While economic pressures drove down US credit transaction volumes, debit volume saw strong growth in 2009. Recent trends indicate a shift from the longheld view that debit essentially cannibalized cash and checks, as it now appears to be gaining share from credit transactions. Strong product innovation in the debit arena is also helping to drive consumer usage of their debit cards, which means it's more critical than ever to ensure your business can support this growing transaction type.
First Data's integrated card processing solutions empower merchants to accept any payment type the consumer chooses-credit card, PIN or signature debit card, electronic benefits transfer (EBT), gift card and check. Consumers also appreciate the option of using their debit card to pay you via your web site or by phone, a service offered through our STAR® network. First Data is uniquely situated to ensure lowest-cost routing of your transactions through the proliferation of debit processing networks.
Potential Benefits of Accepting ATM/Debit Cards to Your Business
- Virtually Guaranteed Funds - Online, real-time authorization helps take the uncertainty out of daily settlement
- Potentially Lower Processing Costs - Compared to other electronic payment options
- Faster throughput at checkout
- Less opportunity for chargebacks
- Reduced Potential for Fraud - PIN acceptance minimizes opportunity for fraud
- The Convenience of "Cash Back" - The ability to make purchases and get cash back at one location provides customer convenience and encourages customer loyalty. STAR® retailers have the option of offering this loyalty-enhancing feature.