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PIN Debit (On-Line) Transactions
With PIN Debit, the customer selects "Debit" as the payment method and then after the card is swiped must enter their Personal Identification Number (PIN) into an encrypted pin pad at the point-of-sale (POS) terminal to authenticate their identity.  The transaction is transmitted through the electronic funds transfer network and the funds are deducted from the consumer's checking account within seconds.

Benefits:
  • Fast settlement of funds
  • Reduced chargebacks
  • Increased security with PIN debit rather than signature debit transactions
  • Generally less expensive for merchants than signature debit
  • More secure and fewer fraud losses as compared to signature debit transactions
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Velocity Funding LLC is an Agent of Sage Payment Solutions, a registered ISO/MSP of Harris NA.
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