Richmond (VA) Times Dispatch: Shoppers to reap rewards in credit vs. debit debate
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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