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Mastercard is a cashless financial processor with corporate headquarters in Purchase, New York, the U.S. The company, originally called Interbank and then Master Charge was created by a consortium of banks in 1966 in order to compete with BankAmericard, now known as Visa. 

Before listing on the NYSE in 2006, Mastercard Worldwide (NYSE: MA) was owned by more than 25,000 banks and other financial institutions that issued the branded cards.

The Interbank Card Association (ICA) went multinational in 1968 when the cooperative formed an alliance with Eurocard, giving them access to the European marketplace. The UK's Access card system joined the alliance in 1972 and that brand was retired in 1997.

Other significant milestones in the company's history include the 2014 acquisition of Australia's Pinpoint as well as teaming up with Apple the same year to create a mobile wallet in Apple's iPhones. In 2018, the company patented technology for blockchain (Bitcoin, etc.) payments on credit cards, but did not immediately enter into allowing blockchain payments or other cryptocurrency transactions. 

The company provides credit cards, debit cards, prepaid cards, and commercial card products. Mastercard is favored by many consumers for internet purchases including the funding of personal online casino accounts.

The company uses complicated and proprietary analytics including artificial intelligence to combat fraud.

Mastercard uses the 3D-Secure technical standard they call Mastercard SecureCode to protect consumers' credit cards from unauthorized use when making online purchases or casino deposits. After a single registration, a personal code is issued that must be entered each time an online transaction takes place.

How Mastercard Credit Cards Work

In a nutshell, there are actually five parties involved in any Mastercard online transaction:

  • The cardholder - Enters their name, 16 digit card number, expiry date etc
  • The Merchant - Or online casino 
  • PayFast - Mastercards "gateway" submits the data to the acquiring bank they use to fund your purchase
  • Acquiring bank - Authorizes the transaction
  • Issuing bank - The financial institution that issued your branded card send s a response or failure

At least four additional steps are added to the instantaneous payment process to authentic the cardholder and to authorize the card issuer without delaying a purchase by more than a few seconds.

At the end of your billing cycle, an invoice is created and a new credit card bill is sent. Consumers can pay it right away or let it accrue interest by making smaller monthly payments later.

How Mastercard Debit Cards Work

Mastercard debit and prepaid account cards work the same way as credit cards as far as the processing and security protocols are concerned. The difference is that rather than accessing a financial institution that has agreed to issue you a certain amount of credit, the funds come directly from your cash balance. In this way, you can never spend more money than you have budgeted or available.

Mastercard Conclusion

Mastercard is one of the most widely accepted forms of payment processing worldwide, including at online casinos. Some players who use a credit card prefer to purchase a one-time virtual card to make a deposit, especially when dealing with a new operator they are unfamiliar with. This makes it impossible for the processor to inadvertently "double charge" a transaction. This can sometimes happen in unregulated (restricted) jurisdictions when the gateway makes more than one attempt to process the payment discretely.

Some consumers prefer not to have a casino brand name on their credit card or bank statements, and players in certain regions aren't allowed to. When that's the case, other payment methods can be funded with Mastercard, leaving less of a trace for any prying eyes to see.

Some, but not all deposit methods can also be used to withdraw your casino winnings. It depends on your location and the credit or debit card issuer's current policies. If you plan to deposit and withdraw using a Mastercard product be sure to check with your casino cashier section for available withdrawal methods in your region.

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Online casinos accepting Master Card as a payment method

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User reviews marked with this logo are syndicated from LCB.org
lcb danbar123 danbar123
LCB User
Posted 4 days ago
This wouldn’t be my first option. Mainly because I’m more into making a deposit and if I win, I don’t really like to wait the waiting period of 3 days to get my winnings. Main reason for that is because I play at different casinos and I find it pointless to deposit someplace and want to keep playing , but you can’t because of the 3 day waiting period due to using debit card as your form of deposit

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lcb Cyberluck13 Cyberluck13
LCB User
Posted on December 8th, 2024
I've been using MasterCard for my online casino transactions, and it's been a smooth ride! The process is quick and straightforward, allowing me to deposit funds instantly, which I appreciate during those exciting gaming sessions. Security is a big plus for me, as I feel protected with every transaction. However, I noticed that some casinos don’t allow withdrawals via MasterCard, which can be a bit inconvenient. Overall, it’s a reliable option that I trust!

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lcb Willyness Willyness
LCB User
Posted on December 5th, 2024
Sometimes I have to use this method. I like how quick it is but some downfalls are the charge I get from my bank and some casinos take off some of the bonus if you use this method. For example, bonus says 100% deposit bonus but if you use credit card it's only 50 or 75% deposit bonus. I think that is pretty lame if you ask me. Which no one is lol

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lcb souljo souljo
LCB User
Posted on November 25th, 2024
I've never had any issues using my mastercard to deposit as a South African, I have noticed that I do get charged more fees when I deposit using my mastercard rather than my crypto wallets though i.e. from my bank side.

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lcb Rodfather Rodfather
LCB User
Posted on November 21st, 2024
Love using this option. When coinbsse has ridiculously high fees that I don't feel like paying this has always been my go to option. Once you get the KYC documentation done it's very simple and fast to use. You can even get on certain cards % cash back if your card has the online shopping reward. Just don't try to withdrawal using a credit card. Lol

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lcb russhartranft russhartranft
LCB User
Posted on November 9th, 2024
mastercard is my first choice when playing at casino. its easy to use either by inputting your information online and once approved your already to start playing. quick and easy. but sometimes my card get declined for fraudulent behavior.

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lcb Atomnic111 Atomnic111
LCB User
Posted on November 6th, 2024
MasterCard tends to be accepted at casinos. What one should look out for is double charges, erroneous fees and stolen information. Generally, to get around international spending blocks , the charge will show as a wig company or some such.

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lcb Dudu Dudu
LCB User
Posted on October 22nd, 2024
A good way to deposit. Instant and No fee. But always be careful when putting credit card details online. We can never be too careful, if possible, use Burner cards, with Skrill or Revolut to be as safe and cautious as possible.

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