NavigationFAQ
- What Is DebitWay?
- How is a debit card transaction different from a credit card transactions?
- How secure is DebitWay?
- What level of encryption does DebitWay have on their server?
- Is DebitWay PCI Compliant?
- Can the entire network go down?
- Will other financial institutions have access to private or confidential information when your preferred customer uses their Bank Debit card through our network?
- How is DebitWay safe for Customers?
- Which currencies are supported?
- Does DebitWay restrict the dollar amount processed per month?
- Can a customer charge back be applied?
- Does DebitWay accept Vendors or consumers outside of North America?
- Do we need our own bank merchant account status to use your system?
- Will Vendors need to be incorporated?
- If my web site is located outside the U.S, can I sell site access through DebitWay?
- What kind of reporting will I be able to obtain through the DebitWay Control Panel?
- What is a Hold Back Fund?
- When does the Vendor get paid?
- What is the miniTeller®?
- Is the miniTeller® easy to hook up?
- How does a customer use the miniTeller® again?
- How secure is the miniTeller®?
- Is there an Annual Fee?
- How can I contact a DebitWay agent to find out more about this payment method?
1. What Is DebitWay?
The DebitWay service is a payment option that allows customers to pay for goods and services on the Internet directly from their bank account in real time fast and easy.
2. How is a debit card transaction different from a credit card transactions?
A debit card is issued directly from the customers bank and allows them to access funds from their owny bank account. It is different from a credit card because since the customers are using their own available funds and not borrowing money on "credit" as you do with a credit card. There is no interest charged as there are with credit cards.
3. How secure is DebitWay?
DebitWay is much safer to use online than a credit card. With DebitWay customers no longer need to enter sensitive information such as their card information online. DebitWay reads the information in real-time and the info is not viewed or stored by anyone, and cannot be compromised. This process allows both the card information and the PIN to be read externally from their computer which makes it impossible for anyone to access the information. The transaction info is instantly encrypted and processed in the same way by withdrawing money from a bank machine anywhere in the world.
4. What level of encryption does DebitWay have on their server?
DebitWay uses Thawte 248 bit encryption systems. At the browser level we use 128 Bit SSL.
5. Is DebitWay PCI Compliant?
Yes, DebitWay is enrolled and passed all its required mandatory certified polices and procedures and follows the PCI Data Security Standard Code (PCI DSS).
6. Can the entire network go down?
No, The DebitWay network was designed using a "distributed architecture" approach. While certain members may experience temporary outages, the whole system will not fail. DebitWay and its Association members work diligently to ensure that procedures are in place to manage any service interruptions quickly and efficiently.
7. Will other financial institutions have access to private or confidential information when your preferred customer uses their Bank Debit card through our network?
No. Customer’s financial institution does not release confidential or private information.
8. How is DebitWay safe for Customers?
The DebitWay service is very secure for your preferred Customers. Here's why:
- Privacy: Customers do not need to provide any financial information, card numbers or login information to the online merchant or any third party; no sensitive information is shared.
- Security: Customers use their own issued Bank Debit Card online with their own issued Pin security number.
- Trust: The payment is completed through the customer’s financial institution they know and trust.
- Control: The DebitWay service helps customers better manage their finances. They pay immediately using available funds from their bank account, unlike credit where they owe later.
9. Which currencies are supported?
With DebitWay, you can only accept payments in USD.
10. Does DebitWay restrict the dollar amount processed per month?
No, there is no maximum processing volume.
11. Can a customer charge back be applied?
Since it is not a credit transaction but a Debit Transaction whereas funds our deduct directly from the customers bank account in real time a charge back is not possible.
12. Does DebitWay accept Vendors or consumers outside of North America?
Yes, as long as we can verify you and your company, DebitWay accepts merchants world wide.
13. Do we need our own bank merchant account status to use your system?
No. DebitWay offers you the ability to accept all major U.S Bank Debit Cards without needing a traditional bank merchant account.
14. Will Vendors need to be incorporated?
Preferably your company must be registered and incorporated in its respectful jurisdiction location. However, if not DebitWay will require to authenticate and confirm your personal information. Keep in mind settlements can be wired at any financial institution worldwide.
15. If my web site is located outside the U.S, can I sell site access through DebitWay?
Yes. Sites anywhere in the world can use our service as long as the customer purchases with a North American issued Bank card.
16. What kind of reporting will I be able to obtain through the DebitWay Control Panel?
The Control Panel includes product distribution, daily sales activity, and customer localization. It also shows confirmed Verification IDs and customer identification, so you can keep track of each transaction that is verified and confirmed. It also consists of detailed payout and hold back funds reports.
17. What is a Hold Back Fund?
Like any other business, DebitWay needs to protect itself from catastrophic events. In the case of DebitWay, we are selling intangible services on behalf of merchants. (most often, access to a client's web site). If that web site should abruptly cease to be there (as does happen on occasion), DebitWay would find itself obligated to refund any as-yet-unused subscription charges or deliveries. To protect itself, then, DebitWay holds back from each Vendor up to 10% of the total revenues billed during a billing period. Six months following the date of each billing period, that % holdback amount is paid out to the vendor. This policy can be re-evaluated once a history has been established for your site.
18. When does the Vendor get paid?
The Vendor gets settled by wire transfers. Unlike a credit card merchant account Vendors are paid once a week upon their request, as opposed to monthly with most other processors. Please note that DebitWay is required to hold back two weeks in the rear in accordance to banking guidelines.
19. What is the miniTeller®?
The miniTeller® acts exactly as the customers own personal ATM machine which allows them to make direct payments from their bank account to their preferred online merchants, all from the comfort of their own home with the utmost security. The miniTeller® is an external card-reading device used to process Debit/Bank card transactions safely and securely over the internet. The 3 oz. device plugs directly into their computer and has its own secure keypad for entering of their PIN.
20. Is the miniTeller® easy to hook up?
There is no software to download or diskette to use. The miniTeller® simply plugs directly into the customers USB port on their PC or laptop and it is ready to use. Once plugged in the miniTeller® will light up in white. No additional setup needed!
21. How does a customer use the miniTeller® again?
When making purchases at one of their preferred merchants sites in our network they simply choose the miniTeller® buy button option and slide their card through the miniTeller®, enter their PIN on the key pad and submit their payment. It's that Easy! Since it is an online, real-time service, the debit is immediate. This means that the required funds must be available in their account at the time of purchase. See how it works.
22. How secure is the miniTeller®?
The miniTeller® is much safer to use online than a credit card. With the miniTeller® customers no longer need to enter sensitive information such as your card information online. The miniTeller® reads the information in real-time and the info is not viewed or stored by anyone, and cannot be compromised. This process allows both the card information and the PIN to be read externally from their computer which makes it impossible for anyone to access the information. The transaction info is instantly encrypted and processed in the same way that withdrawing money from a bank machine anywhere in the world.
23. Is there an Annual Fee?
No. There is no annual fee for using the miniTeller®.
24. How can I contact a DebitWay agent to find out more about this payment method?
You may contact an agent by simply dialing 1 866 972-8765 or by emailing an agent at sales@debitway.com
To learn more about the DebitWay advanced security practices, please refer to the 'Security' page.
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