Maestro International, a joint venture of MasterCard International and Europay International, today announced the election of Dr. Paul Ribourdouille as Chairman of the Maestro International Board of Directors.
Maestro International delivers to banks around the world an acceptance mark that offers to customers of those banks, global access to their deposits at ATMs and at the point of sale. All such transactions can take place under full control of the card issuing bank.
Dr. Ribourdouille was until recently a member of the Managing Board of ABN/AMRO Bank. During most of his career he had primary responsibility for Information Technology and Payment Systems.
Dr. Ribourdouille brings 22 years of banking experience to Maestro International. He established a prominent reputation as a pioneer in the introduction of chip technology and electronic cash in the payments industry in the Netherlands, where he chaired all major banking ventures in the field of payment systems. Prior to launching his successful career in financial services, Ribourdouille held senior management posts at a large European clothing retailer and at Phillips Electronics.
Dr. Ribourdouille is a five year veteran of the Board of Directors of MasterCard International. He also has been a member of the Europay International Board of Directors since 1992.
Maestro is the leading global, on-line debit brand, with more financial institutions, merchants, cards and acceptance locations in more countries than any other debit program in the world. “We will benefit from the vision, experience, and commitment that Dr. Ribourdouille brings to this key position at this critical time in the evolution of Maestro International. The active involvement of the new Chairman of the Board should lead to positive bottom-line results for Maestro International and its members globally,” says Francis van den Bosch, CEO, Maestro International.
Developed jointly by MasterCard International and Europay International, Maestro was introduced to offer cardholders an electronic payment alternative that provides access to cash and checks. The Maestro acceptance mark now has been expanded to the ATM to provide consumers with a single global point-of-sale and ATM brand. This means that the more than 375,000 ATM’s currently accepting MasterCard and Cirrus cards will now be able to accept Maestro cards. Maestro already has over 150 million debit cards worldwide and is accepted for purchases at over 2.5 million merchant terminals in over 60 countries and territories on 6 continents.
MasterCard International has the most comprehensive portfolio of payment brands in the world. With 23,000 member financial institutions, serving consumers in 220 countries and territories, MasterCard is the industry leader in quality and innovation. More than 600 million MasterCard, Maestro, Cirrus and Mondex cards are accepted at more than 15 million locations worldwide. In 1997, gross dollar volume exceeded $600 billion. MasterCard can be reached through its World Wide Web site at [http://www.mastercard.com.]