Many people used debit cards on their purchases because they are only required to spend for a specified amount of money on their own account. Apart from it, the money can be immediately debited. Although there are still some advantages to get from using a credit card; still, many prefer making purchases or reservations with their debit cards.
Actually, debit card processing is made in two ways: online or (pin-based) or offline or (signature-based). In order that the debit card can be processed offline, it should be branded by the MasterCard logo or VISA. This is one of the most ordinary ways of processing debit cards. As you can see, they are being processed just like the credit cards.
In debit card processing online, there is a need to make use of the PIN method that requires various processing. The customers will be asked if it is going to be a debit or credit sale. The payment card is keyed in or swiped that further makes the payment transaction. The customer also has the option of providing “cash” while still on sale. The customer is also required in entering an encrypted or secure Pin number. This automatically produces the transaction and approves the payment.
Afterwards, the receipt is being provided for the customer. A signature is no longer required because the PIN is already entered by the customer. As per the process of transaction, this usually takes place when the equipment is already connected in the payment network. In this payment network, the most difficult work is being done that takes for about three to four seconds.
Then, the information on sales continues to travel from the processing equipment to the secure payment network up to the financial institution wherein the bank account exists in. Considering that the PIN number is entered by the customer during the sales, the transaction will now be authorized. Afterwards, the account is to be checked if there are still enough money that covers the whole sales amount. If it is still covered, then the transaction will be approved.
As per the checking account, it is immediately debited while the funds are transferred to the bank account. In getting the money, it is even made easier and faster in debit card processing as compared to the credit card processing. The money is being transferred in the bank account by means of bypassing the networks of payment needed in settling the payments on credit card. The good thing is that it only takes twenty-four to forty-eight hours before getting the money.
In debit card processing, there are a lot of benefits to offer to clients. Debit cards are less expensive as compared to the credit cards. Many people have access on debit cards and they become the most preferred mode of payment.
Due to the increasing debt rates, debit cards are preferred by many than credit cards. Even deposits are done in a fast and easy manner for about twenty-four to seventy-two hours. The good news about debit card processing is that the setup process is done in an efficient, simple and painless way!
Actually, debit card processing is made in two ways: online or (pin-based) or offline or (signature-based). In order that the debit card can be processed offline, it should be branded by the MasterCard logo or VISA. This is one of the most ordinary ways of processing debit cards. As you can see, they are being processed just like the credit cards.
In debit card processing online, there is a need to make use of the PIN method that requires various processing. The customers will be asked if it is going to be a debit or credit sale. The payment card is keyed in or swiped that further makes the payment transaction. The customer also has the option of providing “cash” while still on sale. The customer is also required in entering an encrypted or secure Pin number. This automatically produces the transaction and approves the payment.
Afterwards, the receipt is being provided for the customer. A signature is no longer required because the PIN is already entered by the customer. As per the process of transaction, this usually takes place when the equipment is already connected in the payment network. In this payment network, the most difficult work is being done that takes for about three to four seconds.
Then, the information on sales continues to travel from the processing equipment to the secure payment network up to the financial institution wherein the bank account exists in. Considering that the PIN number is entered by the customer during the sales, the transaction will now be authorized. Afterwards, the account is to be checked if there are still enough money that covers the whole sales amount. If it is still covered, then the transaction will be approved.
As per the checking account, it is immediately debited while the funds are transferred to the bank account. In getting the money, it is even made easier and faster in debit card processing as compared to the credit card processing. The money is being transferred in the bank account by means of bypassing the networks of payment needed in settling the payments on credit card. The good thing is that it only takes twenty-four to forty-eight hours before getting the money.
In debit card processing, there are a lot of benefits to offer to clients. Debit cards are less expensive as compared to the credit cards. Many people have access on debit cards and they become the most preferred mode of payment.
Due to the increasing debt rates, debit cards are preferred by many than credit cards. Even deposits are done in a fast and easy manner for about twenty-four to seventy-two hours. The good news about debit card processing is that the setup process is done in an efficient, simple and painless way!
