Both Visa and Master Card prohibit a vendor from requiring a phone number, address, or other personal information as a condition of sale, it is a condition that the vendor agrees to if they want to accept the card.
If that's the case, it would appear the "Virtual Terminal" system violates this rule with every single credit card transaction. They actually provide specific boxes to enter the address and phone number as part of the confirmation process to be sure they match the billing information associated with the card. It's called fraud prevention and has become quite popular. These rules may be more dependant on the company or bank that is actually processing the credit card payment rather than the company issuing the card.