What is the KING Prepaid Mastercard?
The new KING Prepaid Mastercard is a modern and innovative method of payment. The card has a stylish black design and offers cardholders excellent benefits. The card functions on a prepaid basis and is updated in real-time - meaning that cardholders can add money to their card in just a few seconds at gas stations*, kiosks or even over the internet (e.g. Sofortbanking, credit card, UKash, etc.). The money is instantly added to your KING account and can be immediately used to make purchases with your Kingcard. This reloadable** prepaid Mastercard allows you to keep your payments separate from your personal bank account. You will also be able to make payments over the internet or at over 35 million locations where the Mastercard Acceptance Mark is displayed. No credit application or bank information is necessary for approval - making the Kingcard suitable for consumers of all ages. The cardholder must be aged 18 or over.
* The card cannot be used at automated Fuel dispensers.
** Only available for Level 2 or higher.
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The History of Mastercard
The first Mastercard was issued by Franklin Bank in New York in 1951. It was initially used to make cashless payments at various restaurants and businesses. The card enjoyed fast-growing popularity and was quickly accepted outside of New York. Over the next decade, bank branches were founded in all of America's major cities and Mastercard achieved its national breakthrough.
In 1964, a Swedish banker named Wallenberg introduced a new card as an alternative to the American cards. This was the birth of the Eurocard. Initially only available in Sweden, the card quickly spread throughout Europe. Two years later, the first credit card companies were forming in the USA and together founded the Interbank Card Association, which would later be renamed to Mastercard International.
In 1968, Mastercard and Eurocard joined together to launch a strategic alliance with the goal of making their cards usable around the world. This alliance was highly successful and lasted until 2003, when Eurocard merged into Mastercard. The new cards were now uniformly issued under the Mastercard brand name. This consistent look provided the cards with an enhanced and unified global positioning while also highlighting the card's global acceptance. All of these transitions did not affect consumers' and cardholders' ability to use the cards. Meanwhile, Mastercard is accepted at over 35 million locations around the world as a reliable method of payment.
*** Access to certain features such as increased load limits, ATM use and card to card transfers requires the card to be upgraded to ID Level 2 or above.