Debit Card Processing tells us how the debit card works or it gives us an idea of the functioning of the debit card.
There are two types of debit card processing.
They are:
PIN or Online debit card processing.
Signature or offline debit card processing.
For the former process the debit card holder is required to enter a PIN(personal identification number). This number is card holder specific.
In this kind of debit card processing the card holder types in the PIN into a PIN pad.
On typing the PIN one can get instant access to a debit card holder's account.
In this type of debit card processing the transaction is secure due to the encryption by the PIN Pad.
The other method of debit card processing is as under:
Signature or Offline debit card processing:
This requires the debit card to have either a logo of:
Visa or
MasterCard
This permits the use of the debit card in any terminal anywhere irrespective of the location of the ATM. While making purchases the debit card may or may not be present at the spot.
In debit card processing, one may need the following instruments:
Merchant account
Gateways
Terminals
PIN
PIN Pads
Printers
Software.
In addition to the above methods of debit card processing there are certain companies which offer another kind of debit card processing. It is called the Dial Pay debit card Processing.
This method of debit card processing only require a telephone and a printer. This is meant for those customers who may not have a high card volume. One needs to empower and deposit ones transactions using the telephone.