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Logo Maestro

Maestro

Maestro is a multi-national debit card service owned by MasterCard that was founded in 1990. Maestro cards are obtained from associate banks and can b

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INTRODUCTION

Maestro is a multi-national debit card service owned by MasterCard that was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards. The cardholder presents the card at the point of sale (POS) and this is swiped through the terminal by the assistant or the customer or inserted into a chip and PIN device. The payment is authorised by the card issuer to ensure that the cardholder has sufficient funds in their account to make the purchase and the cardholder confirms the payment by either signing the sales receipt or entering their 4 to 6-digit PIN. Within the EU and certain other countries, Maestro is MasterCard's main debit brand and is the equivalent of signature debit card which does not require electronic authorisation, similar to the Visa Debit card. 
In most other countries, Maestro is equivalent to a Visa Electron and is MasterCard's tertiary card. It requires electronic authorisation much like a Solo debit card, i.e. not only must the information stored in either the chip or the magnetic stripe be read, this has to be sent from the merchant to the issuing bank, the issuing bank then has to respond with an affirmative authorisation. If the information is not read, the issuer will decline the transaction, regardless of any disposable amount on the connected account. This is different from other debit and credit cards, where the information can be entered manually into the terminal (i.e. by punching the 13 to 19 digits and the expiry date on the terminal) and still be approved by the issuer or stand-in processor.  


PAYMENT METHOD PROFILE | Maestro

Supported by # Providers

163
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Available in # Countries

5
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shopping carts

Supported by # Shopping Carts

0
 

E-wallets will equal cards as the most popular payment method globally.
In 2012, $295 billion was processed through e-wallet payments. This is set to rise to $1,656 billion by 2017.

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Available in the following countries

Austria


Belgium


Italy


United Kingdom


Spain


COMPANY DETAILS

Maestro is a multi-national debit card service owned by MasterCard that was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards. The cardholder presents the card at the point of sale (POS) and this is swiped through the terminal by the assistant or the customer or inserted into a chip and PIN device. The payment is authorised by the card issuer to ensure that the cardholder has sufficient funds in their account to make the purchase and the cardholder confirms the payment by either signing the sales receipt or entering their 4 to 6-digit PIN. Within the EU and certain other countries, Maestro is MasterCard's main debit brand and is the equivalent of signature debit card which does not require electronic authorisation, similar to the Visa Debit card. 
In most other countries, Maestro is equivalent to a Visa Electron and is MasterCard's tertiary card. It requires electronic authorisation much like a Solo debit card, i.e. not only must the information stored in either the chip or the magnetic stripe be read, this has to be sent from the merchant to the issuing bank, the issuing bank then has to respond with an affirmative authorisation. If the information is not read, the issuer will decline the transaction, regardless of any disposable amount on the connected account. This is different from other debit and credit cards, where the information can be entered manually into the terminal (i.e. by punching the 13 to 19 digits and the expiry date on the terminal) and still be approved by the issuer or stand-in processor.  

COMPANY ADDRESS


10577

PHONE & EMAIL

Main Phone Number
Main Fax Number
Email

WEBSITE AND BLOG

Website
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SOCIAL LINKS

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