Debit processing has been gaining popularity for more than a decade as consumers discover its convenience and merchants realize the increase in sales that follows the acceptance of debit. Debit processing offers the flexibility, security and convenience crucial in payment processing. By giving your customers the ability to use debit cards, you gain the benefits of a simple and highly secure payment option.
Signature-based debit transactions are performed offline and do not require a PIN. They do, however, require the customer's signature on the receipt. Because signature-based debit cards are processed through the same system as credit cards, they incur transaction fees and discount rates. Merchants who have existing credit card accounts can easily add signature-based debit to their list of payment options and broaden the number of payment options they provide to their customers.
PIN-secured debit purchases use a secret personal identification number (PIN) to authorize purchases. The transactions are authorized in real time. The funds in the customers' accounts are captured, and money is normally transferred into the merchant's account in one to two business days.
When a debit card is issued, the account holder selects his or her own Personal Identification Number (PIN) that must be used when the card is processed instead of a signature or ID. Entering a PIN ensures that all of the transactions you accept are highly secured. With direct access to all of the major debit networks, Englobe can service you regardless of your location. Safe, easy and inexpensive, Englobe makes it simple to accept debit and ATM cards.
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