Internet Debit Rate (1.96%)

Our new Internet Debit Rate is a brand new feature in merchant account pricing. As most of you know, the debit card that is issued by your bank with your bank account is enabled with MasterCard or Visa capabilities. Many consumers have eschewed with using traditional revolving credit accounts in favor of using their debit cards for purchases on credit card processing systems. These transactions look, feel, and behave like credit card purchases except the funds are withdrawn against the customers checking or business accounts instead of credit lines.

In fact, if you are processing credit cards now, you are already processing many of your charges off of debit cards without knowing it. In most cases, the merchant doesn't even have a method for distinguishing which charges were processed against debit cards. Because these transactions bear less risk of default and are settled more quickly, the processing costs of these transactions can be reduced. In fact, the rate on our Low Low Debit Rate plan is just 1.96%.

Our internal investigation reveals that a typical merchant is already processing around 30-40% of all of their transactions against debit cards today. As mentioned earlier, most merchants do not have a method for identifying these charges. Our system will automatically apply the internet debit rate on these charges. Depending on the individual mix of your customer base, this new rate could save you thousands of dollars per year versus traditional processors.