Debit cards in offshore business

Most business men accept credit cards in their business organizations. But most of them are hesitant to receive debit cards. They do not feel very comfortable in accepting debit cards. There are people who love to make use of the benefits of debit cards. It is like taking money directly from one’s own account in place of charging money on the purchases you make.

The customers find debit cards very convenient as they do not have to carry the cash or a cheque book along with them. They will not spend lavishly on purchases through credit card. The business men can accept debit cards and here are a few reasons for accepting them

  • It is always a very good idea to have another option for payment
  • People make the payment with regard to the balance of money in one’s own account and the issuers too take the account into consideration. The payment cannot be made if there is no sufficient money in one’s account. The issuers will not have to bear with the bad checks.
  • It is very difficult to get a fraud to be committed using the payments of debit card. The user must be aware of the pin number of the card and this makes it less vulnerable to cheatings.
  • The customers find debit card cheaper than the credit cards as they will not be charged on the payment processor.

If you are a business man and is ready to get the debit cards accepted.  But the absence of a keypad for entering the customers pin number will be the problem which you face. The debit cards are used by the customers just like credit cards, but it will be considered by the credit card machine just like a purchase done through credit cards. This makes an impact on the business man as he has to pay the transaction fee along with the discount just as you will have to pay on other financial deal. You will not have to make this payment if a credit card is use by the customer.

One can buy a device that helps you to get the customers’ pin number entered. You can make a cut in the fee and can be assured of a safe transaction. If a particular company is accepting credit card, the same company will be able to receive the debit cards also.  At the moment you begin to offer the particular service for the customer, you will regret for the time and money you spend making payment for the transactions.

If you are a businessman and are intending to accept credit cards from the customers, you can talk to the particular bank which is setting up the account of yours that you are accepting debit cards too. Your company will not find it a big problem to offer both the options as your customers will really love it. The company will be able to get some money saved during the process. It is really a wise idea to set up processor to accept both debit and credit cards. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.