Payment systems have long embraced the whole world, habitually functioning through credit, salary and debit cards. The most stable and popular systems are Visa and Mastercard. They offer different types of bank cards, which differ in the level of commission, prestige and a range of services. The cheapest service cards are salary cards, because their main purpose is to withdraw cash. The middle segment is the Mastercard Standard and Visa Classic cards, which allow you to pay for purchases in stores and on the Internet. For people with high incomes there is a Gold and Platinum, emphasizing the status of the owner and giving him many additional privileges. In this article, we will tell you about payment systems and find out how "Visa" differs from "Mastercard".
Bank cards
A card is a plastic medium that is tied to a specific bank account. That is, having it in hand, a person can pay for their own purchases. In this case, money will be withdrawn from the account, and the balance will be updated immediately. What is the difference between Visa and Mastercard, we will describe below, but for now we will introduce you to the categories of cards that Russians most often possess.
First category
It occupies the largest sector in the bank card circulation market. These are Mastercard Electronic, Visa Electron and Maestro. The main reason for their popularity is the low cost of maintenance, which ranges from 5 to 10 dollars a year. With these cards you can pay for purchases through store terminals. Well and, of course, they allow you to cash out funds.
The disadvantage of these cards is the inability to use them for online purchases. In addition, it may be difficult to pay when you are abroad. Many foreign supermarkets simply do not accept them. This is due to the lack of special embossing to identify the card holder. If the store has regular terminals, then there will be no problems with payment, but if there is a system configured to use imprinters, then payment will not be possible for technical reasons. We hope you now understand a little how the “Visa” differs from the “Mastercard” and “Maestro”. We will discuss this in more detail below, but for now, consider another category.
Second category
Mastercard Standard, Visa Business and Visa Classic belong to the second category of the most common bank cards in Russia. In their production, embossing technology is applied (applying special embossing on plastic). This helps to make cards universal and multifunctional. They can also be paid on the Internet. For these purposes, special codes were applied to the plastic. The only thing that does not suit some holders of these cards is the high cost of maintenance (from 15 to 25 dollars a year).
What is the difference between “Visa” and “Mastercard”?
This question baffles many holders of plastic cards. Some cannot even explain how the “Visa” differs from the “Mastercard” of Sberbank. Well, it happens that professionals themselves cannot competently advise on this topic. Let’s find out how the “Visa” differs from the “Mastercard”.
Firstly, these bank cards have different base currencies. If you do not intend to travel to Europe and America, this fact will not cause any inconvenience. It must be taken into account by those who plan a trip abroad or buy goods in foreign online stores. For Mastercard, the base currency is the euro, and for the Visa, the dollar. What is this talking about? The fact that if there are rubles on the card, and you need to pay in dollars, it is more profitable to use the "Visa".If the payment is in euros, then first there will be a conversion of rubles into dollars, and then dollars into euros. A similar procedure is typical for "Mastercard". It is clear that it is disadvantageous. For example, people who know how “Visa” differs from “MasterCard” (“Alfabank”) are well aware that they suffer losses. And this happens not because of unfavorable exchange rates, but because of high commission payments during conversion.
The second difference is the possibility of card payments on the Internet. This option is connected to the “Visa” at the discretion of the bank. And at “Mastercard” this service can be used only by Unembossed cardholders.
And the last difference is with premium cards. In this regard, Mastercard and Visa offer different sets of services. The first payment system has a loyalty program for partners and emergency assistance in case of loss of a card. The second payment system has a wider range of services: medical assistance by phone, legal advice, booking tickets and booking a table in a restaurant.
Card payment
So, we found out how the "Visa" differs from the "Mastercard". It remains to consider the moment with payment schemes. After all, it depends on the level of the card where you can pay by bank transfer, and where not. MASTERCARD CIRRUS and Visa PLUS only allow you to withdraw cash. With MASTERCARD MAESTRO and Visa ELECTRON you can already pay in stores. If you need cards with full functionality, then choose MASTERCARD (MASS, GOLD, PLATINUM) or Visa (CLASSIC, GOLD, PLATINUM). All operations with such cards are quick and effortless.
Conclusion
Payment systems, which are based on the functioning of plastic cards, have become an integral element of global financial activity. Increasingly, services and goods are paid by bank transfer. This is especially convenient when dealing with significant amounts. “Visa” and “Mastercard” are the largest representatives of these systems. Now they are the main market participants, and their products differ only in the status of bank cards. Knowing how Visa differs from Mastercard, you can choose the optimal card for yourself and not overpay for unnecessary functions.
