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

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

Product Type: Market Research Report
Published by: TowerGroup
Published: July 2007
Product Code: R301-1308

Description

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.

Table of Contents

TowerGroup Take-Aways
Report Coverage
Bill Payment Methods for Consumers: Exhibit 1 Merchant Acquisition Process Overview: Issuer/Acquirer Scheme (2007); Exhibit 2 PINless Debit Transaction Process Flow (2007); Exhibit 3 US Electronic Funds Transfer Network Support by Region (2007)
PINless Debit Services: Exhibit 4 US PINless Debit Services by Network (2007)
Why Offer PINless Debit?
PINless Debit Adoption: Exhibit 5 US Offline Debit Cards by Issuer (January 2006)
Summary

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