There you are at the counter of a local business, getting ready to pay for that cup of coffee, new MP3 player, or maybe the vet bill. You don’t carry a checkbook anymore and you choose between one of your credit cards or your bank-issued debit card. If you’re like a growing number of Americans, you are more and more likely to use your debit card – and for several reasons.

Unsecured credit is less available and individual consumers are reducing their debt. BUT, Americans are still using their cards more and more each month, they are just reaching for their debit card, that electronic checkbook. According to the 2010 Federal Reserve Payments Study*, only about 63 million Americans are actively using a credit card each month, and that use is declining. But debit card use grew 14.8% over the studies period. In fact, debit card transactions have now surpassed checks as the most used type of payment, accounting for 35% of all non-cash payments.

What does this mean to your business? It means your members are likely using their debit cards on a daily basis. It also means that you need to take advantage of the reduced costs that processing debit cards as debit, rather than credit cards, can mean to your bottom line. Consumers want to pay with their checking accounts rather than credit cards, and they want to do it electronically. Debit card payments are also one of the most secure methods of payment for both the merchant and the consumer. Also, you can see real savings in processing costs if you take advantage of the lower rates pin-based debits can provide. Why not get the lowest rate available when your clients use their debit cards? Ask ABC how we can help you see these savings.

For more information, call ABC Merchant Services at 1-866-420-8555 or email us at info@abcmerchantservices.com