Save Up To 96% On Your Merchant Account Fees When You Process Debit Cards With A Pin Pad! By Gerald Kadish At Isnare.com Ezine Articles

Did you know that just by connecting a pin pad to the back of your credit card terminal you will pay only $.65 for a $1,000.00 sale? If you had run this card with out a pin pad at 1.69% + $.25 (A typical credit card and debit card procesing rate.) you would have paid $17.15! $.65 is the standard fee that a merchant is charged when their client enters their pin number on a pin pad to complete a sale.

Why are debit cards so much less expensive? A debit card is directly linked to the client's checking account, which guarantees that the funds are available for withdrawal, therefore reducing the risk of taking a bad card. In addition, only the original card holder will know the PIN for the card therefore reducing the risk of fraud. Also, transactions cannot "downgrade." With debit cards, you will always pay the same flat fee as long as the customer enters their PIN. You will not have to worry about paying mid or non qualified rates for cards did not qualify.

Merchants will also save the time of having to hand the client a pen for a signature. Clients appreciate the speed of online debit transactions and feel more comfortable making smaller purchases when they can be in and out of a store quickly.

Because of the nature of the card, your customers will only use their debit card if they know the funds are available and will almost never have their transactions declined. This saves them from potential embarrassment, and makes your sales process faster and friendlier.

In order to keep transactions secure all pin pads are specially encrypted by the processor that is runnign the transactions. You need to make sure that the pin pad you are using is not only the right type to use with your credit card terminal, but is also encrypted properly!

So make sure to take advantage of this opportunity to lower your debit card processing costs!

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