Could PINless Debit Save Your Business Money?

The savings on transaction fees for PINless debit card payments may not be especially high, but it is still worth considering for your business. Adding this option for debit card processing is a great payment gateway solution for many companies, and could make sense for yours as well.

Cost savings are not the only advantage to PINless debit card processing; these types of transactions are managed with debit card networks in real time, so funds are typically available within one business day. Essentially, they are similar to electronic checks, only simpler.

Cost savings offered by PINless debit have declined. However, if your business operates on a small profit margin, every little bit makes a difference. Also, if you process a large volume of debit card payments, even small savings add up quickly.

A third advantage to PIN debit card transactions is there is no risk of chargebacks. Customers cannot dispute these transactions so there are no chargebacks. This means you could potentially almost eliminate chargebacks and along with them the risk of being put in the terminated merchant file. It should be noted, that this benefit depends upon you being in what’s called a safe industry.  

PayVisors is a sales consulting company with in-depth articles about the benefits of PINless debit in its Buzz section. To find out more about PINless debit card transaction, network fees, the Durbin amendment, the UniPay gateway, finding the best e payment gateway  for your business, credit card payment software, and how to process transactions more effectively, visit the PayVisors website now. The more you know about PINless debit card transactions, the easier it will be to make good decisions that can save you money and improve your bottom line.