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Perform both credit and debit card processing with an all-in-one solution from SPS.
Most business owners already realize the importance of accepting credit cards as a form of payment. However, many business owners are never educated on the value of offering their customers enter their PIN number during ATM debit card processing. By adding an inexpensive PIN Pad to their existing terminal, merchants can reduce their debit card processing costs and increase profit.
Some advantages of accepting debit cards with a PIN Pad are:
- Reduced Fees: Merchants only pay a flat fee for each debit sale they process as opposed to a percentage of the sale plus a transaction fee. On an $80 sale a merchant will pay almost $1.00 less for debit card processing on this type of transaction.
- Safer Transactions: Businesses can protect themselves from fraudsters using stolen credit cards by having the customer enter their PIN when paying with a debit card. PIN entry will virtually eliminate any fraudulent chargebacks with debit cards.
- Faster Check Out Times: Consumers and clerks will no longer have to fumble with pens and hand back a signed copy of the receipt, making check out with PIN based debit faster.
- Accept Debit Cards without a Visa® and MasterCard® logo: While most consumers carry a debit card with a Visa® or MasterCard® logo on it many consumers still carry debit cards with only their banks name on it. Some banks do not offer Visa or MasterCard branded cards and many will not issue them to customers with fair or poor credit. These cards will not work as credit cards but will work at the point of sale if the consumer enters their PIN number.
- Increased Customer Loyalty: Some consumers prefer to use their debit card and feel more secure entering their PIN at the point of sale. These customers will appreciate the convenience of being able to pay the way they want.
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