About Debit Card

Bank is issuing globally accepted Debit Card in association with VISA, which will be the easiest way to access customers account. A debit card will allow the customer to purchase goods at VISA Electron merchant establishments and withdraw Cash from any VISA ATM in India and abroad. It is a 24 hours banking facility.

Debit cards are accepted at many locations, including grocery stores, retail stores, gasoline stations, and restaurants. You can use your card anywhere merchants display your card's brand name or logo. They offer an alternative to carrying a checkbook or cash.

Debit cards are riskier than password protected (PIN-only) old-fashioned ATM cards because debit card can be used with a PIN OR can also be used with only a signature, without a secret PIN or password, just like a credit card, over the phone or in a store.

Legally, your ultimate liability for fraudulent use of a credit card is generally only $50. And, when a credit card is fraudulently used, you are also only disputing whether you owe the bank money.

Unlike a credit card, if your debit card is used fraudulently, the thief robs your checking account. Potentially, all your money is drained out of your checking account. It could take the bank 10 days or more to investigate and refund your money.

Can I use PayPal Virtual Debit Card if I do not have money in my PayPal account?

To show me how easy it was, two executives from MagTek Inc., one of the largest makers of credit card stripe readers, visited MSNBC.com and gave a demonstration.

About Payoneer

Payoneer allows organizations to pay large numbers of people around the world, efficiently and securely directly to their Prepaid MasterCard® cards, avoiding the delays and heavy surcharges of more traditional methods such as bank transfers and international checks. Payoneer is a privately-held company and a registered MSP with MasterCard.

Payoneer also offers a prepaid travel card for young people participating in organized trips. More information can be found at http://www.payoneertravel.com.

Committed to meeting the highest standards in service, security, and privacy, Payoneer has partnered with the First Bank of Delaware and MetaBank. Payoneer utilizes, and continually invests in, top-of-the-line secure technology and adheres to stringent regulations for customer privacy, authentication and identity verification. Payoneer complies with the required KYC (Know Your Customer), BSA (Bank Secrecy Act), AML (Anti-Money Laundering) procedures and OFAC (Office of Foreign Assets Control). Read more about Payoneer's privacy policy.

Founded in 2005, Payoneer employs 55 people, including a team of experienced financial and technology professionals, and is headquartered in New York with R&D offices in Tel-Aviv, Israel. Payoneer is backed by private and venture capital investors including Greylock Partners, Carmel Ventures, and Crossbar Capital.

MasterCard Worldwide

MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, New York, United States. Throughout the world, its principal business is to process payments between the banks of merchants and the banks of purchasers that use its "MasterCard" brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, MasterCard Worldwide was a membership organization owned by the 25,000+ financial institutions that issue its card.

It was originally created in 1966 by United California Bank (later First Interstate Bank and subsequently merged into Wells Fargo Bank), Wells Fargo, Crocker National Bank (also subsequently merged into Wells Fargo), and the Bank of California (subsequently merged into the Union Bank of California) as a competitor to the BankAmericard issued by Bank of America, which is now the VISA credit card and issued by Visa Inc.

Online debit cards

Online debit cards require electronic authorization of every transaction and the debits are reflected in the user’s account immediately. The transaction may be additionally secured with the personal identification number (PIN) authentication system and some online cards require such authentication for every transaction, essentially becoming enhanced automatic teller machine (ATM) cards.

One difficulty in using online debit cards is the necessity of an electronic authorization device at the point of sale (POS) and sometimes also a separate PINpad to enter the PIN, although this is becoming commonplace for all card transactions in many countries. Overall, the online debit card is generally viewed as superior to the offline debit card because of its more secure authentication system and live status, which alleviates problems with processing lag on transactions that may have been forgotten or not authorized by the owner of the card. Banks in some countries, such as Canada and Brazil, only issue online debit cards