CenPOS, a payment processing engine, is pushing debit transactions through the debit network instead of the Visa and MasterCard networks at impressive rates. Mid-tier companies seeking a solution to lower their credit card processing costs are achieving dramatically lower costs with CenPOS.
Visa and MasterCard average swiped debit interchange is 1.03%, plus $.15 per transaction (there are some variances). Other fees include but are not limited to dues and assessments and and the new include the MasterCard network branding fee. Processing via the debit networks is under a $0.90 per transaction on every network at this time. The cost of a $220 average ticket drops from $2.43 and up to less than $1. If you saved $1.50 for every transaction, how much would you save per month? per year?
How do you get debit network pricing? In a retail environment, the consumer must enter their pin number when using a debit card. What is debit conversion? When the consumer enters their pin number, we call that debit conversion. The transaction has converted from the Visa & Mastercard payment processing network to the debit network. Most retailers hover in the 10-25% range for debit conversion. A very, very small group achieves over 70% pin debit success. CenPOS customer beat all the averages.
Debit conversion is only one benefit of CenPOS, which also delivers end-to-end transaction security with comprehensive fraud management, and much more. At this writing, we recommend the Ingenico i6550 signature capture terminal or i6580 (same unit but with a color screen) to interface with CenPOS for maximum benefits in a card present, retail environment.
For more information, Call 954-942-0483 or read this article on CenPOS.