Debit Card Payment
type: Class
preferred label: Bank Card Payment
alternative label: Direct Debit Transaction
alternative label: PIN-based Transaction
subclass of: R8V9Ma3IrggNq0pxeXl8Re5
definition: Debit Card Payment is a transaction that transfers funds electronically from the cardholder's bank account to a merchant’s account, facilitated through a debit card network. Unlike credit cards, this form of payment is funded by existing money in the cardholder’s account.