Products & Services : Pre-Authorised Debit
ID Data is a founder member of LaunchPAD, the industry's first end-to-end Pre-Authorised Debit solutions provider. Pre-Authorised Debit is a new offline payment method that slots into existing EMV infrastructures, thus offering issuing and acquiring banks new opportunities in both established and emerging markets.
Until now, retailers have been reluctant to process low value debit card purchases due to the associated transaction costs. Pre-Authorised Debit provides the "one card vision" and enables low-value transactions to be preformed using the same debit card in an offline environment, at no risk to the retailer or bank.
By utilising the EMV structure, Pre-Authorised Debit links with the cardholder's account and enables the cardholder to top-up monies via ATM and EFTPoS acceptance devices. The funds are then "ring fenced" ready for offline spending. Holding the funds on the card, the cardholder authenticates all payments by use of a PIN and funds are decreased at every transaction with the remaining balance detailed each time. The transaction is then held offline and processed with either the next online payment or in a batch at the end of the day.
The LaunchPAD programme combines the implementation expertise and best-in-class solution components of VeriFone, Mosaic Software (an S1 Company) and ID Data. To find out more about LaunchPAD, click here.
Supported and endorsed by the leading card associations, ID Data is committed to increasing industry awareness and promoting the business case for Pre-Authorised Debit. Contact us to find out more about this exciting new opportunity.