What is Mastercard?

Mastercard is a card network. An issuing bank puts a card on it, merchants accept it, and a debit card pays straight from the balance in the account. When a reader compares accounts, the network decides where the card works and how a payment moves. Booster Savvy, for example, lets customers spend by Mastercard debit card, EFTPOS and ATM, and send transfers to New Zealand bank accounts with no notice period. GBTI issues a Mastercard Debit Card when the account opens.