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Debit Cards – Top of Wallet

Offer your customers a choice with PIN and signature debit options at the point of sale. The more payment options you offer, the more customers you can attract.

Linked directly to customer checking accounts, debit cards are one of the fastest growing payment methods today. First Data offers debit processing with signature- or PIN-secured debit cards so customers can access cash, buy goods and pay bills.

You’ll be able to provide customers with a quick and secure way to pay and have the ability to offer cash back with a purchase. For the customer, this means time savings with fewer trips to the ATM. We have a wide range of debit acceptance POS equipment options for you to choose from. Did you know that PIN debit can be less expensive to process than credit cards? So you may save money while offering your customers the payment options they want.

Roughly three-fourths of the U.S. population has a debit card. In contrast to credit cards, most consumers typically have just one debit card, placing it by default at ‘top of wallet’ for debit. Slightly more than one-third of debit cardholders keep larger balances in their accounts than they would otherwise due to the active use of their debit cards. Debit cards often result in higher purchase amounts, so you can increase profit by offering debit card acceptance.

The number of consumers using a PIN debit had its highest growth in 2007, up 12.5% from 2006 and is now almost equal in size to people using cash.*

This growth is likely due to consumers becoming more familiar with the benefits of debit such as:

· ATM and debit cards are easy to access
· Speedier checkouts
· Convenience
· Rewards
· Flexibility
· Control over money
· Protection offered by these cards relative to other payment methods, such as checks

* 2008 Study of Consumer Payment Preferences, conducted by Hitachi Consulting – 3,308 U.S. consumers completed an online survey in June 2008 which was administered by the Harris Poll Online.


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