Debit cards have offered a convenience to carrying your money around with you. This is due to that your debit card is linked to your bank account giving you access to your funds immediately.
And there are various types of debit card these may include:
◾ Contactless Debit Cards
With these customers can make payments with just a tap or wave of their contactless debit cards near PoS terminals, with the cards working on Near Field Technology (NFC) thereby making electronic payments safer.
◾ Debit Mastercard
It uses the same systems as the standard Mastercard credit card but doesn’t use a line of credit to the customer, instead relying on funds that the customer has in their bank account. It includes cards of a MasterCard Cirrus Card or a MasterCard Maestro Card and gives customer’s access to their funds worldwide. And they can perform online transactions using their bank accounts on the MasterCard SecureCode platform.
◾ Visa Debit Cards
These are issued with the bank’s tie-up with VISA payment services providing the Verified by Visa (VbV) platform for online transactions. Debits cards include Visa Gold, Platinum, Signature, Infinite and Classic. Whether it’s for travelling, shopping or dining the cards are accepted at tens of millions of locations around the world.
◾ Visa Electron Debit Cards
These are very similar to Visa debit cards but these cards don’t provide the overdraft feature.
◾ Maestro Debit Card from MasterCard
It’s a premier, international debit card service that has been popularly adopted at over 13 million locations spread across countries around the world. Maestro, as easily identified by the signature logo on all partner cards, helps the customer gain immediate access to their money through a robust, international network of compatible ATMs, POS outlets, and online resources.