May 30, 2020 – Credit Card Processing Service

Day: May 30, 2020

Pin Debit vs Signature Debit

When you swipe your debit card at the checkout, the point-of-sale (POS) terminal will usually ask you: “Debit or Credit?” I have no idea why this has become accepted, as you would have to be an industry insider, in order to understand its meaning. The more appropriate question, and one which would be immediately understood …

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Swiped vs. Keyed Transactions

What is Interchange? In simple terms, interchange is the cost of completing a given card transaction. Interchange fees cover the cost of maintaining card networks, servers, and security infrastructure. Additionally, they cover any potential risk that comes with completing the transaction. This is calculated by taking the expected cost of fraud associated with a given …

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