Types of Debit Cards
The debit cards are becoming trendy day-by-day. To fulfil the demand of debt cards for each communities companies are working of different types of debit card with various features. Debit cared are divided in to three sections mainly: Online Debit Cards, Offline Debit Cards and Prepaid Debit Cards.
Online Debit Cards- Such cards reduces the amount spent instantly from the account of the debit card holder. Online debit cards offer a much faster way of processing the transaction. Transaction involving online debit cards requires electronic authorization. The online transaction may be additionally secured with the personal identification number (PIN) authentication system and many cards require authentication for every transaction. Online credit cards have greatly minimized cases of fraudulence and have essentially becoming enhanced automatic teller machine (ATM) cards. But for using such cards there is the necessity of an electronic authorization device at the point of sale (POS) and sometimes also a separate Pin pad to enter the PIN. Online debit cards more secure authentication system and live status have made it superior to the offline debit cards. Owing to its superior status many banks in Canada and Brazil issue only online debit cards.
Offline Debit Cards- Such cards carry the characteristics of both online debit card and a credit card, allowing the user to pay for goods and services directly from his or her bank account. Offline debit cards allow a daily limit or a maximum limit equal to the current/checking account balance from which it takes funds and creates a debit against the cardholder’s bank account. Unlike an online debit card, no PIN is required during the transaction-all that is required is the user’s signature. As the name goes this debit card is offline, the bank account is not accessed directly, meaning transaction requires 24 to 72 hours to be reflected on users’ account balances or debited from the account. In some countries and with some banks or other financial institutions, offline debit transaction is without cost to the purchase beyond the face value of the transaction, while for online debit transaction a small fee may be charged. Offline credit cards are generally issued by credit card companies in association with the bank in which the account is held.
Prepaid Debit Cards- Such cards also called reloadable debit cards or reloadable prepaid cards are generally used for recurring payments. The payer loads funds to the user’s card account. Using prepaid debit cards helps you to control your spending. It allows the cardholder to spend up to the amount pre-deposited into the account. Mainly the US-based companies with a large number of payment recipients abroad, prepaid debit cards makes the delivery of international payments without the delays and fees linked with international checks and banks transfers.
Contact national asset management for process a debit card payment due in USA. For more information on accepting debit cards at your debt recovery business click on the link below: http://www.nationalmanagement.net/
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