Remember those halcyon days of free flowing cash? That’s when the debit card was born—branded with a major credit card logo, it allowed consumers to pay for purchases without a paper check or relying on extended credit. If the money was in their checking account, the purchase was approved. If funds were insufficient, the card declined. For retailers, accepting debit cards was safer than accepting checks, a form of payment that wouldn’t show up as a “bounce” until long after the customer had left the store with their merchandise. [click here to continue…]
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