The National Automated Clearing House Association (NACHA) reports that nearly 90% of U.S. adults have checking accounts while almost a quarter (23%) do not have a credit card. Knowing that, businesses take a risk when they limit customers' payment options to credit cards when the statistics show that a greater percentage of people are likely to have a debit card than a credit card. If that's a risk your business is currently taking, Merchant Partners, an industry leader in payment processing solutions, provides a solid case for why it shouldn't be. Contact Merchant Partners today for information regarding our merchant services or just keep reading to find out more about accepting PIN debit transactions.

Advantages of PIN Debit Transactions
While debit cards share a lot of the same features with credit, their differences are quite significant, especially where a merchant business is concerned. For one, PIN debit card transactions typically have considerably lower processing costs than credit cards. With credit cards, you must pay a certain percentage as well as a transaction fee. Debit cards, however, required only a flat-rate fee for each transaction.

In addition to reduced payment processing fees, PIN debit transactions are authorized at the time of sale, which reduces the risk of fraud. Debit transactions are also not subject to chargeback or downgrade fees. All in all, accepting debit cards is significantly safer and more cost-effective.

With Merchant Partners' virtual credit card terminal, your business can accept both credit and debit card transactions.

Other Payment Options
In addition to credit and PIN debit card transactions, another highly effective payment option any business should consider is electronic or e check. Merchant Partners offers ACH (Automatic Clearinghouse) processing as well as the necessary ACH software so that your business can accept checks online. Like PIN debit, check processing also reaches out to those potential customers who don't have a credit card but do have a checking account.

To find out more about PIN debit, credit, e check, or any other electronic payment service offered by Merchant Partners, complete the quick contact form found on the left side of this screen or call (866) 783-0809 to speak with a sales representative.