Created in 1966, MasterCard is an international organization whose essential function is to process payments between the banks of merchants and consumers. As such, MasterCard branded credit cards are accepted in more than 200 countries worldwide and by more than 20 million companies. In addition to this a MasterCard credit cards can be used both domestically and internationally in ATM’s to withdraw a range of currencies.
MasterCard remains one of the most popular ways of depositing money at online casinos worldwide and is generally considered one of the most reliable and safe methods of payment online. It is accepted at virtually every online casino worldwide. A fee is generally charged when depositing via your MasterCard.
How does a MasterCard card work?
MasterCard credit cards are issued once the bank has approved an account. Once the account is approved, the cardholder can use it to make physical and online purchases at any retailer or website that accepts MasterCard. As the cardholder you borrow credit from the bank and pay it back at an agreed rate of interest. MasterCard facilitates the function of processing payments between you and the merchant.
A MasterCard will always have a pre-determined limit, which is dependent on how much credit your bank is willing to provide you with. Credit ratings and other internal bank scoring have an effect on this limit. The card itself has a card number, expiry date and a CVV security code on the reverse, which is given when making online purchases. You can generally access information about your MasterCard account via Internet and mobile banking services.
MasterCard: The pros and cons
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