Debit Card and ATM processing
Debit/ATM cards allow customers to deduct funds for purchases from their bank account. A debit card requires a PIN number to be entered before a purchase can be complete. You can easily identify check cards as they will have the familiar Visa or MasterCard logos on them.
The process works just like accepting credit cards except when you enter in the customers debit card information the amount to cover the purchase is deducted from the customers' bank account.
A verification service is included for accepting debit cards. The verification service will check a negative database of bad check writers. This will drastically reduce the number of bad checks you might would receive.
In case you operate a retail establishment you can save bundles on processing costs by accepting Debit/ATM cards with the addition of a PIN Pad. Unless the swipe terminal you're using includes an internal PIN pad, you will want to invest in an external one.
Debit card processing like a credit card requires double the processing fee. It is better to use the PIN number to carry the transactions by the customers, a PIN pad being used by the Merchant. By using a PIN pad for Debit/ATM transactions you only pay a per transaction fee (between $0.35 and $0.55), no discount rate of any kind. Also, it should be noted that in order to ONLY incur a per transaction fee the customer MUST input their 4-digit PIN number into the PIN pad or your processing terminal (if the unit has an internal PIN pad).
If you're an Internet merchant you will still incur the same charges for Debit card processing as you do with credit card processing. There is currently no special Debit card acceptance system in place that only incurs a per transaction fee for Internet businesses.
The process works just like accepting credit cards except when you enter in the customers debit card information the amount to cover the purchase is deducted from the customers' bank account.
A verification service is included for accepting debit cards. The verification service will check a negative database of bad check writers. This will drastically reduce the number of bad checks you might would receive.
In case you operate a retail establishment you can save bundles on processing costs by accepting Debit/ATM cards with the addition of a PIN Pad. Unless the swipe terminal you're using includes an internal PIN pad, you will want to invest in an external one.
Debit card processing like a credit card requires double the processing fee. It is better to use the PIN number to carry the transactions by the customers, a PIN pad being used by the Merchant. By using a PIN pad for Debit/ATM transactions you only pay a per transaction fee (between $0.35 and $0.55), no discount rate of any kind. Also, it should be noted that in order to ONLY incur a per transaction fee the customer MUST input their 4-digit PIN number into the PIN pad or your processing terminal (if the unit has an internal PIN pad).
If you're an Internet merchant you will still incur the same charges for Debit card processing as you do with credit card processing. There is currently no special Debit card acceptance system in place that only incurs a per transaction fee for Internet businesses.
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