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Conquering the online market
The growth in online transactions is absolutely fantastic. Over the years, still more consumers find their favorite website or market place and buy there books, applications, software, dvds, movie and what else online. In some cases they use a traditional payment method, like a bank transfer, but in mostly they make use of completely online oriented payment method. Paypal, Moneybookers and other eWallets offer a service that let's people easily transfer money from their bank account to a digital wallet and afterward to the merchant that offers their service. Maestro has to catch up online in order to get a grip on this market as well.

The challenge is in this twofold. First, they want to utilize the potential of Maestro fully. Maestro Debit Cards hold a spot in the normal wallet of a great deal of consumers. This leaves room for a vast amount of consumers that use this card as well for online transactions. In order to mobilize this potential, good and flexible agreements with national banks have to be made, next to arrangements with suppliers of encrypted and protected software and database protection. Furthermore, and there's the second part of the challenge: Maestro should not utilize its potential at the cost of MasterCard, which already has a leading position in online payments. Difficult tasks ahead for Maestro and its the question whether they should strategically choose to further invest in MasterCard's position or in the position of Maestro. This depends on the strategy preferred by the different companies.

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Staying ahead in the normal market

It leads little doubt that in order to conquer the online market, Maestro needs to keep it competitive edge in the normal market. With the emergence of the Single European Payment area a great step has been made, at least for the European Market. 23 countries have adopted this directive which should lead to a situation of less cash money in the European Union, a important policy goal of the European Union. The policy goal has been translated into a regulatory framework that slowly pushes members of the EU that adopted this regulation to make as many payment networks accessible as possible.

In for example Belgium, this has already led to the phasing out of existing structures and the acceptance and use of more widely (read: European) accepted network, like MasterCard. The banks in this country have decided to exchange/swap their old and not so much used anymore network for a more modern network. Maestro benefits from these developments. There is however a risk; the market in Europe is large, but the growth is reaching its limits. Due to a steady, but small increase in digital transactions and an switch to 'digital' money, the market still grows, but not at rates Maestro and MasterCard would want. That's why they should now focus more on regions like Asia and Africa.

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Conquering emerging markets in Asia and Africa
China and India grow at rates where traditional Europe and the United States could only dream of. If there is one place where a 'catch up' with the rest of the world is currently taking place, then Asia would be it. Countries like South-Korea, China and India have witnessed growing and even booming economies in the recent years, while they also have enormous potential of workers and economic market power. To go short; if every Indian or Chinese citizen has a Maestro Debit Card, the company never ever has to worry about income and potential anymore. While MasterCard is widely accepted at tourist places and Maestro is up- and coming, they need to make sure that local inhabitants get access to this payment method as well.

This is, in most of the case, just a matter of time. But it is very important for Maestro to fully equip the banks in this region with the payment method they have on offer. Next, they should be aware of the market circumstances, in order to fully utilize their worldwide market leadership. These three challenges make Maestro and MasterCard vulnerable, but it also keeps them very much at focus. They need to fully understand why and how normal and online merchants see benefit in their payment method and way banks want the Maestro logo on the debit card. Furthermore, they have to keep up with the competition, especially when it comes to online payments and everything that goes with it. Challenging times, but Maestro will eventually always rise up to the occasion.
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