Millions of Maestro debit cards will be replaced in the Netherlands from mid-2023. Mastercard and Visa payment institutions are working on new technology that will transform Maestro and V Pay into Debit Mastercard and Visa Debit.
Debit cards are getting closer to credit cards because of this new technology, making them easier to use for online payments, Reports Dutch Payments Association.
in a permit Inform Mastercard that Maestro has been discontinued. The company assures that cardholders have nothing to do. Once the card expires after July 1, 2023, the bank will send out a new debit card that works the same.
Maestro is the most widely used payment standard in the Netherlands. The current system works well for in-store payments, but the technology was not designed for online payments. Even abroad, the card doesn’t always do what it’s supposed to do. Your new debit card must change this.
From next year there will already be payment terminals in the Netherlands which will accept new cards, in most cases this is a software update. Indeed, permits are already in use in a number of other European countries, such as Germany and Belgium. These cards will also soon be accepted in the Netherlands, which is good for these card holders.
ING says it is still investigating what this news means for ING and its customers.
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