There's a key fact to note first. Mastercard stopped issuing new Maestro cards in Europe as of July 2023, and existing cards are being replaced with Debit Mastercard upon expiry. Even in Cyprus, which relies heavily on international card networks, Maestro's share continues to shrink, so this method should be approached not as the centerpiece of a new payment strategy but purely as a complementary method to prevent payment failures for existing cardholders.

Some tourists from German-speaking countries and the Benelux region, where Maestro issuance was historically common, may still be using valid Maestro cards, so hotels and tour businesses with a high share of such visitors may want to consider this residual demand. That said, priority for adoption should go to Debit Mastercard, Visa, and wallet methods such as Apple Pay and Google Pay.

Existing Maestro card payments are processed as debit authorizations, and since these are EEA-issued cards, PSD2's SCA (strong customer authentication) requirement applies. The authorized euro (EUR) funds are collected by Hecto Financial, converted, and settled in the contracted currency of USD, KRW, or JPY. Given the trend toward discontinued issuance, it is worth confirming during integration whether Debit Mastercard is also processed through the same flow.

Whether remaining Maestro transactions can be accepted depends on Hecto Financial's integration terms, and review proceeds on the basis of a contract with a Korean business. Given the trend toward discontinued issuance, it is practically prudent to also confirm support for alternative paths such as Debit Mastercard.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channels

  The integration approach and priorities vary depending on your mix of online sales channels, such as your own site, open marketplaces, and mobile apps

• Product categories

  Check in advance whether your products fall under restricted categories per the Maestro operator's merchant policy

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Like other card methods, Maestro transactions have their euro (EUR) funds collected and converted by Hecto Financial, then settled in the contracted currency of USD, KRW, or JPY. One point to note: by the time of a refund, a customer's card may have already been replaced with Debit Mastercard, so confirm how the original refund path is handled during integration. Also put a process in place for EU consumers' 14-day right of withdrawal.

• Central Bank of CyprusOfficial information on Cyprus's payment systems and related regulations. If actual regulations differ from this page's content, the official source takes precedence.