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Cardholders present the card at the point of sale (POS) and it is pulled through the checkout by the wizard or client, placed in a smart card and identification card, or scanned by a non-contact card reader. card readers are also able to see the card's status at the point of exit (POS). Authorisation for the transaction is given by the card issuer in order to make sure that the card holder has enough credit in his bank to complete the transaction and the card holder acknowledges the transaction either by signature on the proof of payment or by entry of his 4 to 6 digit personal identification number, except in the case of non-contact payments below a certain amount for which no further checking is necessary.
Mastercard's regulations only allow the setting of upper thresholds for Maestro EMV chips to be used for each EMV payment order. It is not only the information saved on the microchip or magnet strip that must be scanned, it must be sent by the trader to the issuer and the issuer must reply with a confirmed authorisation.
It differs from most other direct debits and credits where the information can be input by hand into the terminals (i.e. by entering the 13 to 19 digit numbers and the expiration date on the terminal) and has yet to be authorised by the issuing or stall operator. Unless a CVM (Cardholder Verification Method) is needed, most non-Mastercard jurisdictions always require a Login rather than a signatory to authorize a Maestro payment at all.
Maestro is the card used in Argentina by the Banco de la Nación Argentina and other banking institutions, mostly state or province-based. MasterCard in Brazil purchased the Redeshop in 2002 and renamed it Maestro. Maestro credit card is widespread in Chile and is distributed by most major banking institutions (Santander only offers Maestro credit cards).
You work through the Transbank and Cirrus networks. Normally Chilean Maestro maps have a small emblem on the back of the map. MasterCard debt card is not available in Chile. Chilenian Maestro postcards are usually non-contact. Maestro was known in parts of Latin America as MasterCard Maestro and used a different name.
Maestro in the United States is a PIN-based debt card scheme tightly linked to the Cirrus ATM scheme, which also owns MasterCard. As with other US residential debt payment systems, Maestro trusts only a default card and no chips card; US residential debt signatures are processed through MasterCard's primary card payment or Visa's competing card payment system.
RBS's former US affiliate, Citizens Financial Group, moved to Visa despite using MasterCard's Cirrus networking and participating in the MasterCard SecureCode initiatives, as did most overseas banking subsidiaries in the US. Maestro is very much loved in Venezuela. From 2014 it will be the premier debt card issuing from almost all large local banking institutions.
Can be used on all cash dispensers with the Suiche7B, MasterCard, Conexus and Cirrus logo. The Bank of China in China uses Maestro as its "international" credit card system. In addition, certain Bank of China cash dispensers offer the users either Chinese or Japanese linguistic choices when inserting a Maestro card. Maestro is the currency of most large Indian financial institutions, with the exception of ICICI Bank.
The Maestro investment houses are the State Bank of India (India's biggest bank), the subsidiary of the State Banka, Punjab National Banka, Syndicate Banka, Oriental Banka of Commerce, Banka of Rajasthan, etc. Maestro cards cannot be used for shopping at points of sale in Israel, but the Cirrus service is usually acceptable at most ATMs.
Maestro in Belgium carries the Bancontact emblem (formerly Bancontact/Mister Cash). Maestro was superseded in Denmark by the credit institutions that gave him the Debit MasterCard. In addition, the biggest Norwegian financial institution, Danske Banka, has substituted Debit MasterCards for all its moneymaps. Maestro has superseded the Eurocheque system in Germany and Austria.
Maestro Österreichische Karten are practically always Maestro-Karten. However, in most cases Maestro postcards are provided with the giro card emblem. The co-branding card works like a Maestro card in the Maestro service and like a Giro card in the Giro card service, but cannot be used as a Maestro over the phone or on the Inernet.
Maestro credit card issues in Greece were made by several large credit institutions. By March 2015, however, all four large banks in Greece have superseded the Maestro card with the MasterCard non-contact direct debit card. Laser, which was marketed jointly with Maestro, was in Ireland superseded by Visa Direct and Direct MasterCard. Laser credit card was rejected by all banking institutions and discontinued in March 2014.
From 2008 Irish Laser tickets wore the Maestro co-branding. One for laser and the other for Maestro. Normally point of sale operations were handled via the laser in Ireland and the Maestro if the card was used abroad. A number of point-of-sale terminal operators asked the user to choose Laser or Maestro manual before finalizing the deal.
Lasercards could be used as Maestro in most POS-terminal' all over the world for smart and PIN-transactions or to pass through and signing transaction (where they are still accepted). However, web and telephone-based merchants had to be specifically established to receive Irish Laser/Maestro card. Often MasterCard's SecureCode system used to secure card transaction with these credentials to check the cardholder's name.
As a rule, these were multifunctional and could be used both as direct debits and as ATMs, which could be used to access cash dispensers. A number of commercial banking institutions also permitted consumers to use their card to make deposits or withdraw funds at counters or postal branches using their direct debit card and personal identification number (PIN).
In the past, the card often included a check card feature marked by a unique logo. Foreign Maestro credentials are still acceptable in Ireland at cash dispensers and many POS devices. Visa and MasterCard debit/credit card acceptability, however, is universally more reliable at POS terminal. The Italian banking system issues Mastercard Maestro, Visa Direct and Visa VI payment card issuers (the latter only work in Europe); they are usually co-branded with the domestic Bancomat/PagoBancomat system.
Maestro credit card issuers in the Netherlands are most active in the banking sector, with only SNS Bank V issuing credit card services instead of Maestro credit card services. ING has also been issuing V payment card since 2018. 7 ] Before 2012, the Dutch Maestro credit card was provided with the Dutch system of PINs. The system has now been adopted and superseded by Maestro and V Pay.
Maestro was a favourite debt card in Romania (the third after Visa Electron and MasterCard ) and is still used by 2 banks: FRG (sprint card for students) and Credit Agricole. Maestro in Russia is published by a number of banking institutions, among them Sberbank, which publishes MasterCard Maestro Momentum and Social MasterCard Maestro Debit Card.
The former Switch credit card system in the UK was renamed Maestro. However, under the trademark, the system was still the old switch system and the boards were still basically switch. MasterCard UK Domestic Maestro (the former Switch) has coordinated with the Maestro offering in 2011 and ended its dual card regime.
These changes also resulted in the setting of the solo (debit card). In January 2009, First Direct and HSBC stopped using the Maestro card, exhibited Visa direct debit card to new subscribers and phased out the rollout to new subscribers during 2009. It was in September of that same year that the National Australia Bank's UK branches, Clydesdale Bank and Yorkshire Bank, began the replacement of the Maestro card with a MasterCard for their checking account, with the exception of Readycash and student bank balances, for which the Maestro card was still in circulation until 2015.
In the same months, the Royal Bank of Scotland Group (Europe's biggest card company with NatWest, Coutts and Ulster Bank brands) changed from Maestro to Visa Direct, a two-years long procedure. 10 ] This practically implied that only a few smaller British bankers would issue Maestro badges.
The Bank of Ireland UK superseded its Maestro debt card with Visa in 2015.