RBS Lynk to provide access to Debitman network
30 November 2005 | 4692 views | 0
RBS Lynk, a leading payment processor, today announced it will provide access to Debitman, a retailer-driven ACH debit network.
Retailers processing with RBS Lynk will be able to leverage Debitman’s open-card network which will result in greater acceptance and more marketability of retailer-issued debit cards. In addition, a retailer can simultaneously save on network fees and receive incremental revenue by becoming a Debitman card issuer.
"RBS Lynk is providing the power of a national open network and new revenue opportunities for their retailers who wish to issue branded debit cards," said Scott Hatfield, Debitman’s President and COO. "Previously, the primary incentive for retailers to issue store-branded debit cards was to reward consumers through their loyalty programs and keep the card value in their store network. With Debitman acceptance, retailers can take an active role in managing their electronic payment costs."
Debitman is the only provider of a shared network, retailer-issued card. RBS Lynk recognizes it as a debit network utilizing the national ACH system. As with traditional debit networks, once the authorization is received the funds are guaranteed by Debitman. Issuing retailers benefit in two ways. First, when cards are used at an issuer's own store, they save money on network fees. Second, when cards are accepted by other merchants in the network, the issuing retailer receives revenue.
"We are continually looking for new services that add value to retailers' store operations," said Ken Paull, RBS Lynk's Senior Vice President of National Sales. "With all the pressures to increase profitability and lower operational costs, we believe Debitman is an innovative solution to address both objectives. Most importantly, a growing number of our customers are expressing interest in our support of the Debitman network."