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Benefits Transfer (EBT) Card Processing
ALMOST 200.000 BUSINESSES ACCEPT
THEM, SHOULDN'T YOU?
Electronic Benefits Transfer, (EBT), a payment feature often
unseen and unheard, is growing at a tremendous rate. Government
programs such as state issued food stamps, Women/Infants/Children
(WIC) and Temporary Assistance to Needy Families (TANF), issue
benefits on an electronic card known as an EBT card. The card
issued is similar to a debit card, as the cardholder has a
specific personal identification number (PIN) that must be used
when accessing their funds. To process an EBT card, the card is
run through an electronic payment system that authorizes the
transfer of the card holder's government benefits to the retailer
for payment of products received. In many states EBT cards are the
primary source for government issued benefits, such as food
stamps, as over 80 percent of food stamp benefits that are issued
today are issued on EBT cards. Many experts predict that other
benefits such as social security will also be issued on EBT cards
in the future, which will require more merchants to accept the
government issued card.
Facts About EBT Cards:
1997 almost $20 billion worth of food stamp benefits were
delivered. Some 186,000 retailers are authorized to accept food
stamps. In a single month, retailers made 1.7 million deposits of
food stamp coupons in more than 26,000 banks. - EBT eliminates
much of the paper handling involved in the food stamp system, and
it automates accounting, saving millions in the process.
Recipients have reported that they like the convenience and
security of EBT. They no longer have to go to the food stamp
issuance office to pick up their food stamps. They can draw their
benefits as needed instead of receiving a month's allotment at one
time. If the card is lost or stolen, it can't be used by anyone
who doesn't know the PIN, and it can easily be canceled and
Surveys have shown that most participants prefer an EBT system to
the paper coupon system it has replaced. Many recipients have also
said that EBT reduces the stigma associated with food stamp coupon
Federal government saves time and money by moving to EBT. The
process of printing, transporting, safeguarding, distributing,
accounting, and destroying the food stamp coupons is eliminated.
becomes a more frequent form of payment, your business should be
prepared. Enroll in Cynergy Data's EBT program and increase your
customer base by accepting government issued benefit cards.
the US government such as Social Security and Food Stamps are
going to be, if not already, processed through Electronic Process.
In order to
process an EBT card (sale of food, or cash back), the merchant
MUST have a license and have proper equipment such as a terminal
and a Pin Pad to enter the private pin number of the recipient.
When we approve
a merchant for EBT services, our services also include Credit
Cards and Debit cards, as well as, Check services.
using a third party provider of EBT/Debit & Credit Card Processing
prepared to do daily batches, so the merchant knows exactly how
much they sell per day.
provide the merchant with the option of accepting all formal
payment types available.
does not necessarily need to have a dedicated phone line.