Maestro is a debit card and a product of MasterCard. As a subsidiary company, Maestro has a unique logo, which is usually displayed at the checkout page of online merchants and casinos. It was introduced in 1991 at Mastercard International Global Headquarters in New York, United States. The company is currently run by Michael Miebach, the president and CEO, together with the executive chairman, Ajay Banga. In 2002, Maestro merged with Switch debit cards to expand its outreach in the UK. Today, it has reached more than 100 countries and about 15 million business outlets.
Those who want to acquire Maestro debit cards have to send their applications to associate banks. The card is linked to the cardholder’s bank account. This can be the current or savings account. It can be used at an ATM and point of sale. Payments are processed by inserting the card into a chip, contactless reader, or swiping at the sales terminal. The card issuer has to authorize the transaction, making sure that the linked bank account has sufficient funds. Then the cardholder confirms payment by entering a PIN or signing a receipt. No further verification is needed for contactless payments with Maestro cards.
Ideally, no credit funds are involved when transferring money with Maestro. Such a mechanism makes sense for live game players who want to keep their betting under control. It has become a perfect tool for convenience and responsible gambling. The fact that it is run by MasterCard, users can gamble peacefully knowing they are dealing with a reputable card provider.