Debit and check card processing services can help save your business time and risk by taking more secure transactions. With PIN-based debit you can cut out your discount rate and pay a flat per-item fee while also eliminating the risk of chargebacks.
What's the difference between a debit card and a check card? A debit card works nearly the same way as processing a credit card except the funds are taken directly from the customer's bank account by using a secret PIN. A check card works the same way, but you can sign for the purchase as an alternative to using a PIN. A check card is easily identified by the Visa or Mastercard logo on the card.
We offer a variety of ways to accept these transactions. Whether you want an all-in-one unit or a more customer-convenient PIN pad, Goodpaster Merchant Solutions has multiple solutions for your business.
A PIN debit payment is one of the most secure types of transactions because the customer must verify their identity with a specific 4-digit PIN. Currently, there is no way to pay online with PIN debit, but there are two ways you can accept debit at your retail or "over-the-counter" location:
External PIN pad: an extra piece of equipment connected to your terminal so your customer can enter their 4-digit PIN for the transaction
Internal PIN Pad: an extra application added to certain terminals, eliminating any extra equipment to enter a 4-digit PIN. The disadvantage to this is that most merchants do not want to give customers direct access to their terminal since customers can only type in their PIN through the main keypad on the credit card processing machine.
Signature debit can be used by customers with a check card who do not want to use their PIN. The disadvantage of your customer not using their 4-digit PIN is that you will not be able to receive the per-transaction debit fee and instead will have to pay a discount rate. Because of this, we suggest all retail merchants encourage their customers to use their PIN instead of signing.
Debit cards are becoming the most popular type of payment option with consumers because they can take the money directly out of their checking account without having to write a check. Nearly all retail businesses can benefit from the use of adding an inexpensive PIN pad to their countertop terminal due to the savings through the per-item fee. Merchants are also protected from chargebacks since PIN debit transactions cannot be charged back. You also have the ability to give your customers a cashback option on these transactions.
Goodpaster Merchant Solutions will assist you with
If you are interested in a debit card processing system, Goodpaster Merchant Solutions is here to help. We can assist you with a variety of merchant services that can benefit your business, and a debit card processing system is one of them. Please contact us here or call us at 765-662-1554 to get started today.