What is the difference between Visa and MasterCard and what is better to choose?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

When applying for a new card at the bank, you will probably be asked to choose a payment system. And this question confuses many ordinary people, do not everyone know how a Visa differs from a Mastercard? Let's try to figure out what is what and which system should be chosen.

General information

To date, both payment systems have been successfully distributed around the world. MasterCard is a European payment system, while Visa is an American one. If someone tells you that the main difference between a Visa card and a Mastercard is reliability, do not believe it. Both systems work without major failures, all operations are performed at the same speed around the world. But keep in mind that not all cards issued by Russian banks work outside of our country. Checking this is very simple, look at your plastic rectangle. If the inscriptions on it are embossed, your card will work abroad, but the symbols applied with paint or pressed in indicate the possibility of using a payment instrument exclusively on the territory of the Russian Federation. Is notit's always bad if you rarely travel and most often use the card in Russia, one of the lower types that works only in your homeland will do. Cheap service will be a tangible plus.

What is the difference between a Visa and a Mastercard when making payments abroad?

It is more convenient to travel to European countries with MasterCard. When withdrawing cash or paying for services, monetary units will be automatically converted into euros, at the rate of your bank and payment system with a minimum commission. Let's imagine that you and Mastercard decide to visit the USA. American dollars are in use everywhere, and we have a ruble account. Since the payment system is European, monetary units will first be converted into euros and only then into dollars. The operation will not take much time, but imagine the size of the commission. For Visa, the situation looks similar, it is more profitable to pay with cards of this system in the USA than in Europe. What is the difference between a Visa and a Mastercard besides this? When converting OIF, Visa removes a commission, only 1.5%, but Mastercard does not have such a commission at all.

Other card differences and special perks

You will notice the difference between a Visa and a MasterCard for cashless payments with the simplest cards. For example, Visa Electron does not require you to enter a secret code to write off insignificant amounts from your account, while all MasterCard cards carry out the operation only after entering the pin code. Plus or minus it is up to you, but remember that a secret password is the protection of your financial resources. On the other hand, if you happen to forgetpin code, you will have to change the card. For holders of higher category cards, the Visa offers special benefits, such as free medical or legal assistance. Mastercard cannot boast of such services. But keep in mind that not all banks offer these privileges in Russia, the cost of servicing the card itself is quite high.

Now you know the difference between Visa and Mastercard, choose according to your needs and taste. And remember that if you choose a card of an average or lower type for use on the territory of our country, you most likely will not notice the difference between the two payment systems.