Image by Kelly Sikkema

Why should I accept PIN-debit?

It's wise to accept as many payment methods as possible to encourage purchases. For most merchants, PIN-debit is far cheaper than credit, and better protects you from chargebacks.

Almost all merchants will see slightly lower overall rates by accepting PIN-debit instead of signature-debit. (The exception being low average-ticket merchants.) Many merchants opt to accept PIN-debit for this reason alone. 

Another great reason to accept PIN debit is that it better protects merchants against erroneous chargebacks. It's unfortunate, but there are customers who actively look to defraud unsuspecting merchants by disputing legitimate transactions. The rules governing credit card chargebacks heavily favor the cardholder, and it's not uncommon for merchants to lose chargebacks based on legitimate transactions. PIN-debit rules are much more stringent, and as a cardholder, it's a more difficult process to dispute a PIN-debit sale. It's also nearly impossible for them to claim that someone else authorized the sale, since a unique PIN-number was used. 

Lastly, some customers prefer PIN-debit! There are plenty of people who still don't like using credit cards (and never will) so PIN-debit is a great alternative. In some areas, debit cards are more prevalent and you can often attract more business by appealing to your clientele's preferred payment methods.

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