Maestro Global Rules (PDF) - MasterCard

iii. processes transactions for such system;
iv. does not issue debit, credit or charge cards;
Participation
1.2 Eligibility to be a Customer
v. does not own credit or charge card accounts receivable; and
vi. does not own or control ATMs
provided that such entities obtain from a financial depository
institution acceptable to the Corporation a stand-by letter of credit
issued in favor of the Corporation in an amount determined by
the Corporation from time to time to be sufficient to ensure the
discharge of all such entities’ obligations to the Corporation
d. Any corporation, Corporation, association or other entity, which does
not itself issue debit cards, or own credit or charge card accounts
receivable, and which is directly or indirectly Controlled by one or more
Canadian financial institutions, and which is engaged in or proposes
to engage, as a substantial portion of its business, in a credit card
processing or servicing operation.
In addition to the requirements above, to be a Principal in Canada, an
entity must be:
i. a Principal of MasterCard in the Canada Region; or
ii. an entity that is eligible to maintain a settlement account with the
Bank of Canada (or is a participant of a group that is eligible to
maintain such an account); or
iii. in the case of an EFT Interchange System owned by Financial
Institutions (as described in paragraph c.ii above) or a credit card
Processor (as described in paragraph c.iv above), an entity that is
Controlled by a least one (1) Financial Institution that is eligible to
maintain a settlement account with the Bank of Canada (or is a
participant of a group that is eligible to maintain such an account)
3. Europe Region. In the Europe Region, as defined in the Rules, the following
are eligible to become Customers:
a. any entity that is a financial institution that is authorized to engage in
financial transactions under the laws and/or government regulations of
the country, or any subdivision thereof, in which it is (i) organized
or (ii) principally engaged in business. “Financial transactions” for
purposes of this section shall mean the making of commercial or
consumer loans, the extension of credit, the effecting of transactions
with payment services cards, the issuance of travelers cheques, or the
taking of consumer or commercial deposits.
Any such financial institution also must be regulated and supervised
by one or more governmental authorities and/or agencies authorized
and empowered to establish and/or enforce rules regarding financial
transactions and the financial condition, activities, and practices of
entities engaging in such financial transactions.
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Maestro Global Rules • 9 November 2012 1-3