The MasterCard Incorporated is one of the world's major credit card companies.
MasterCard grants licenses to banks around the world for the output of their cards ( issuing licenses) and for the recruitment of contractors ( acquiring licenses). The acceptance of MasterCard is around 35 million contract companies and about a million cash payout locations worldwide (as of 2013). In Germany the map of about 515,000 contractors will be accepted.
The product portfolio of MasterCard includes the MasterCard credit card issued in Europe in the years 1964 to 2003 as Euro Card, Debit card Maestro ( especially in Europe ), Debit MasterCard or MasterCard Money ( U.S. only) and MasterCard electronic (especially in Eastern Europe and Asia ), as well as a cash withdrawal card Cirrus. There is also a MasterCard Prepaid, which is charged by bank transfer or standing order with money. Here, there is no risk to overdraw his personal credit line. A variant of this card is the Mastercard prepaid young people who can be disabled for individual traders categories such as gambling, and / or adult entertainment. For payments on the Internet, there are those, according to the company, secure payment form Mastercard SecureCode.
MasterCard is together with Europay International ( Euro Card) and Visa International Service Association one of the founders of the EMC specification for credit cards with chip.
1951, the first MasterCard brought the Franklin Bank out in New York City. Today you can pay in more than 210 countries with MasterCard. 2013 is MasterCard ( 97th place, 4.2 billion U.S. dollars) by Visa ( No. 74, 5.4 billion U.S. dollars) and American Express ( No. 23, 17.6 billion U.S. dollars) is the third - most valuable credit card brand in the world.
MasterCard cards with Paypass logo allow through their radio chip contactless payments up to a certain limit without the cardholder to authenticate. The limit lies in the euro zone at 25 Euro, in Switzerland 40 francs. It is possible to perform Paypass transactions with a higher amount, but then a cardholder authentication by signature or PIN entry must be made. Which method thereof shall be permitted depends on the settings of the card. In some countries (including Germany, Austria, Switzerland ) is an authentication by PIN possible, other markets do not allow this, here, in such a case, if appropriate, put the card and a conventional contact-type transaction are performed. With the PayPass functionality may be issued both credit cards ( MasterCard Paypass ) and debit cards (Maestro Paypass ). The amount is then debited each from either a bank account or must be charged in advance ( prepaid ). Since the communication between card and terminal is contactless, it does not have to be a card that Paypass functionality can also be equipped with RFID stickers ( you can stick on a cell phone, for example ), RFID watches or NFC phones etc. are implemented.
The customer or payer authorizes the payment by holding his credit card with contactless payment function before a corresponding terminal of the merchant or payee. The terminal reads the required data from contactless and confirmed its part, the payment process through an audible and visual signal. In this non-contact form of cashless payment is no longer required by the payer that he gives his card out of his hand, intercalates into a terminal, enter their PIN, press a confirmation button or a receipt to sign. It is sufficient even if one simply keeps all his wallet containing the card from the reader; However, this does not work if the wallet also contains other radio chip cards, to which the reader responds, such as the new German ID card, after which the payment then fails. Thus, the contactless payment saves time and is easier than any other previous payment method, including the cash to handle. With regard to the safety of this procedure concerns were already noisy as the procedural means for tapping personalized information, duplicate payment execution and unwanted copying the card installed open.
MasterCard Display Card
In November 2012 the Standard Chartered Bank announced based in Singapore to issue a new credit card with integrated display and keyboard to their customers. The so-called display card is a full-fledged MasterCard and both equipped with touch-sensitive keys as well as a monochrome display that are used for authentication. For example, the Bank and MasterCard promise of being able to curb fraud when shopping online.