Debit Cards: Possible Problems Merchants Face When Dealing with These Transactions


Debit cards often called bankcards solely represent the money someone has on his or her bank account. The good thing in debit cards is that you can take or use your money directly. They are not crediting you money as credit cards. Debit card therefore is very useful for daily transactions such as shopping.   

Debit cards have become exceedingly popular in recent years. These are cards issued by banks to their normal, everyday bank account owners. They do not extend credit, however. What they do is allow you to draw money from your account directly. This is a great new convenience and more efficient and timesaving than writing checks for every single purchase.

Therefore, many people tend to forget the additional charges that apply for payments at shops and by banks for each purchase or withdrawal.  This can cost a lot if we take them collectively.

E-shops though do not like to deal with debit cards because even if they set up this chance and they charge the debit card payments more, the risk of being exposed for chargeback can make them lose even more money than they would with a credit card fraud.     

The main reason of executing forced chargeback includes suspicion of fraud that arises from any irregular actions. For debit cards, there is always a PIN number to use for payments or withdrawals. Many thieves make duplicate cards stealing PIN numbers or the cards too together with them. Of course, a shop where this happens can be held responsible for not stopping fraud to happen.

Merchant can protect itself from credit or debit card frauds if he or she turns to the benefits of a bin database checker. The bin checker acts as a great filter when it comes to accepting payments made by credit or debit cards. Credit card bin number is the Bank Identification Number of a card which the bin database scans and will give you all possible information on the card and its issuer.

Bin database check will uncover many details about both credit and debit cards, which most cardholders would not have thought possible because of the protection of their PIN. Unfortunately, PIN code is not as strong as it was once. Debit cards, although being very useful should be taken higher care of because of their loosened security system. Purchasing a reliable Bin database program for shoppers offers solution for this problem.