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From the check and ATM card to the online debit card

Starting from the two origins and creation of various credit card cloning with prompter debiting of the account/bank cheques account was created a wide variety of debit cards.

Only the ATM-and-POS function remained the former after the setting of the eurocheque services end of 2001. More or less all 72 million checque already at that time wore the Maestro logo – the logo for the online PIN debit product of the MasterCard organization – and allow their cardholders worldwide figures and global cash card and PIN. A part of this card has the Maestro function for cross-border transactions in addition to a national debit function for transactions in the country, another part of the Maestro logo used as a domestic brand, with which the cardholder must only pay more attention to a logo.

Similar as in the United States there was also pure ATM and later ATM and POS maps usually for National Institute specific ATM network and POS payment systems in Europe. These have been equipped to achieve wider application, with the debit logo of international card organizations.

From this pool, Maestro, as well as the Visa organization gained additional cards. Of the Visa/debit brand electron – is visa an online debit product based on signature POS payments and PIN for cash withdrawals at ATMs – the most common.

In the United States, a boom of the ATM and POS maps, now issued by almost all financial institutions began with increasing concentration of the switches. These cards are often equipped with multiple switch logos, if a financial institution not only in a region retail banking operates.

Today, Concord EFS with star, the largest switch, where now the former switches honor, Mac and cash station, integrated, is a major in the East of the United States of active switch, which should be incorporated soon into the dominant switch star. This group’s market share is more than two thirds (2002) POS transactions. In the meantime, Concord EFS was taken over by FDC, one of the largest providers of the credit card contract corporate services of the United States of.

With the upward trend of the credit card business, US banks soon realized that on the basis of the card processing at the POS according to the rules of MasterCard and Visa also a direct load of the cheque account for those customers that financially do not qualify for a credit card in question or who are not interested in a revolving credit, is often useful. These cards – MasterCard MasterMoney, Visa Cheque Card – to be accepted by any MasterCard or visa partners with POS terminals for cashless payment.

Each transaction is authorized by the card-issuing bank online. As with credit cards, the data transmission for the clearing and settlement is in hindsight. The card holder verification is done at the POS as in credit cards by signature.

Usually, such debit cards with the MasterCard or Visa logo wear also the logo of one of the great U.S. switches, so that the transaction is a master card or Visa transaction with signature or a PIN switch transaction depending on the decision of the cardholder at the point of sale, if the companies that accept card payments both payment options. If only one of the two payment options offered on the part of the trade or service company, the POS transaction via this procedure is performed. For ATM transactions, the routing (and thus the clearing and settlement) to the respective switch is primary and secondary to MasterCard or visa.

The two world’s largest debit card systems, Maestro and Visa Electron, trying at present to participate in the fast-growing debit card market and

in those countries where there are existing local/regional/national debit card schemes, to incorporate these into their systems and
in those countries where debit cards (still) not distributed are to create a debit-card-based through the issuance of cards via member banks.

This trend shows that more debit cards become globally online debit cards. At the same time, there are massive efforts of Maestro and Visa Electron, to ensure worldwide also the card acceptance through the acquisition by contractors with appropriate POS terminals.

An at least temporary turn in the internationalization of debit cards is gradually replacing of the globally applicable Maestro card through the V pay card currently Europe-only.