Average Ticket and discount charged determines the answer to whether Pin Debit will save you money. For most retail merchants with a average ticket above $50, pin debit will be less expensive to process than signature debit. With EMV now in use, there are some things to consider about processing equipment and EMV Pin Debit Transactions. You may need to upgrade your equipment to properly take pin debit EMV transactions.
Pin debit with an honest company processing your payments will for sure eliminate assessments. Assessments are charged by Visa and Mastercard. The typical assessment is .13%. Pin debit may have a surcharge % and/or per item or authorization fee. Many comparisons completed will have 1%-3% savings on pin debit vs signature debit (Visa or MasterCard Network).
Please call us to discuss your specific merchant account, as we’d love to help gather the information and clarify with you. If we can be of assistance, 877-651-1655.