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Fight the Fee

Save money with PIN-based transactions.

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This story appears in the June 2007 issue of Entrepreneur. Subscribe »

Looking for a way to cut down on those pricey credit card transaction fees? Nudging customers to pay using a debit card and PIN is saving some savvy merchants serious cash.

While costs borne by merchants range widely depending on their agreements with credit card service providers, fees for PIN-based transactions are typically well below those of signature-based transactions. In fact, Ken Paterson of industry consulting firm Mercator Advisory Group Inc. puts a conservative estimate of the cost difference at 20 cents per transaction--an amount that quickly adds up.

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