MasterCard is a global technology firm that expedites digital payment methods to merchants on behalf of financial institutions. It collaborates with various institutions, mostly banks, which issue MasterCard payment cards on its behalf. Offering credit, debit, or prepaid cards, MasterCard has made it easy for people from all over the world to make payments seamlessly. Initially, the use of MasterCard payment cards was limited to purchasing merchandise and service. However, MasterCard has since expanded its scope, now accommodating even online casino payments. It is worth noting that any credit card that carries the MasterCard logo process all its digital payments using the MasterCard network.
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Credit cards with the MasterCard logo can be used everywhere. MasterCard offers its services by collaborating with various institutions, which issue cards to their customers. All payment cards have a Bank Identification Number (BIN), also known as the issuer identification number. This number is used to distinguish the network process. The BIN is also used during the payment verification process to ensure that the cardholder’s account has adequate funds before the transaction is authorized. It is worth noting that MasterCard also gives financial institutions the prerogative to customize the card and draft the terms and conditions applicable to the cardholder.
MasterCard has been a trusted payment method for decades and probably the most used payment method. Besides mainstream applications such as making payments for products and services, leading casinos have it on their payment methods list. Making payments on an online casino using MasterCard is easy and fast. Moreover, it employs industry-leading security features such as the unique pin and tokenization. This has made this payment option particularly appealing to casino operators and players. Most online casinos today have MasterCard in their list of payment methods. Depending on the casino, it can be used for both deposits and withdrawals, thus enhancing its credibility.
Getting a MasterCard is simple. Anyone who has attained the age of majority can get a MasterCard. Local banks usually offer MasterCard cards. MasterCard users have two main options; debit and credit card. Of the two options, the MasterCard is only available to anyone with good credit. For those who prefer paying upfront, the MasterCard debit card might be ideal. Overall, anyone with a bank account is eligible for a MasterCard. The steps followed in getting a MasterCard can be summarized as follows; submit a request, pay a small fee, and walk away with the card.
MasterCard works closely with financial institutions to ensure that user accounts and payments are in safe hands. It also employs a range of security features, which play an integral role in curbing theft and fraud. Among the range of award-winning security features include Chip Technology, Contactless Security, SafeCode, and Tokenization. Besides, it also adds an added security layer using the zero liability policy, which protects the customer from liability for any losses, provided card details are kept safe. Users can always reach out to the MasterCard Global Service, a 24/7 customer support phone service, for any concern.
MasterCard’s history dates back to 1966 when the interbank card association (ICA) was formed in California. They arrived at the ‘product,’ “Master Charge: The Interbank Card,” to facilitate payments between different banks through collaborations with other banks. In 1968, ICA expanded to the European markets after forming a business alliance wince with the Eurocard. After a couple of years, the “Master Charge: The Interbank Card” was renamed MasterCard. MasterCard acquired a competing card service known as Access in 1977, only to retire it as part of their strategy to cement their industry position. As MasterCard’s scales up operations worldwide, such as introducing a mobile wallet feature on iPhone models.
MasterCard and Visa are competing payment processors. While both enjoy a global appeal, each payment processor has its unique network. This means that MasterCard cards cannot be used on Visa’s network and vice versa. It is always advisable to have both cards as a means to access your accounts.
Having a MasterCard on your wallet comes with unsurpassed benefits when making payments. You can use your card almost globally, provided they accept MasterCard as a payment method. This payment processor also caters to a range of online transactions, including casino deposits and withdrawals.
Yes. MasterCard employs advanced security features that make it almost impossible for fraudsters to steal from you. As long as card details are not shared with the wrong persons, money is safe. In the case of online purchases, cardholders are advised to stay away from websites without the SSL-encryption.
A MasterCard can serve as both a credit and debit card. This means that MasterCard is essentially a payment network that only serves to process payments online. So the bank or the issuer decides whether the MasterCard serves as a credit card or a debit card.
Financial institutions that issue MasterCard will hold user responsible for “unauthorized transactions,” As much as MasterCard offers a Zero Liability policy for purchases and payments as a safeguard against online fraud, users are advised to desist from sharing card details. Moreover, the 3D Secure payment system further protects against unauthorized card use.