Maestro Latin American Inc., a subsidiary of MasterCard International, said it has launched the Maestro on-line program in Brazil.

More than 4,200 merchants - including supermarkets Pao de Acucar and Paes Mendoncas, Blockbuster Video stores, and Casa Sendas, a chain of department stores - have agreed to accept Maestro-branded cards for payment.

The funds covering the transactions are debited electronically from the cardholder's deposit account.

Credicard S.A., the largest processor of payment cards in Brazil, has an exclusive arrangement with MasterCard to sign up merchants to accept Maestro.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.