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debit cards vs. credit cards


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#1 claskew

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Posted 19 February 2005 - 01:11 PM

Hi. We use MOM to process point-of-sale transactions at our two retail stores, and it also receives sales from our Internet store.

For POS, we enter the transaction in MOM, and it uses authorize.net for the payment gateway. Is anyone else with MOM/authorize.net using a debit card processing system where the customer enters their PIN? We'd like to do that if possible to save on credit card fees, but I don't even know if MOM or the payment gateway offers that as an option. We never use the Dydacomp service/maintenance, so we're not subscribed to that right now to just ask Dydacomp. So, if anyone has any knowledge in this area, I'd really appreciate it.

Thanks in advance.
Carol

#2 JRyan

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Posted 29 June 2005 - 12:36 PM

I'd love tp know the answer to this to, Dydacomp claimed (to one of our staff) that MOM takes debit cards, and that the cashier need not do anything different nor the customer enter a PIN, (most of us call that a Credit Card). :blink:

#3 ypf1258

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Posted 29 June 2005 - 06:25 PM

I'd love tp know the answer to this to, Dydacomp claimed (to one of our staff) that MOM takes debit cards, and that the cashier need not do anything different nor the customer enter a PIN, (most of us call that a Credit Card).  :blink:

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most bank card you can use as credit or debit
if you don't need a pin then its credit
to prove yourself try a card that has debit only (nyce, cirrus)

#4 Guest_Summer_*

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Posted 08 August 2005 - 08:14 AM

Unfortunately Dydacomp doesn't allow you to take debit cards in MOM. This is one of the biggest downfalls for us because we are a retail store that has tons of POP sales. We only use Authorize.net for our MOM sales (phone or internet) and for all POP sales we use credit card machines. It wasn't feasible to run both Authorize.net up front and debit cards...it had to be one or the other....and since we have such a high debit ratio and it is cheaper to run debit we have to use the 3rd party.

It would be an awesome advantage for dydacomp clients if they could offer debit ability (Please note dydacomp staff!) - this means running cards as a debit not running debit cards as a credit.

#5 Guest_Greg_*

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Posted 30 June 2006 - 11:32 AM

Unfortunately Dydacomp doesn't allow you to take debit cards in MOM. This is one of the biggest downfalls for us because we are a retail store that has tons of POP sales. We only use Authorize.net for our MOM sales (phone or internet) and for all POP sales we use credit card machines. It wasn't feasible to run both Authorize.net up front and debit cards...it had to be one or the other....and since we have such a high debit ratio and it is cheaper to run debit we have to use the 3rd party.

It would be an awesome advantage for dydacomp clients if they could offer debit ability (Please note dydacomp staff!) - this means running cards as a debit not running debit cards as a credit.


This is actualy what I do for work. (Credit Card Processing) Shoot me an email. I would be very happy to answer any questions. We could very well even save you money on your processing too!
-Greg
gmorse@powerpay.biz

#6 bhoo

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Posted 31 January 2007 - 03:29 AM

most bank card you can use as credit or debit
if you don't need a pin then its credit.







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#7 JPEnterprises

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Posted 14 February 2007 - 10:38 PM

Guys,

I also use authorize.net to run credit card payments for my customers. I do it through the authorize.net website. Although it works, It's possible for the card to not go through and we get a declined e-mail. This makes it hard because if it declines we have to chase the payment. Do you guys know why this is and what I can do to not have this happen without incurring more expenses?

Thanks,
Josh

#8 Nikhil

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Posted 28 May 2008 - 09:14 PM

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#9 johnson753

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Posted 27 June 2008 - 09:15 PM

Credit cards have become more than a luxury. For many, credit cards are a necessity for a couple of reasons. For one, a credit card can make it easier to make purchases without carrying a lot of cash on you.
Secondly, having credit cards can help you to build up your credit rating and credit scores. When you are looking for a best credit cards for you and sorting out the credit card offers you receive,
it can be daunting. To help you figure it all out, here is some information that may help you make the decision.
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johnson753
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#10 never gone

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Posted 12 November 2008 - 09:51 AM

Here's some interesting info most don't know. Yes a debit card can be treated like a regular credit card if a pin # can't be entered. What most don't know is the cost for a retail merchant is WAAAAY lower than if it was a regular card and not a debit card. Yes pin based transactions are super low and you only pay a transaction fee but a LOT of processors will sell you on that even if it's really not something that will benefit your business. If you have a really small average ticket, it makes no sense to take a pin based debit card because the cost can actually be higher than if you treat it like a regular card. However, merchants think that just paying a transaction fee instead of a percentage rate is the way to go, which is true as long as you have a high enough average ticket to make it worth it. Processors will use pin debit sales as a reason to sell you more equipment so don't fall for it.

So if you can't take a pin based debit, it's still all good. Example, cost on a regular visa for a swiped transaction is 1.6325% + .10 a trans. That is COST (in the US), not including the processors profit, no matter what processor you're talking about, for a basic swiped transaction. Now, if you're with a processor that participates in check card rebates, your cost on the same transaction if it's a debit card where there is NO pin# being entered, the cost is 1.1225% + $.15 a transaction. It's a HUGE difference between the two but the kicker is most processors will not charge you the lower rate even though they are getting charged the lower rate from Visa/MC, they keep the difference for their profits. The thing is that processors do not have to give you the lower rates for debit cards because it's completely elective for them to do so. I hoped that helped a little.

:ph34r:




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