Wal-Mart to Accept Low-Cost Debit Network

New York City, Wal-Mart Stores is now accepting debit cards issued by retailers and authorized through the Debitman network from Debitman Inc.

According to the Chico, Calif.-based company, Debitman provides merchants with a low-cost electronic-payment alternative to bank-issued debit cards and escalating interchange fees. Merchants accepting Debitman cards issued by other retailers pay only a flat 15? per transaction. Retailers that issue Debitman cards receive a portion of the interchange whenever those cards are used.