Debit cards will be issued under new brands

As of July 1, 2023, the Maestro brand will be discontinued. Debit cards of Mastercard and Visa payment systems are preserved, but they change their name and change technologically. A new brand of Mastercard debit cards is Debit Mastercard, Visa is Visa Debit. But it's not just the brand that's changing: the new cards are better protected by the new chip, and they'll be easier to use outside of the Netherlands. Such debit cards are closer in functionality to credit cards, which means that they will be easier to use for payments abroad.

Banks issuing plastic cards of these systems will replace them gradually. Rabobank started doing this a year ago, the rest of the banks will start replacing from July 1. The old-style cards will be discontinued after five years. That is, you do not need to immediately run to the bank and change the cards - they will work until they are scheduled to be replaced.

Important! If your business accepts debit card payments, you need to make sure that the terminals are suitable for accepting new brand cards.

Payment service providers have already developed all the necessary products. Usually, in order for the terminal to accept new cards, it is enough to update the program. Just in case, check with your terminal vendors to see if they require an update.

Important! When accepting payments from debit cards issued by foreign banks, the percentage for this service may exceed that set for cards issued in the Netherlands. Typically, payment service providers charge between 1,1% and 2.2% of the payment amount.

Replacing cards can activate scammers. Perhaps they will try to "bait" old payment cards under the pretext of replacing them. Never agree to send a replacement card by mail or give it to unauthorized persons! Banks never ask for this.

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Publication Date: 05.07.2023