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Online debit cards are cards that access deposit accounts. Online debit cards bear one or more brands of regional electronic funds transfer networks, and they can be used to perform automated teller machine (ATM) transactions or to pay for goods and services. When cardholders use an online debit card to make a purchase, they enter a personal identification number (PIN) for identification and the transaction is authorized against the available balance in the cardholder's deposit account.
| The Solution |
The online debit card payment processing services are the most comprehensive available, providing everything a retailer needs to accept MAC®, Star®, NYCE®, Pulse® and other major debit network cards. Our end-to-end services include: |
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Point-of-sale equipment for purchase or lease
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Support for all well-known terminal and electronic register manufacturers
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Sponsorship into all major debit networks
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Front-end on-line debit card transaction authorization and data capture
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Debit transaction settlement between the debit networks and the retailer
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Funds movement between the debit networks and the retailer according to the retailer's business day
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Online access and reporting
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| Benefits |
Driving this rapid growth in online debit payments are the significant advantages they bring to retailers when compared to payments made by cash or check: |
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Increased sales due to higher average ticket size (verses cash) and higher incidence of impulse purchasing
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Lower risk transaction compared to checks, because the transaction is authorized online against cardholder's balance
- Lower transaction costs than credit cards or offline (check card) debit transactions
- Less fraud potential than other payments, because the cardholder's personal identification number (PIN) replaces the signature
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