What systems software can run domestic debit card without banks?
While it is challenging for a system to completely operate domestic debit cards without any involvement from banks or financial institutions, there are some solutions and workarounds that can facilitate debit card processing with minimal direct bank interaction:
Third-Party Payment Processors
Third-party payment processors like PayPal, Stripe, Square, or Amazon Pay can handle debit card transactions on behalf of merchants. These services create an intermediary layer between the merchant and the banking system, allowing businesses to accept debit card payments without a dedicated merchant account2.
Payment Gateways with Aggregated Accounts
Some payment gateways offer aggregated or shared merchant accounts, where multiple businesses use a single merchant account provided by the gateway. This setup enables businesses to process debit card payments without having their own dedicated merchant account2.
Card Management Systems
Advanced card management systems, such as those provided by ANMsoft or FSS, can manage the entire lifecycle of debit cards, including issuance, processing, and servicing. However, these systems typically require integration with banking systems or financial institutions to function fully. They can, however, streamline and automate many processes, reducing the need for direct bank involvement in day-to-day operations14.
PINless Debit Networks
PINless debit networks, which route payments through regional debit card networks rather than major global card schemes, can also be utilized. These networks, such as Accel, Pulse, NYCE, and Star, allow for debit card transactions without a PIN and can be integrated into a merchant's payment system. However, they still rely on the underlying banking infrastructure for transaction processing3.
In summary, while the systems mentioned above can facilitate debit card processing, they generally still require some level of integration or interaction with banking systems or financial institutions to operate effectively.