Maestro as a Payment System in Casinos
Maestro is MasterCard’s multinational debit card service, founded in 1990. Maestro cards are issued by banks associated with the payment system and can be tied to the current account of the card holder and can also be prepaid cards. The card holder presents it at the cash point of the outlet and the card is held by a magnetic stripe in the terminal by an employee or customer or inserted into the device for authorization by a chip and a PIN code. The payment procedure is authorized by the card issuing bank for enough funds on the account to pay for the purchase and the card holder confirms the transaction by signing the check or entering a 4 or 6-digit PIN code. Within the European Union and in certain countries outside of it, Maestro is the main brand of a MasterCard debit card and the equivalent of a debit card signature that does not require electronic authorization, like a Visa Debit card. In most other countries, Maestro is equivalent to VISA Electron and Tertiary MasterCard cards. This requires electronic authorization, like a Solo debit card, that is, in addition to reading information stored in any chip or magnetic strip, it must be sent by the seller to the issuing bank, and that, in turn, must give authorization approval. If the information is not readable, the issuing bank will reject the transaction regardless of the amount available on the card linked to the card. This is in contrast to other debit and credit cards in which information can be entered manually in the terminal, for example, by entering from 13 to 19 digits of the card number and its validity period and subsequent approval by the issuer or processor.