Merchant Account PIN Debit Explained:
What is PIN Debit? PIN Debit transactions occur when a customer slides his/her debit card through a card reading device and then enters a Personal Identification Number (PIN) to verify authorization of the sale. Merchants must be specifically set up by their merchant account provider to accept PIN debit transactions and will also need a pin-pad attached to their credit card terminal.
PIN debit transactions are considered one of the most secure forms of card payment because the magnetic strip of the card is swiped through a reader, a PIN is entered and the funds are immediately removed from the customer’s attached account. Since the potential for fraud is greatly reduced, the processing fees for PIN debit transactions are the lowest of all card/transaction types and are not subject to Interchange fees.
About Phillip Parker
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Why I'm Qualified to Write About Credit Card Processing
I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so built this website to help small business owners research which service providers to use and how to save money on rates and fees. 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 here. I can help you save money with your current merchant account or help you find a new one. Message me here to get started.
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