| Debit
cards are growing in popularity among customers
as a form of payment. Debit cards withdraw
funds directly from the customer's bank
account, allowing customers to have the
convenience of a credit card, but the backing
of cash. Debit cards carrying the brand
credit card logos can be processed the same
way as credit cards, at a slightly higher
rate.
To receive the best rate
for debit card transactions, a pin pad can
be installed to allow customers to enter
their debit card pin code. Using this
method not only offers the customer a cash-back
option, but also reduces your rate, either
by having a low percent fee or a low flat
rate per item. In addition, debit transactions
processed through this method are not subject
to chargebacks, funds are guaranteed, and
processing is immediate, eliminating the
2-3 day delay between transaction and transfer
of funds with credit cards. To set
up your processing system to accept debit
cards using the pin pad method, contact
our office.
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