Linked directly to customer checking or other demand deposit accounts (DDAs), debit cards are accepted as one of the fastest-growing payment methods today.
PIN-based transactions, also referred to as online debit, occur at the point-of-sale, and are defined by the entry of a PIN by the cardholder. When a PIN is entered, the transaction becomes “online” and funds are immediately withdrawn from the cardholder’s available funds.
Signature debit, also referred to as offline debit, is much like a credit card transaction. The cardholder signs a receipt, and the funds are not withdrawn immediately.
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