"PIN-based” debit transactions call for customers to authenticate payments by submitting their personal identification numbers (PINs) at the point of sale. The transactions are authorized in real time and funds are transferred immediately.
“Signature-based” transactions require either the customer to swipe their card at the register or the merchant to swipe the card through their payment terminal. Debit sales are completed the same way as credit card transactions; the customer signs the sales draft that authorizes the merchant to debit their account.