PINless Debit: Finally Taking Off or Headed for a Crash Landing?: Industry Research

PINless Debit: Finally Taking Off or Headed for a Crash Landing?

Published Date: July 2007

Published By: TowerGroup

Page Count: 11

Order Code: R301-1308

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For a payment option in its early teens, PINless debit has a relatively small share of bill payment transactions and still lags bank accounts and credit cards. Billers' search for alternatives with processing costs less than those for credit cards contributed to the creation of PINless debit. However, when first rolled out by the electronic funds transfer (EFT) networks, it did not grow substantially.

Since 2002, PINless debit has gained momentum as more biller service providers, processors, and billers added the functionality. Its prospects for future adoption remain uncertain. This Research Note analyzes the challenges related to PINless debit and its viability.

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