Difference Between Visa and Mastercard
When it comes to the world’s leading payment processing networks, Mastercard and Visa top the charts. Even though they work on a common agenda, they have a subtle uniqueness to them. As a result, co-branded credit cards by these companies differ in what they offer and how they function. You should know the difference between Visa and Mastercard so that you make an informed decision.
The business models of Visa and Mastercard do not differ significantly. Both do not issue cards directly to customers; they partner with member banks and NBFCs to distribute a Mastercard or Visa card to users. Both payment networks have plenty of offers.
Here are some of the key differences between a Mastercard and a Visa card:
Particulars |
Visa Card |
Mastercard |
Service Fees |
The user is charged an amount based on the card volume. |
The user is charged an amount based on the percentage of the global dollar volume. |
Transactions |
Cards in circulation and purchase volume are larger |
Cards in circulation and purchase volume are lesser |
Contactless Payment Mode |
Uses Visa payWave |
Uses PayPass |
Should You Choose a Visa or a Mastercard
The user dependency on both Visa and MasterCard is fairly high as they are widely accepted worldwide. However, one of the biggest differences between Mastercard and Visa card can be seen in distinct credit card offers. Card applicants should browse through the available offers to decide whether a Mastercard or a Visa has deals better suited to their needs, and should make a choice accordingly.
Note: As per a July 14, 2021 circular, the Reserve Bank of India (RBI) has restricted Mastercard Asia / Pacific Pte. Ltd. (Mastercard) from onboarding domestic customers onto its card network from July 22, 2021, onwards.
Now that you know about the essential difference between Visa and Mastercard, visit the Bajaj Markets website/app and choose from the finest Visa credit cards and MasterCard credit cards from top brands. The process for checking your offer and applying for a credit card on Bajaj Markets is completely paperless and hassle-free. Apply online to find the best credit card for yourself!
- Apply for Credit Card
- Credit Card Customer Care
- Credit Card Payment
- Credit Card Net Banking
- Credit Card Application Status
- Credit Card Statement
- Credit Card Features & Benefits
- Credit Card Interest Rate
- Genreate Credit Card Pin
- Credit Card Limit
- Credit Card Offers
- Credit Card Eligibility
- Credit Card Documents
- Credit Card Lost
- Credit Card EMI
- Credit Card Loan
- Credit Card CVV
- Credit Card Annual Rate
- Credit Card against FD
- Credit Card Address Change
- Credit Card Reward Points
- Credit Card Pin Generation
- Credit Card Balance Transfer
- Lifetime Free Credit Card
- Credit Card Validity/Expiry
- Credit Card Fraud
- Credit Card Insurance
- GST on Credit Card
- Axis Bank Credit Card
- SBI Credit Card
- ICICI Bank Credit Card
- RBL Bank Credit Card
- Citibank Credit Card
- YES Bank Credit Card
- Axis Credit Card Customer Care
- Axis Credit Card Login
- Axis Credit Card Bill Payment
- Axis Credit Card Status
- ICICI Bank Credit Card Status
- ICICI Credit Card Customer Care
- ICICI Credit Card Login
- ICICI Credit Card Payment
- SBI Credit Card Customer Care
- SBI Credit Card Login
- SBI Credit Card Payment
- SBI Credit Card Status
- RBL Bank Credit Card Status
- RBL Credit Card Customer Care
- RBL Credit Card Login
- RBL Credit Card Payment
- Citi Credit Card Customer Care
- Citi Credit Card Login
- Citi Credit Card Payment
- Citi Credit Card Status
- YES Credit Card Customer Care
- YES Credit Card Netbanking
- YES Credit Card Payment
- YES Credit Card Status
- Kotak Credit Card
- HDFC Credit Card
- Bank Of Baroda Credit Card
- HSBC Credit Card
- IDFC Credit Card
- IndusInd Credit Card
- Standard Chartered Credit Card
- PNB Credit Card
- Canara Credit Card
- SIB Credit Card
- American Express Credit Card
- Union Bank Credit Card
- LIC Credit Card
- Indian Bank Credit Card
- Student Credit Card
- Bihar Student Credit Card (BSCC)
- West Bengal Student Credit Card
- Kisan Credit Card (KCC)
- KYC
- What is IMPS?
- What is NEFT?
- What is RTGS?
- Nach Mandate
- ACH Mandate
- ECS Mandate
- SMS Banking
- Mobile Banking
FAQs about Difference Between Visa Card and Mastercard
-
✔️ How is Visa different from Mastercard?
When it comes to Visa and Mastercard, the difference lies in the payment network the cards use to process the payment. A Visa credit card works only on a Visa network, while a Mastercard works on the Mastercard payment network. Differences are also seen in the offers that Visa and Mastercard put forth, which will be distinct from one another.
-
✔️ Is Visa more accepted than MasterCard?
Both Visa and MasterCard are accepted worldwide. However, Visa has a slightly better reach and benefits when compared to Mastercard.
-
✔️Do Visa and MasterCard issue credit cards?
Yes, both Visa and MasterCard issue credit cards.
-
✔️Is Visa a debit card or a credit card?
Visa partners with banks to offer debit cards, prepaid credit cards, and credit cards.
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