready
Your products or services, prices, contact details, distance selling contract, pre-information form, return terms and KVKK privacy notice should be live. Institutions review the site during the application.
Gather the documents
Tax certificate; for a company, the signature circular and trade registry gazette; for a sole proprietorship, a signature declaration; the authorised person's ID and an IBAN in the business's name.
Compare offers
Get offers from at least two institutions. Look not only at commission but also at settlement time, instalment cost and fixed fees.
Sign the contract
Make sure commission, settlement, refund and chargeback terms are written into the contract.
Set up the integration
The institution gives you keys (API key, secret key). You enter them in your site or the software you use. Try them in the test environment first.
Make a test transaction
Once live, take a real payment for a small amount, refund it and check how it appears on the statement.
Part 4 · Cost What does virtual POS commission depend on?
Virtual POS commission is the share the institution takes from each successful transaction. But the "commission rate" alone doesn't show the real cost. When comparing offers, put the items below side by side. Since rates vary between institutions, turnover levels and sectors, we don't give figures here; just write the numbers from your offer into this table.
| Item | What it means | Question to ask |
|---|---|---|
| Transaction commission | Percentage taken from each single payment | Does the rate fall as my turnover grows? |
| Settlement (blokaj) time | Days before the money reaches your account | Next day or several days later? Does a shorter time cost extra? |
| Instalment cost | Extra cost of an instalment transaction | Does the customer pay it, or do I? |
| Fixed fees | Set-up, monthly or yearly fee | Do I pay in months I don't use it? |
| Fixed fee per transaction | A fixed amount per transaction on top of the percentage | What's the effect on small sales? |
| Refunds and cancellations | What happens to commission on a refunded payment | Is the commission returned on a refund? |
| Chargeback | The cardholder's dispute with their bank | What costs and documents are involved in a dispute? |
A simple method: take last month's sales and, for each offer, apply these items to calculate the total monthly cost. An offer with low commission but a long settlement time can squeeze your cash flow more. We cover the cash planning side in speeding up receivables collection.
Part 5 · Security 3-D Secure, card data and chargebacks
The biggest risk with a virtual POS is fraud: a payment made with stolen card details that the cardholder later disputes. Three concepts help you manage this risk.
- 3-D Secure: the cardholder approves the payment with a one-time code from their bank. It reduces fraud risk and strengthens your hand in a dispute. Don't switch 3-D Secure off.
- Card data: don't keep card numbers on your own site or in a spreadsheet. If you use the institution's secure payment form, the card details never reach you. Systems that process card data must comply with the international security standard PCI DSS.
- Chargeback: the cardholder can dispute a payment with their bank, saying "I didn't make this" or "the product never arrived". The institution will ask you for proof of delivery, contract consent or correspondence. Keep tracking numbers and order records.
Part 6 · Product How do you take card payments in Heyşirket?
In Heyşirket, card payments are used in two places, and in both the money goes straight to your account, not to Heyşirket. Card details never reach you or Heyşirket; payments are verified by the cardholder's bank with 3-D Secure.
| Where? | How it works | Plan |
|---|---|---|
| Invoice collection (pre-accounting) | You connect your own iyzico account; a Pay by card button is added to invoice emails, and you create payment links from the invoice details. When payment arrives, the collection is recorded on the invoice automatically. | Professional and above |
| Store (website) | The customer completes the basket by card, bank transfer or cash on delivery. Card payment is set up with the Heyşirket connection on the Integrations screen. | Professional and above |
Connecting iyzico for invoice collections
Get the keys
Copy the API key and secret key from your iyzico panel.
Open the collection setting
Go to Settings › Collections (card payments). Try it first with Test (sandbox) and test cards; no money is taken from real cards in this environment.
Choose instalments and account
If you like, use Offer instalments to allow up to 2, 3, 6, 9 or 12 instalments. Choose the cash or bank account where card collections are recorded.
Test and save
Press Test connection and save. Once the screen says "Connected", you can switch to the Live environment with your live keys.
Each payment link is valid for 60 days and asks for the full remaining amount on the invoice; card payment isn't available yet for invoices in foreign currency. For invoice collections, only iyzico is supported today; PayTR and Param are on the roadmap. Meanwhile, you can match bank transfers to invoices by uploading your bank statement. A summary of the feature is on the virtual POS integration page, and store payments are covered in starting to sell on your website.
What is a virtual POS?
A virtual POS is a service that lets you accept credit and debit card payments online without a physical device. It's offered by banks and licensed payment institutions; the customer enters their card details on a secure payment page, and the amount reaches your account after the agreed period.
How do you get a virtual POS?
You apply to a bank or payment institution. They usually ask for a tax certificate, signature document, the authorised person's ID, an IBAN in the business's name and a website with its legal texts published. After the contract, you enter the keys you're given into your site or software and test them first.
How much is virtual POS commission?
There's no single rate; it varies by institution, turnover, sector and instalment choice. To see the real cost, compare transaction commission, settlement time, instalment cost, fixed fees and refund and chargeback terms together.
Do I need a company to get a virtual POS?
You need a tax registration, but it doesn't have to be a company. Many institutions also offer virtual POS to sole proprietorships; the application asks for a tax certificate and a bank account in the business's name.
What is settlement (blokaj) time?
Settlement or blokaj time is how long you wait for a card payment to reach your account. It depends on your contract; some institutions offer shorter settlement for a higher commission.
Which virtual POS does Heyşirket use for invoice collections?
For invoice collections, the company's own iyzico account is supported today. When you enter the keys on the Settings › Collections (card payments) screen and test the connection, a Pay by card button is added to invoice emails. PayTR and Param are on the roadmap.
Let your invoices be paid by card Connect your iyzico account and try it with a test card; from then on every invoice email has a Pay by card button. Connect virtual POS
Author: Heyşirket Editorial Team