The differences between Visa and MasterCard credit cards are significant, as can be seen from the physical cards themselves, which are easily recognized by their different logos. Credit cards are used as one of the payment tools that are widely used, and the types of credit cards that are quite well-known are those that have the logos of Visa and MasterCard.
Generally, the use of Visa and MasterCard credit cards has similar facilities and ease of use, which can be used anytime and anywhere as long as the merchant or place to conduct transaction activities has accepted payment using the Visa or MasterCard logo.
However, although both are credit cards, it is important to know that they have several differences, not only in terms of logos, but there are also many things that prospective customers need to know.
Differences between Visa and MasterCard Credit Cards
1. Card Logo
There is a significant difference in the use of Visa and MasterCard credit cards, namely in their logos. When using a Visa credit card, there is a logo on the card that has the word “Visa” in white and has a box.
This logo is not only on the front of the Visa credit card but also on the back of the card.
Meanwhile, for the use of MasterCard credit cards, there is a logo shown by the MasterCard inscription in two circles of red and bright yellow.
2. Security and Protection System for Customers
The difference between Visa and MasterCard credit cards can also be seen from the security system to the protection system provided to each customer, which both implement excellent systems that are suitable for each customer.
However, for Visa credit cards, there is a security system in the form of an OTP with its own code that is sent to the user’s mobile phone so that it can be entered in the verified Visa window.
Meanwhile, when using a MasterCard, there is a security system that uses a secure code to provide extra protection to each customer, which is an additional PIN code that must be entered by users when conducting online transactions.
Despite the differences in the security systems of Visa and MasterCard credit cards, there is actually one similarity, namely both must enter the CVV code and the credit card expiration date when making online transactions.
3. User Reach and Popularity
The difference between Visa and MasterCard credit cards is also seen in their user reach and popularity. This is certainly one of the differences that is very noticeable and important for users to know because there are many merchants that are known to only work with one provider.
In general, Visa is more popular among countries in the Asian region, so it’s not surprising that its coverage is more focused on Asian countries only. Meanwhile, using a MasterCard credit card has a different popularity and coverage because it includes a larger scale, covering countries in the Americas and Europe.
4. Provider Company Parentage
The presence of Visa and MasterCard credit cards has a difference in terms of the parent company provider that has issued the flagship product for use by its users, both using Visa or MasterCard credit cards, which can compete to promote their superior products because they are the largest credit card providers in the world and are already spread in various countries.
Visa credit card use is a flagship product of the Visa International Service Association, which has been established since 1955 and is located in Foster City, California, United States.
Meanwhile, MasterCard is one of the products originating from MasterCard WorldWide, a corporation established since 1966, with its location in Purchase, New York.
5. Facilities and Promotions
Other differences between Visa and MasterCard credit cards can also be seen from the facilities provided to each customer who uses one of these credit cards, as well as the promotions offered. In terms of Visa credit cards, the facilities and promotions offered tend to be more numerous.
They include free plane ticket programs, discounts, and special shopping promotions. Visa also supports every customer to conduct business activities with the credit facilities it provides.
MasterCard credit cards also provide various facilities and promotions that are not less interesting because not only are there discounts and various attractive shopping promotions, but MasterCard also provides a lot of convenience offers for various aspects, including luxury hotel reservations and restaurant reservations.
In addition, it has an identity theft resolution service feature as a form of service that can be provided to protect customer identities from credit card usage.
6. Transaction Fee Charges
The last difference in using Visa and MasterCard credit cards is the transaction fees charged to each customer using the credit card to support certain payment activities. As is known, during transactions, there will be additional fees charged, whether using a Visa or MasterCard credit card.
The additional fees charged will differ depending on the provider offered. For example, Visa credit cards, if used for transactions abroad, will be charged a transaction fee of up to 1% of the total transaction amount.
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In addition, transaction fees charged on Visa credit cards will differ from those of MasterCard because MasterCard has established transaction fees that are very varied and adjusted to the merchant, ranging from 0.2 to 1%, which can show the difference between Visa and MasterCard credit cards.