21 Oct Maestro expires – checking card payments on the decline?
It does not come as a complete surprise to the professional world: The Mastercard credit card scheme is allowing “Maestro” to expire by mid-2023. Developed in 1991 by Eurokartensysteme as a subsidiary of the German banks, which has since been sold to Mastercard for a long time, this EC card-oriented low-cost payment scheme no longer fits into the high-priced world of credit card organizations. Their own new DirectDebit products are significantly more expensive for retailers and thus ultimately also for customers. It is exciting to see who could find the gap to be expected. The planned large European Payments Initiative (EPI) of various banks and associations or perhaps an innovative smaller provider. On verra.