Debit Card Processing
Real-time payments with instant settlement and lower fees
Your Progress
0 / 5 completed💳 The Instant Payment Network
Debit cards connect directly to your bank account, settling transactions in real-time. Unlike credit cards that batch process at day's end, debit payments verify your balance instantly and deduct funds within seconds. This direct connection enables lower fees—$0.05-$0.25 per transaction versus credit card fees of 1.5-3.5%.
⚡ Speed Advantage
Debit networks route transactions directly to your issuing bank in under 2 seconds. The bank checks your current balance, approves or declines instantly, and holds the funds immediately. No credit check, no borrowing, no 30-day float—just real-time access to money you already have.
Transaction Time
From card swipe to bank approval
Average Fee
PIN debit transaction cost (vs $2.50 credit)
Daily Volume
Interac processes in Canada alone
Real-Time
Instant balance verification required
🎯 Two Debit Types
PIN Debit (Preferred)
Requires 4-digit PIN entry, uses dedicated debit networks (Interac, STAR), lowest fees ($0.05-$0.15)
Signature Debit (Online)
Uses Visa/Mastercard networks, no PIN needed, higher fees ($0.50-$0.95), common for online purchases
🔐 Security Layers
PIN Verification
4-digit encrypted code verified by issuing bank
- ✓Two-factor authentication
- ✓Encrypted transmission
- ✓Limited retry attempts
- ✓Cannot be skimmed
- →Can be observed
- →Forgotten PINs
- →Requires physical entry
💡 Why It Matters
• Lower costs: Merchants save 90% vs credit cards, often pass savings to consumers
• No debt risk: Can only spend money you have, preventing overspending
• Instant reconciliation: Transactions appear in bank account within minutes
• Network competition: Multiple debit networks create downward fee pressure