What is the MasterCard payment system?

A MasterCard payment system licenses payment brands to Acquirers and Issuers. Acquirers, in this case, are the various entities that do the processing of the transactions. The Issuers are banks or other financial entities that provide the consumer with debit cards. There are major three parties involved in the transaction process, the cardholder, the bank and the merchant. The system then takes a six-step procedure to complete the transaction. The cardholder’s bank sends the settlement request to the MasterCard, then forwarded to the merchant’s bank.

Bookmaker Bonuses in the UK for MasterCard Users

Some of the best Bookmakers do accept MasterCard and even give bonuses to players who choose a given debit card. A good instance is with the Bet365, a leading bookmaker’s site, where a player earns 10% bonus of up to £100 in their bet credits upon using MasterCard on the first deposit. Others include Betvictor which requires a player to bet £10 and receive £60 bonus, William Hill where on betting £10 the player gets £30 bonus. Others include Betfred with a bonus of £30 plus 30 spins on placing a £10 bet and Coral where the new player gets a £20 betting bonus from a £5 stake. The main objective of these bonuses by the bookmakers accepting MasterCard is to attract and allure more new players.

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How to Register and Verify as a MasterCard User

The process starts with the cardholder taking him or herself to a bank or any other financial institution which is MasterCard accredited. The Issuer collects the identification details of the respective person and opens an account for them. They then feed the holders into the MasterCard database and to an electronic chipset in the card given to the customer. The card is uniquely identified using a 16-digit card number on the front side, and a 3-digit card verification code (CVC) found at the back side of the card. The bank then requires some deposit into their customer’s account which they have linked with the card for activation purposes. The user then receives a secret PIN which can be changed time and again for security purposes. The issuing bank is in charge of the entire registration and activation process. More so, a MasterCard depositing can either be through a direct deposit to the linked bank account or via some online transactions.

How to Deposit and Withdraw Money Using MasterCard

Upon finding that a bookmaker of one’s choice is accepting the MasterCard, a player simply is required to sign in and check on the “Deposit” options, and then follow the set of instructions. Pick the “Mastercard” option upon request of the payment method of one’s choice. The bookmakers accepting MasterCard system requires the input of the 16-digit card number and the 3-digit card verification code appropriately. The authentication process follows, transaction submitted and an authorisation request generated within the MasterCard system. Finally, the authorisation response comes, and if successful, the merchant payment executed and the betting account instantly credited.

On bookmaker withdrawals, the procedure is equally simple as with deposit. However, some bookmakers accept MasterCard deposit but will not allow withdrawals so checking the bookie is paramount. Click on the “Withdraw” option, follow the guidelines and choose “MasterCard” as the withdrawal method. Withdrawal verification and processing takes some days for the funds to reflect on the MasterCard account.

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Written by:   Nathaniel Bush

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