Debit Card vs. Credit Card Transactions

Want to know the biggest difference between debit and credit transactions?
Debit cards translate right into cash, as do ATM cards; whereas customers can’t withdraw cash from a credit card. Debit cards are “buy now, pay now” while credit cards are “buy now, pay later.” Credit cards are great in a pinch and for customers who are in the process of building up their credit. Debit cards are perfect for those who prefer to work with the money they already have.

As a retailer, you have very little control over whether your customers use credit or debit cards for transactions. What you can control, however, is how much your business pays for credit card processing. Additionally, credit cards give customers the chance to build up their credit score when they make timely payments. With credit cards, customers can maintain or increase their spending limit by making monthly payments. But they’ll still have to pay a monthly interest charge on their credit card balance.
With debit cards, on the other hand, what you see is what you get. Another key difference between debit and credit cards is that you can’t spend past your limit with debit cards.

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