The Maestro soon to be ousted from the debit card market

As an indirect consequence of Covid-19, online shopping is exploding and, in stores, contactless payments are becoming popular. These new consumption and payment habits are profoundly changing the debit card market.

The internet generation

Exit the Maestro of MasterCard? After Credit Suisse and Valiant, the Cantonal Bank of St. Gallen (SGKB) announced Monday that its customers will replace the Maestro card with the Debit card from the same American group. UBS is also taking the step. It has introduced a Global Card for people who travel a lot and will offer the functions of its new debit card this fall.

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