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Maestro, Visa or MasterCard prepaid card - more than just a difference in brand

Prepaid cards are fast becoming the preferred payment option for a number of online and offline transactions and the rapid growth and usage of these cards in various sectors such as Money Transfer, Travel Money, Payroll, Online Shopping, Gaming, Youth and Business is already well documented.

In most cases, these cards tend to be branded with MasterCard or Visa scheme badges whilst Maestro seems to be extremely popular in the UK and the question most consumers ask is whether it really matters and why does it matter whether their card is a Maestro, Visa or MasterCard card.

Well the simple answer is, yes it does, and that depends on where and how you intend to use your card.

Risk and attractiveness to Fraudsters
Global acceptance and the millions of locations where they can use their prepaid card is an important consideration for travellers who are using prepaid cards as travel money. Furthermore, the chances of a prepaid MasterCard being accepted on gambling, gaming and adult sites is far higher than a Maestro branded card. Unfortunately, the flip side is that a MasterCard is probably more attractive to fraudsters than a Maestro card, even though prepaid cards operate in a safe and secure environment. So, maybe a Maestro card is the right one for you, if you are risk averse and your main usage is for online shopping and or high street usage in the UK.

Acceptance Globally
There are big differences in card acceptance across the globe, so you need to take great care and ensure the card is right for your needs before making a final selection. If we look at some quick stats on worldwide acceptance, we see

• MasterCard: Over 28 million worldwide acceptance locations
• Visa: Over 12 million worldwide acceptance locations
• Maestro: Over 9 million worldwide acceptance locations

Fully branded Visa or MasterCard travel cards are accepted at millions more merchants around the world. Whilst Maestro and Electron acceptance rates are increasing, you could still experience difficulties using these cards to purchase goods in many destinations.

Maestro acceptance is continuously improving, and card acceptance is currently around 960,000 locations and internet sites in the UK, and 9 million locations worldwide. Over a 100 countries around the world accept Maestro. But, many do not, so it is important to check acceptance before purchasing a prepaid Maestro card for your holiday money or international money transfer. Maestro prepaid cards can be used at the ATM internationally, wherever you see the Maestro or Cirrus payment mark.

MasterCard is currently accepted around the globe at merchant outlets and ATM machines, where you see the MasterCard (or Maestro/Cirrus) sign. You can use your prepaid MasterCard at more than 28 million locations worldwide.

A Visa prepaid card works like a Visa credit or debit card, with the exception that each transaction must be electronically authorised. Your Visa pre paid card is accepted in over 160 countries, at over 12 million electronic merchant locations worldwide. 1 million ATM machines displaying the Visa or PLUS payment mark accept Visa Electron.

Currently, MasterCard offer the best worldwide acceptance and are widely mooted as the most popular scheme badge and hence represent a popular option for prepaid card programme managers looking to deliver programme success. They are also popular with consumers looking for enhanced global acceptance albeit, with a slightly higher element of risk.

Find the right prepaid card for you
Visit Prepaid365 to find out more about Maestro, Visa and MasterCard prepaid cards to find the best prepaid card to suit your needs.