MasterCard is among the largest card providers, both of credit and debit cards, and also prepaid debit cards. This brand, along with Visa, is accepted by all online bookmakers. The provider of the financial services MasterCard Inc. is headquartered in New York, United States. It processes payments made between MasterCard issuing banks and merchants' banks. The previous names of this brand were Interbank, and Master Charge, until 1979.
Banknet is the global network which links all MasterCard issuing institutions, acquirers, and centers for related data processing. This telecommunications network is very different from Visa's network. With Visa, the processing arrangement is star based, with all transactions processed centrally. With MasterCard, transaction reach directly endpoints, not getting to a single point, and that provides this network with greater resilience, because if a failure occurs in one point, the other end points will not be isolated.
Prepaid debit MasterCard
The prepaid debit MasterCard was created in 2009, for electronic payments, as a facility for customers who do not have bank accounts. The issuing bank is Comerica Bank, headquartered in Dallas, Texas.
Multi-Currency Cash Passport
This service was established via a partnership between MasterCard and British Airways, and is designed to offer the executive club members facilities for paying in different currencies and earning extra points too. With this service, users can load as many as 10 currencies, not only GBP, USD, but several other currencies frequently used. The card service will choose the local currency and ensure the best exchange rate for the card owner. If the local currency has not been loaded, the card will use money in other currencies.
This contactless card enables its owner to make payments by tapping the card or another payment device, which can be a phone or a key fob, on a terminal reader at a point of sale, instead of swiping the card, or inserting it into the card reading device at the point of sale. This method of payment can be used for transactions up to small amounts, like 50 USD, or 30 GBP, or similar amounts in the other major currencies.
The partnership between MasterCard and Google led to the launching of the Google Wallet application for Android in 2011. With it, mobile device users can send information on credit or debit cards directly to a special payment terminal which must be enabled for the purpose. Thus the use of physical card is avoided. Google Wallet is still used for Play Store purchases, and app based peer to peer payments.
Android Pay is the successor of Google Wallet, and also uses the technology of Softcard acquired by Google in 2015. When Android Pay was launched, it supported MasterCard and Visa cards, both debit and credit ones, and debit cards of a number of UK financial institutions, like the Bank of Scotland, Halifax, etc. Increasingly more banks are added or are due to be added soon, like UK's TSB, Santander, etc.
How to make payments with MasterCard on online bookmaking sites
With the ubiquity of MasterCard, you will easily make payments on the online bookmaker site of your choice, and it is certain to accept this type of cards.
For the purpose, you must fill in your financial and contact details, the card number, the date of expiry, the security code, if there is one. The filling in of these data will depend on the type of your MasterCard. That is a process common for other major card types, like Visa and Maestro. You can make your payments using a debit card, a credit card, or a prepaid card.
When you are planning a withdrawal, you should note that you will have to select an alternate method for withdrawing. That is due to the peculiarities of the processing system for this type of card. Moreover, that is needed if the amount you are planning to withdraw exceeds your original deposit.
Security of payments with MasterCard
When you make payments using a MasterCard, you will be protected by high security typical for the processing of payments with cards of that brand. The tools used to monitor and detect frauds are constantly maintained and improved. MasterCard is giving card holders one more type of payments to enhance the security of digital payments, by means of tokenisation. That means the card's primary account number is replaced by a token. Thus the sensitive data are replaced by a token which is processed by a special tokenisation and detokenisation system. It will even issue randomly generated tokens, to enhance your payments security.
With your MasterCard, you have the advantage of zero liability, which means that you will not bear the responsibility for unauthorised transactions made either in brick and mortar shops or online. You will be relieved from responsibility for unauthorised transactions provided you have taken sufficient care to protect your card from theft or loss, and you have immediately reported to your MasterCard issuing institution the theft or loss of your card. Please note that the zero liability does not apply to unregistered prepaid cards.
Security of payments with online bookmakers
In addition to the security measures provided by MasterCard and your card issuing institution, you can rely on high security when you make payments on onlike bookmaking sites, thanks to the high level of encryption they use. Furthermore, when you make digital payments to deposit into your online bookie account, you will be asked for the MasterCard Securecode. With the Securecode, you will have additional security when making your online payments.
What fees are due when you deposit using MasterCard
Typically, you should not expect to be charged any fees for depositing using a MasterCard. However, if you have deposited via a credit card, that transaction will be treated as a cash withdrawal by your issuer, and you will be charged a higher interest rate compared to the rate for point of sale transactions. But that is a practice that is applied for all credit cards payments.