Pin-Pad Debit

Debit transactions are classified into two categories:

1.) PinPad Based Transactions. If a merchant has the added feature of a pinpad the customer will have the ability to enter in their 4 digit pin code. The process is similar to a standard credit card transaction. The merchant will run the card through the terminal and then prompted to ask the merchant for their 4 digit pin code. The merchant is only charged a transaction fee for this service, no discount rate.

Savings Example:

Its clear that Debit has many advantages with its main feature being the lower cost of such transactions. For example: A business typically processes $20,000 a month worth of credit card processing with an average ticket of $40.00. Their discount rate is 1.80% and .25 cents a transaction. paying $485.00 in fees. Statistics show 10% of these sales will fall into a debit tier if a PinPad were available. The debit transaction fee would be just .65 cents with NO discount rate. At 10% falling into debit you would get total fees of $436.00 a month with a total savings of $49.00 a month.

Benefits for Merchant

  • Lower Credit Card Processing Fees
  • Expand Market of Customer Base
  • Multiple Debit Networks Available
  • Lower Risk and Chargebacks
  • Customer Benefits
  • Customer Loyality

Benefits for Customer

  • More Payment Options
  • Cash Back Features
  • Checkcard Reward Features
  • Security of Transaction

2.) Offline Debit - Signature Based. Customers have the choice to run their debit card or check-card as debit or credit. Have you ever been to the grocery store and been given the option, "Debit or Credit". Most merchant service providers will charge the transaction as a typical credit card if the customer decides to run it as credit. However, these costs are substantial lower to the merchant service provider. ProcessigPoint believes in passing this savings to the merchant and offers a lower Offline Debit rate.

There are many type of Debit networks available for this program.

Regional

  • Yankee
  • TYME
  • STAR
  • Shazam
  • Pulse
  • NYCE
  • MoneyStation
  • Magic Line
  • MAC
  • Honor
  • Cash Station
  • Alaska Option
  • Accel

National Networks

  • AFFN
  • Maestro
  • Star
  • Interlink