Merchant Account Glossary:

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 Phillip Parker

Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance.

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