merchant services

This article is about debit card cashback. For other forms of cashback see Cashback

Debit card cashback is a service offered to retail customers whereby an extra amount of money is added to the total purchase price of a transaction (paid by debit card) and the customer receives the extra amount in cash along with their goods. For example, a customer purchasing £18. 99 worth of goods might ask for twenty pounds cashback. They would pay a total of £38. 99 (£18. Credit Card Processing, Merchant Accounts, Accept Credit Cards. 99 + £20. 00) with their debit card and receive £20 in cash along with their goods. Many customers find this a useful way to obtain cash, instead of making a separate trip to a cash machine. The idea was originally hatched by Tesco in order to reduce the amount of cash banking stores needed to carry out, the customer service aspect being a side-effect of this

The service is offered by both banks and merchant service providers in countries such as the United Kingdom, Belgium, Canada and The Netherlands because of the fee structures in use in these locales:

When accepting payment by debit card, merchants pay a fixed commission fee (as opposed to a percentage) to their bank or merchant services provider. (This is because the commission paid by the merchant for accepting debit cards, unlike credit cards, does not need to fund interest free credit or other incentives). Accepting payments in cash can be costly for merchants, given that many British banks charge around 0. Credit card transactions where the customer is present. Home cooking supplies hair supplies power supply teacher supplies insulin pump supplies compaq notebook power supply access diabetic supply power chair lifts power rangers s.p.d agilent power supply book pc power supply din rail power supply apc power supplies chair powered wheel diode power internet phone service dsl service cell phone service free internet service dsl phone service internet backup service online lesbian dating service vonage phone service online credit card processing services tampa answering service cheap web site hosting service christian dating internet services personals dating service non profit credit counseling services marketing financial services customer service training video new york city limousine services backup data offsite service internet faxing services airport limousine service san francisco dating online parent services single single christian dating service email list service criminal background check services printing service houston comcast phone service payroll service bureau moving truck services