Debit Card Transaction

Debit card transactions are those transactions that are carried out with the help of a debit card. These transactions are broadly categorized into online debit card transactions and offline debit card transactions. Debit cards are generally used for withdrawing money through ATMs, making payments for different kind of products and services and so on.
The debit card transactions are carried out in two different ways termed as online transactions and offline transactions. Debit cards were launched to assist the customers for withdrawing cash from ATMs by debiting the bank account of the customers. Initially, these cards were not acknowledged by merchants for buying goods or commodities.

However, with the introduction of the Point of Sale (POS) facilities accompanied by PIN pads, debit cards can now used for making purchases from different outlets.

Debit cards with MasterCard or VISA logo can be used as offline tools for transactions and the cardholders can buy commodities in any location where MasterCard or VISA credit cards are accepted.
For some debit card transaction, the PIN number of the card is necessary. At the same time, there are debit card transactions where the PIN numbers are not needed. These cards function as a combined form of credit cards and ATM cards at Point of Sale (POS). There are also debit cards now with Visa’s Zero Liability protection.
Forms of Debit Card Transaction

  • The debit card transactions can be categorized into the following types:
    Online Debit Card Transaction:
    In case of an online debit card transaction, an online authorization process is followed, which confirms the card and PIN (Personal Identification Number) and determines if there are adequate funds in the bank account for meeting the transaction. If it is accepted, the customer is able to buy commodities from that establishment and the necessary amount is transferred from the bank account of the customer to the shop-owner
    Off-line Debit Card Transaction:
    In case of an off-line debit card transaction, an online authorization process is carried out, which confirms the card and checks if there are adequate funds in the bank account for satisfying the transaction amount. If the amount is there, the customer can carry out the transaction and signs a receipt

The basic difference between an online debit card transaction and an offline debit card transaction is that online debit card transaction requires a PIN number for authorization and offline debit card transaction requires the signature of the customer for authorization.

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