Electronic Benefit Transfer (EBT) Definition

Merchant Account Electronic Benefit Transfer Explained:

What is EBT? EBT, or Electronic Benefit Transfer, is a system that allows state welfare recipients to pay for their goods using a card with a magnetic strip. This form of payment has replaced the Food Stamp Program, which issued paper coupons to recipients. EBT cards, which function as PIN-debit cards, may be used to pay for USDA-authorized groceries through the federal Supplemental Nutrition Assistance Program (SNAP) or to buy goods with cash benefits issued at the state level or through Temporary Assistance for Needy Families (TANF).

EBT transactions are processed in a way that is similar to PIN-debit transactions. A customer swipes the card through a point-of-sale terminal and enters a secret PIN to authorize the purchase. The funds are then deducted from the benefits account associated with the card. It is illegal for anyone to charge card processing fees for acceptance of EBT SNAP cards, but surcharges may be added to cash benefit cards.

Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

Submit a Statement

  • Accepted file types: jpg, png, pdf, xls, xlsx.

No Reviews Yet Leave Your Review Below

Leave a Review

Your email address will not be published. Required fields are marked *

Please do not use profanity or ALL CAPITAL LETTERS in your review. Reviews must provide a detailed account of your experience. By submitting a review or comment to CPO, you are agreeing to our Comment Policy.