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Participants may apply for the MasterCard Debit License Program either as a principal or affiliate. Principal licenses are available to entities that are ineligible to become MasterCard members. Debit Licensees are not full members of MasterCard. Such licensees have been granted a limited license to issue debit cards. MasterCard Debit Licensees are not entitled to the same rights as members, although such licensees have the same obligations as members. As a principal, the Debit Licensee can sponsor affiliates for the purpose of issuing only MasterCard debit cards. All affiliates are required to be deposit-taking financial institutions.
The following documents must be completed by prospective principal licensees, signed as necessary, and forwarded to the Franchise Development Department:
- Application to Participate in Debit License Program (Form 707)
- Billing Services Notification (Form 038)
- Summary Reports Request (Form 234)
- Two signed original Debit License Agreements
The following documents must be completed by prospective affiliate licensees, signed as necessary, and forwarded to the Franchise Development Department:
- Application to Participate in Debit License Program (Form 707)
- Two signed original Debit License Agreements
- Annual Report or audited financial statements issued within the past 18 months. If the company is new, a balance sheet must be submitted.
For DeNova banks, the following information must be submitted in addition to the documentation required above:
- A letter from the appropriate state or federal agency outlining the concerns for preliminary approval
- Letter stating opening capital from local chartering authority
- A letter signed by two senior officers of the applying entity stating that the conditions outlined in the preliminary letter from the regulatory agency have been met and stating official opening date and proposed capital and assets as of that date
- Copy of regulatory charter (can be supplied at a later date)
The turnaround time for the approval of a new licensee application is generally 14 business days based on the receipt of compliant documentation.
Please submit forms to your local regional contact for handling. US applications can be submited directly to the address indicated below:
MasterCard Worldwide
2000 Purchase Street
Purchase, NY 10577
Attn: Franchise Development
The fee for this service can be located by referring to the fees link.
A separate application process and guidelines exist for MasterCard, Maestro and Cirrus. Please refer to the New Membership link.
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