What are the differences between Visa and MasterCard?
When you look at the bottom right corner of the bank and credit cards, which are part of our daily lives, the Visa or MasterCard logo is available. Mostly, you’re not interested in what these logos are. Usually, we don’t have enough information about Visa and MasterCard companies that we use to enter our card information in internet shopping, right? These two logos you have seen on your cards belong to the two giant financial companies.
Objectives; to move cash flow to systems such as debit cards or credit cards. When transferring to these systems, they allow banks to use a certain commission. So when you use these cards to borrow from the bank, banks must make certain payments to these companies for each card they use. Almost all banks in the world prefer the Visa or MasterCard infrastructure for operational operations. In this way, you can use your credit card which can adapt to all pos devices in many parts of the world.
While the world giant is not one of the main differences between the two financial companies, operational details are interesting for those interested. It is quite difficult to answer the question of which one is used more. Because the prevalence of use varies from country to country, even from bank to bank. In Turkey, the system works the same way. The banks determine which of the two finance giants to use, with advantageous processes and profitable agreements.
In this way, Visa and MasterCard also make money on the turnover of the banks that choose their own payment system. Since your card is Visa or MasterCard, it doesn’t affect your expenses; With a low interest rate, you have special deals to take your credit card. However, if you are using more than one credit card, selecting one and Visa and one selecting MasterCard will allow you to benefit from different campaigns.
We see every day; but let’s look at the differences between Visa and MasterCard and what we don’t know what it does:
What is Visa ?
The headquarters of Visa, which provides payment in 36 countries, is located in the UK. This giant finance company, with more than 4000 European banks, provides the infrastructure system of prepaid cards. It is one of the most important and biggest systems that enables the transfer of payments by assuming the bridge between the bank and the customer. In addition to using your Visa cards as a credit card, you can also use it as a debit card or a prepaid card.
Thus, you can use your debit card as a credit card for your purchases if you have money in your account. In addition, the Visa organization; It offers exclusive discounts, unexpected surprises and travel offers in stylish restaurants with its product called Visa Platinum.
What is MasterCard?
Founded in the United States, MasterCard provides credit card payment to its customers. By establishing a chip payment system, it provided convenience to banks and consumers. MasterCard is one of the largest corporations that make up the infrastructure of debit and credit cards and payment systems of banks and consumers.
MasterCard organization; Platinum MasterCard and World Elite MasterCard products offer special discounts and benefits in your travels. MasterCard, the main sponsor of the Champions League, has made a name for itself in this way.
What is the difference between Visa and MasterCard?
Approximately 70% of the existing bank and credit card infrastructure systems market has no ATMs or workplaces with Visa and MasterCard. Even if there is competition among them, it is impossible for you to see that one does not go where the other passes.
If your goal is to use ATMs or make payments, you should know that there is no difference between Visa and MasterCard. If we argue which one is superior, we’ll see MasterCard just a click ahead. The reason for this is that MasterCard has more sponsorship agreements than Visa. a payment system to rival candidates against the two world giants have also been developed in Turkey. ‘Troy’, this system is called, only promises to make her mark at the global level through the use of although after that will be used in Turkey. Learn more about Troy here.
Although the locations are different, there is little difference between them. Thanks to their agreements, you can use them easily in all countries of the world. The 16-digit card numbers start with 5 on the MasterCard, starting with Visa cards 4. Another difference is that it is different in terms of ease of use. Visa offers prepaid cards, while it is easy to shop without having to install money on your MasterCard.
As I mentioned before, you will be in contact with the bank, and your bank will be connected to that company if it uses the payment system. In addition, it is difficult to say that no one is interesting because the two financial institutions have organized different but very useful campaigns. Click here to see the world’s most exclusive credit cards, where Visa and Mastercard payment systems are preferred.