Carol Hazard reports on the battle between online and offline debit cards at the point of sale.
Banks make four times as much money with signature-based credit purchases, according to some reports. Retailers prefer the debit PIN purchases because they are less costly for them.
In essence, merchants pay as much as 3 percent of the total transaction amount on a signature-based purchase, while they are charged no more than 25 cents for a PIN-based transaction regardless of the amount.
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