PIN Debit Definition

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 The Author

Phillip Parker

Phillip is a research analyst specializing in merchant services and credit card processing. He has nearly two decades of experience in card payment services, both as a former employee and as a professional business finance journalist. Phillip has written over 1,000 articles and reviews regarding payment services and the merchant account providers that market credit and debit card processing products and services to U.S. and Canadian businesses. In addition his contributions here, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others.

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Phillip Parker