The Debit Mastercard is a debit card. It uses the same systems as the standard Mastercard credit card but does not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.
Video Debit MasterCard
Algeria
Several banks offer Credit and Debit Mastercard in Algeria (Algeria Gulf Bank, Banque de Développement Local, Crédit Populaire Agricole).
Maps Debit MasterCard
Argentina
In 2011, Banco de Córdoba started offering Mastercard Debit to its clients, as a direct competitor to the Visa Débito card. However, this wouldn't be a direct replacement of all Maestro cards in the Argentine market, since it will be analyzed with each bank.
Australia
As in the UK, in Australia the Debit Mastercard is a competitor to the Visa Debit cards provided by Visa Inc.
The Debit Mastercard was first launched in Australia by Westpac in 2006 as an alternative card for the bank's Cirrus cardholders.
The Commonwealth Bank, ME Bank and Westpac are notable for being the only banks in Australia to issue a Debit Mastercard to any account holder age 16 and older, whereas other institutions require cardholders to be age 18 or older.
Baltic states
Swedbank has offered Debit Mastercard in Estonia since 2011, Latvia and Lithuania since 2012. Nordea has offered Debit Mastercard in Latvia since 2016. SEB has offered Debit Mastercard and Visa Debit for years equally in the Baltic states, but since March/April 2014 SEB decided to prefer Debit Mastercard as their main debit card, still somewhat offering also Visa Debit
Canada
Debit Mastercard has been launched in Canada in July 2016 with Bank of Montreal.
Germany
Deutsche Bank, KT Bank, O2 Banking, Fidor Bank and N26 offer Debit Mastercards to their customers. Netbank offers a Mastercard Debit since October 2017.
Greece
As of March 2015, all four major Greek banks offer a contactless Debit Mastercard to their clients.
Eurobank Ergasias is replacing its Maestro line of debit cards with a new Debit Mastercard.
The National Bank of Greece (NBG) started replacing its Maestro debit card with a new Debit Mastercard in March 2015. NBG is the last one of the four major Greek banks to offer a Debit Mastercard to its customers, and like Eurobank it only offers this debit card.
The other two major Greek banks offer Debit Mastercard cards as well, but not exclusively. Piraeus Bank has added the option for a Mastercard Debit card alongside the Visa Debit (formerly Visa Electron) card that it had been offering in the past as the exclusive option. Also Alpha Bank offers Debit Mastercard and Debit Mastercard Contactless as one of three options for a debit card. It is not clear which debit card these two banks promote the most to customers that do not have a specific preference.
Netherlands
bunq bank issues a Debit Mastercard to its premium customers.
Philippines
Major banks like BDO, Metrobank, Security Bank, and PNB issue Debit Mastercard.
The country's largest bank, BDO is the first bank to roll out the first-ever Debit Mastercard with an EMV chip in the Philippines. This is for the enhancement of the security features and also for the safety and security of its cardholders.
Debit Cards like Mastercard are also accepted in several Point of sales in the Philippines.
United Kingdom
In the United Kingdom, the Debit Mastercard operates alongside Mastercard's established Maestro debit card scheme, which previously were the only debit cards provided by Mastercard. However, almost all providers have switched to issuing Debit Mastercard instead, as the previous Maestro debit cards are not accepted as widely worldwide, unlike the Debit Mastercard which is accepted worldwide wherever Mastercard is accepted. Although, currently, the Maestro scheme still remains in place. Main issuers of Debit Mastercard are Clydesdale Bank (incorporating Yorkshire Bank), Danske Bank, Virgin Money, Metro Bank, Starling Bank and Monzo Bank.
The Debit Mastercard is a competitor to the Visa Debit cards provided by Visa Inc.
United States
In the United States, unlike Australia and the United Kingdom, three levels of Debit Mastercard are available: Standard, Enhanced, and World. In 2012, there were four levels of Debit Mastercard available: Standard, Gold, Platinum and World.
See also
- E-commerce credit card payment system
- Payment card
- Payment service provider
- Wire transfer
References
External links
- Official Website (UK)
Source of the article : Wikipedia
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