PIN-Less transacts your Visa/MasterCard debit payments without a PIN, saving customers 30% or more on transaction fees. PIN-Less Debit technology was established in 2004 to support lower cost transactions.
PIN-Less is unique since customers are not required to use a PIN or signature. PIN-Less is ideal for monthly online or phone payments. There are approximately 650,000 business and $780 Billion in transactions in the US that could be processed as PIN-Less transactions.
Why I'm Selling
I built the company in 2004 but in 2010 new interchange fee laws made Pin-less transactions less profitable. Our firm manages over $600,000,000 a year in receivables through our other 14 companies. It's cost prohibitive for us to build out Pin-less under the new laws. We don't do any fulfillment, neither would you. You would outsource all the transactions through to Worldpay or FirstData. They give you percentages for all transactions. Pin-less is only a marketing company.