Debit Electronic Payment
Payments can be made by authorizing a bank to make a debit for
a particular transaction. The insurance industry has long used
this techinque to assure that premiums are paid from your checking
account on a regular basis.
One of the main
advantages of "Direct Payment" is that it is very
inexpensive to process and processing cost is NOT based on
the amount of the transaction but on the volume of transactions.
This is significant advantage for large transactions from a
merchant's point of view, since the 4-5% fee is not required.
MIG's ie-Direct product provides the security
and convenience to the merchant often making this a preferred payment
method over credit cards.