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Sujai Adithya
Business Development and Banking & Financial Services Expert
Asked a question last year

Visa Card vs Mastercard - What is the difference?

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Sujai Adithya
Business Development and Banking & Financial Services Expert

Visa Card

  • Visa card is a payment network company which transfers the fund electronically all over the Globe.
  • It is the first multinational financial service provider company in California, the USA in 1958.
  • It also provides many financial services like a credit card, debit card and prepaid card to clients.
  • It collaborates with the financial institutions like banks to cater the services under their company name.
  • The interest charges, transaction fees are decided by the bank or financial institutions, not by the network company.
  • The payment technology network charges some percentage to the issuing company. And this is the source of income for them.

Master Card

  • The master card company is located in New York, USA since 1966.
  • This company is earlier known as Inter-bank or Master charge.
  • It is a multinational payment technology network company which provides financial services to the customers.
  • It is processing payment company.
  • It also provides the services like a debit card, prepaid card, charge card, under their company name.
  • The company doesn't directly interact with the customers, it collaborates with the banks and financial institutions to serve the benefits.