Is there a difference between Visa and MasterCard?

2016-07-15 00:00:00:

The difference between Visa and Mastercard, according to most users and analysts, is completely insignificant, especially when it comes to Russian users. You can draw an analogy with the well-known Pepsi and Coca-Cola drinks - competing projects, each of which has its own buyer.

Many Russians do not even pay attention to the logos when applying for a card in a financial institution, and rarely ask consultants which product is more suitable. Banks issue to customers those cards, the issue of which is more profitable for a financial institution. The obvious difference between Visa and Mastercard is only for those citizens who travel a lot around the world. Here you need to choose more carefully and thoughtfully.

Different audience reach, different popularity

Each of the payment systems has its own advantages. But absolutely all analysts noticed that Mastercard is following the “beaten path” of its competitor. The Visa payment system is a pioneer in many areas, in numbers it looks like this:

Working with 200 countries of the world.
The annual turnover is over 5 trillion US dollars.
More than 57% of the audience at the turn of the millennium, but after the introduction of the China UnionPay system, coverage dropped to 29%.
However, you dont need to choose Visa or Mastercard for these indicators. Mastercards coverage is only 9% less than Visa. In addition, Mastercard operates in 210 countries around the world.

It is better to be guided by the fact that Visa is the discoverer, this is the case with the opening of the company and this continues to this day. It was Visa that created the first ATM network, they developed prepaid cards, provided the opportunity to make P2P payments, that is, directly from person to person, without the participation of intermediary organizations and transfer fees and much more.

Of course, Mastercard is constantly “catching up” with its competitor, reducing the difference between Visa and Mastercard to a minimum. Today, all Mastercard holders can enjoy the same benefits that Visa provides. It turns out that choosing a card by "manufacturer" is a waste of time. Both payment systems satisfy all the desires of users, providing the widest possible choice of cards (about 25 different Visa cards can be issued) and many additional services.

The difference between Visa and Mastercard: which system is suitable for dollars and which one for euros?

It is generally accepted that the main currency of Visa is dollars, and MasterCard is euros. Of course, on a par with ruble accounts. Indeed, this is the main difference between Visa and Mastercard, but only formal when it comes to using the card within Russia. Payment systems have long become international, and most importantly, multicurrency. Yes, the visa is issued in dollars (or in rubles for internal payments). But at the same time, each user has the opportunity to open an account in euros or in yen. The main thing is that the bank provides this service.

Mastercard works with euros. This is the main account currency, which is very convenient for many countries of the world. But at the same time, for example, the Russian retail chain "Auchan" still does not allow its customers to pay with Mastercard cards, accepting only a Visa.

The difference between Visa and Mastercard is the possibility of receiving discounts and bonuses. For example, it is quite difficult to get any discount on Visa cards, the system is very reluctant to cooperate with retail chains and stores. The opposite can be said about the Mastercard service. Bonuses in the form of a 10% discount are available at Perekrestok, Planet Sushi, cinemas and many shopping and entertainment resources.

Conversion costs

Operations with different currencies can be performed both with Mastercard cards and with Visa plastic. But at the same time, payments with a ruble card in European countries are best done using the first payment system, but in the United States and other countries - taking into account the second. An illustrative example (for which countries is Visa or Mastercard suitable), provided that the user has a ruble card and wants to buy purchases in a store or pay in a restaurant:

Germany (main currency is euro). Visa card - RUB> USD> EUR. The Mastercard card will pay with one conversion of rubles into euros. With Visa, the client will lose a decent amount on double conversion (system commission for conversion, plus the difference in rates).
USA (currency - dollars). The Mastercard will make a double conversion - from dollars to euros and back to dollars. The Visa card will pay in dollars, without conversion in principle.
Stockholm (currency - Swedish kronor). Here the difference between Visa and Mastercard is even more tangible. The first system will allow you to pay with a triple conversion: ruble> dollar> euro> Swedish kronor. The Mastercard will pay with double conversion: ruble> euro> kroons.
By the way, payments for purchases with a Visa card are made using the CVV2 code, the Mastercard uses the CVC2 code. There is no fundamental difference for the user, but it is generally accepted that the Visa payment system is more reliable and secure for users.

When choosing a map, you should focus solely on the countries that you plan to visit. It should be remembered that for Europe the MasterCard will be the optimal card, and for the USA and other countries where the main currency is the dollar, only Visa. It is also worth emphasizing that in many exotic countries, for example, in the Dominican Republic, it is almost impossible to pay with a Mastercard card. Check this point before traveling.

For Russians who do not plan to travel abroad, there is no difference between the cards. And it makes no sense for avid travelers to choose Visa or Mastercard. Just issue two cards in your financial organization with different or single accounts, which will greatly facilitate the beneficial implementation of financial settlements during the trip and will allow you to pay in all countries of the world with maximum benefit. In this case, it is better to issue personalized cards, otherwise the user risks that the payment in one of the countries will not be carried out.