What is the difference between Visa and MasterCard? - ProProfs Discuss
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What is the difference between Visa and MasterCard?

Asked by R. Barnes, Last updated: Oct 17, 2019

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3 Answers

Mike John

Self Motivator, Energetic & Smart Team Lead

Mike JohnContent Explorer, MCA, Los Angeles, California, USA
Content Explorer, MCA, Los Angeles, California, USA

Answered on Oct 17, 2019

Visa and MasterCard are two credit-card companies out of many that exist. Visa was created in 1970, and it has risen up as one of the top credit-card companies with prompt electronic payment services. Visa ensures that payments and transactions are made easily between businesses and customers, individuals, private and public organizations, etc. MasterCard, on the other hand, is also a credit-card company. With MasterCard, the processing of payments between you and your bank is guaranteed.

It is important to note that visa and MasterCard don’t issue cards to credit-card users, what they do is to set up the payment system to ease the processing of payments between you and your bank. Visa and MasterCard do not determine the interest rate on your credit-cards. Visa headquarter is situated in California, while MasterCard has its headquarter situated in New York. In short, there is no big difference between visa and MasterCard.

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L. Gibson

L. GibsonScience Professor
Science Professor

Answered on Sep 17, 2019

VISA and master cards are types of cards that make money available to customers to carry out transactions. Both types of cards offer similar services to their users. They offer global services to their users. The major difference between Visa and Master card is the annual rate and interest rate. Master card was founded in 1966 and the headquarters is located in New York while Visa was founded in the year 1970 with its headquarters in San Francisco.

The visa card offers 3 levels of benefits. The traditional, significant and infinite levels are the three levels of visa benefit. The MasterCard also has 3 levels of benefits. These include the standard, world, and world elite levels. Hope you find this information helpful.

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C. Jackson

C. JacksonContent Developer, Austin
Content Developer, Austin

Answered on Sep 11, 2019

Visa and Mastercard are the two most widely accepted credit cards. Visa offers three levels of membership, which includes base, signature, and infinite. Mastercard, on the other hand, offers base, world, and elite as their three levels of membership. Visa tends to have an enhanced "loss of use" coverage on car leasing insurance than Mastercard. However, visa prohibits car rental insurance in certain countries. Mastercard provides better cost protection service.

Also, certain merchant's do not accept visa but accept MasterCard and vice versa. Mastercard was founded in 1966, and its headquarters is in New York. Visa was founded in 1970, and their headquarters in San Francisco. Both of them are owned cooperatively by several participating financial institutions.

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