A restaurant with $300,000 in monthly sales may cut the $7,500 monthly cost of accepting signature-based debit and
credit cards almost in half if 50% to 60% of its customers choose PIN debit as their payment, Ensminger says. That assumes the merchant is paying a 2.5% discount rate, which includes interchange, processor and acquirer fees. In early pilots overseen by POS-terminal maker VeriFone Holdings Inc. at more than 30 restaurant locations, merchants saw 39% of their card transactions covert from signature to PIN-based payments.

Of consumers surveyed at those restaurants, 87% said they had a “high” sense of security using a tableside payment terminal, implying they approved of the card not leaving their sight to complete the transaction, according to San Jose, Calif.-based VeriFone.

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