True PIN Debit Processing

True PIN Debit Processing allows customers to use their debit cards to make purchases at many high-risk merchant locations. For the merchant, this payment option is similar to opening a traditional retail merchant account that only accepts debit cards (no credit cards).  Transactions are processed through the PIN Debit Network and avoid Visa's Network entirely.  True PIN Debit processing is a good solution for higher risk but can be expensive for the merchant (as opposed to CATM which is free to the merchant).   

1. Significantly reduce the amount of cash transactions

2. Simplify reconciliation and regulatory requirements for cash only transactions by using   True PIN Debit

3. Payments processed via the PIN Debit Network (non-Visa Network)  

4. Transaction for exact dollar amount

5. Next Day Settlement on funds , normally no third party contact with funds

6. Wifi/4G terminals, plug and play. Highest security 

7. Simple and easy to use interface on terminals for employees and customers

8. Cloud based Management reporting and reconciliation system in real -time, US based support

9. All services under one solution

1. Cost:  True PIN Debit charges monthly fees (mostly Debit Interchange) to the merchant, as high as $5000 per 100k processed every month. Unlike CATM which is free to the merchant, True PIN Debit can is very expensive. 

2. Higher decline rates: Decline rate for True PIN Debit transactions are normally 3X higher than CATM mostly do Interlink and NYCE failures. 

3. Strict Underwriting Process: The Merchant Application for PIN Debit is lengthy and requires a complete financial file on the applicant, owners and affiliated businesses.  Quarterly reports are also required to be submitted

4, True PIN Debit is prone to Network outages

Free Dejavoo terminal

Lower monthly fees