Mastercard is an incredibly popular payment method in dozens of countries across the globe. Its popularity does vary by country and the agreements that the network has managed to strike with central banks in particular areas.
For example, Mastercard used to be the dominant payment network in the UK. However, the arrival of the Visa Debit network in the 2000s saw many banks defect to their primary rival, a trend that Mastercard has never been able to fully reverse.
Most people with access to a bank account will find that they can get their hands on a Mastercard. Those with poorer credit ratings are likely to be limited to the Mastercard Debit product. Customers with a more robust track record will have access to Mastercard Credit products which allow them to run up a balance which they then must repay at an agreed interest rate.
As well as being a popular deposit method at live casinos, Mastercard is accepted by the vast majority of online retail websites and in most stores. Even smaller shops, which for many years did not accept credit or debit cards in an attempt to keep processing costs as low as possible, now take Mastercard products.
Pros | Cons |
| Security: Without overstatement, Mastercard is one of the most secure payment systems you can ever use at live casinos. With the casino industry packed with so many rogue payment service providers, every casino player wants to choose a service that guarantees security for their money, and Mastercard is the go-to when it comes to that. | Slow withdrawal times: Mastercard is great in many ways, even though sometimes it has slow withdrawal times. |
| Availability: Mastercard offers services in the majority of countries around the world, on almost every continent. As such, the majority of live casinos also support this payment method, so players don't struggle to find a banking method available in their countries. It is this availability that makes Mastercard popular. | Less secure than other options: Even though Mastercard is great in many ways, its not as secure as an e-wallet or prepaid option. |
| Low fees: On top of being a widely supported payment method, Mastercard does not charge any fees when it comes to casino deposits. Yes, no gambler wants to lose even a single cent when saving that cent is possible. Withdrawals usually charge a small fee, but that's not out of the ordinary. | Limitations: The limitations for holding a MasterCard account are almost similar to those of other credit, debit, or prepaid cards. They include age limits and financial capabilities. The limitations are relatively mild and allow for almost any qualified individual to get and utilize a MasterCard to make deposits or withdrawals. |
| Generous limits: Some live casino players are high-rollers, which means they deposit large sums of money on a regular basis. With Mastercard's generous limits, this category of players has little to no worry about hitting their transaction limit. Online shoppers also have these generous limits to take advantage of. | |
Other Payment Methods Like Mastercard
History of Mastercard
Mastercard was initially founded by Bank of America as the Bankamericard in 1958. Although the launch was beset with problems, the card quickly became an effective profit option for Bank of America, and the company began work to expand the card into other markets. In 1966, the product joined the Interbank Card Association. Shortly after that, Mastercard formed a strategic alliance with Eurocard, giving the brand true international reach for the first time.
More recently, Mastercard has continued to expand by buying regional payment networks in other countries or signing them up as affiliates. This was the case with Switch, which was the major interbank debit card network in the UK until it was rebranded as Maestro in the 2000s.
Mastercard has moved to align its products by launching Mastercard Debit. This gives debit card customers access to the same network of stores, websites, and live casinos as holders of Mastercard credit cards.
As Maestro's acceptance, particularly online, had been relatively poor compared to its credit card sibling, this was a significant development for many Mastercard customers. It has also made it far easier for debit card users to spend money and use websites outside their home country.
