Maestro (debit card)

Maestro is an international debit card service; a joint venture by Mastercard and Europay International. Maestro cards are obtained from associate banks and linked to the cardholder's current account. The cardholder presents the card at the Point of sale (POS) and this is swiped through the terminal by the assistant or dipped into a PINpad. 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 enters their 4-digit PIN. In the UK, Maestro cards issued abroad have to be verified by signature unless they have a chip.

Related Topics:
Debit card - Mastercard - Point of sale - PINpad - PIN

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In Europe, Maestro is the successor to the Eurocheque and Eurocard systems. In the United Kingdom all Switch and Solo debit cards have Maestro capability in order to allow card holders to make payments outside of the UK. As of 2004 Switch is being gradually rebranded as Maestro; however only the brand is being adopted - the system will still be managed by the Switch card scheme.

Related Topics:
Europe - United Kingdom - Switch - Solo - 2004

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In Ireland, customers of AIB are receiving a new AIB Maestro debit card which is to replace the current Laser card. The new card which uses Chip and Pin technology, can be used for all POS transactions that accept Laser or Maestro. The card can also be used at ATM machines that accept Link, in addition to the Maestro supported machines.

Related Topics:
Ireland - AIB - Laser card

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