Chase Paymentech Launches Debitman Pilot
LAS VEGAS -- Chase Paymentech Solutions announced at the NACS Show that, for the first time, a limited number of its petroleum merchant customers, comprising 400 retail locations, are in initial testing phases for acceptance of the Debitman card.
Merchants that accept Debitman can realize financial benefits associated with direct debit of the consumer’s checking account. In addition, Debitman can be linked to customer loyalty programs.
"Petroleum marketers have expressed the need for more payment alternatives at the point of sale," said Wayne LeRoux, executive vice president and general manager of retail network services for Chase Paymentech. "We are examining ways to provide them that."
Debitman cards are debit cards that require a PIN (personal identification number) for usage and are issued by merchants to frequent, loyal customers whose checking accounts are in good standing. There is no credit line tied to a Debitman card.
While Debitman transactions require a PIN, they are considered to be "offline" because funds are not withdrawn from a customer’s account until the end of the day. Merchants are not required to invest in additional hardware or software, since cards are swiped through the same card reader used for other credit and debit cards. Most merchants have the ability to accept Debitman transactions immediately.
"Chase Paymentech works hard to stay on the forefront of technology and payment acceptance," LeRoux said. "The Debitman pilot could lead to an expanded offering for our petroleum merchants."
Debitman cards are initially issued by a merchant, which will brand the card with its own logo. Even so, because Debitman transactions are tied directly to the cardholder’s checking account, they can be used in any location that accepts Debitman. The cards are currently accepted at multiple retail locations, including Wal-Mart, Auto Zone, Bed, Bath & Beyond, CVS/pharmacy, Walgreens, Macy’s and Barnes and Noble.
To obtain a Debitman card, customers are required to complete an application and supply checking account and driver’s license information. That information is checked against a check guarantee database. Customers are able to use the cards for up to $500 in purchases within any four-day period.
Merchants that accept Debitman can realize financial benefits associated with direct debit of the consumer’s checking account. In addition, Debitman can be linked to customer loyalty programs.
"Petroleum marketers have expressed the need for more payment alternatives at the point of sale," said Wayne LeRoux, executive vice president and general manager of retail network services for Chase Paymentech. "We are examining ways to provide them that."
Debitman cards are debit cards that require a PIN (personal identification number) for usage and are issued by merchants to frequent, loyal customers whose checking accounts are in good standing. There is no credit line tied to a Debitman card.
While Debitman transactions require a PIN, they are considered to be "offline" because funds are not withdrawn from a customer’s account until the end of the day. Merchants are not required to invest in additional hardware or software, since cards are swiped through the same card reader used for other credit and debit cards. Most merchants have the ability to accept Debitman transactions immediately.
"Chase Paymentech works hard to stay on the forefront of technology and payment acceptance," LeRoux said. "The Debitman pilot could lead to an expanded offering for our petroleum merchants."
Debitman cards are initially issued by a merchant, which will brand the card with its own logo. Even so, because Debitman transactions are tied directly to the cardholder’s checking account, they can be used in any location that accepts Debitman. The cards are currently accepted at multiple retail locations, including Wal-Mart, Auto Zone, Bed, Bath & Beyond, CVS/pharmacy, Walgreens, Macy’s and Barnes and Noble.
To obtain a Debitman card, customers are required to complete an application and supply checking account and driver’s license information. That information is checked against a check guarantee database. Customers are able to use the cards for up to $500 in purchases within any four-day period.