There are a number of companies offering electronic funds disbursement systems using a magnetic stripe card. On the surface, these services may appear to be equivalent to the BelconCard™ but there are some significant differences, which can only be uncovered from knowledge of the EFT systems and the customer agreements offered from these companies. 

Belcon Int’l Group Master Card versus ATM Debit

Most of the competing services use a proprietary, non-branded debit card or a MasterCard logo called Maestro™. These cards do not have the same utility and cardholder costs as Belcon Card™:

• Competitive Cards have Limited Use - ATM Debit cards can only be used at ATM machines or at merchants equipped to handle ATM cards with PIN code. Immediately this limits the utility of the card since only a small fraction of merchants accept ATM debit. The BelconCard™ is a POS debit card accepted at both ATM machines and any merchant accepting Master or MasterCard.

• ATM Cards are More Costly - ATM Debit transactions are more costly to the cardholder. Any ATM transaction incurs both a local ATM machine fee and an ATM network fee collected from the cardholder. BelconCard™ cardholders pay the same ATM fees at ATM machines but no fee when used at merchant terminals or online for purchases.

• BelconCard can be used Online or over the Telephone - ATM Debit cards cannot easily be used on the Internet nor can they be used for telephone or any other non-card swipe transactions. The BelconCard™ can be used anywhere a Master card can be used – merchants, telephone orders or Internet orders. The card-to-card transfer feature is unique.