Virtual terminal features: different advantages
Both virtual terminals have essential functions, but the extra features divert quite a bit.
With PayPal Virtual Terminal, you can create keyed-in sales or preauthorisations where you check the legitimacy of a card.
Square does not have a preauthorisation option, but is able to split a payment into several payment methods including debit or credit card, cash, gift card or other means of payment. You can even connect Square Terminal with the virtual terminal, allowing you to create a sale on a computer and send it (remotely, if you like) to the card machine for a contactless or chip payment.
You can also add VAT, tips and discounts to Square’s virtual terminal sale. PayPal doesn’t have a tipping or discount option, but lets you add tax and a shipping charge.
PayPal accepts many different currencies, whereas Square only accepts GBP if the account is based in the UK. Accepting foreign currencies is really handy for some international merchants, especially as PayPal can store these in separate balances in the online business account.