Merchants can determine how a card payment should be processed. Since the signature can be forged, PIN verification is a safe option for both seller and buyer. True, the trader has to pay 0.2% of the purchase price for this settlement system. Thus, each of them determines for himself whether he accepts EC cards, which ones and from what amount.
A payment by signature is similar to an electronic direct debit: by your signature, you authorize the automatic debit of the payment from your bank account within a defined period. Like all direct debits, these payments can be reversed by the customer.
Payment by PIN code is different. Here the funds are debited directly from your account. This is why most sellers prefer this type of payment, despite the fact that it is paid. Indeed, the card reader “knows” immediately after the transmission of the PIN code if the account is covered. On the other hand, during confirmation by signature, there is a risk that the payment is not executed or that the card is misused following a theft.
In many stores, payment confirmation happens by chance. However, in some cases, the seller also makes a decision based on a pure assumption of the buyer’s ability to pay.
In addition to PIN and signature, there is now a third option: contactless card payment via NFT. If you have activated this function on your Girokarte, you no longer need to enter a PIN code. However, for security reasons, there is an upper limit up to which you can pay in this way – usually 50 euros.
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