Difference between Visa and Mastercard
Bank transactions are always handled by financial corporations. Two of the most popular worldwide are Visa and Mastercard. Both act as middleman between customer and retailer. They act as a payment network and regulate or process every payment made via debit or credit card. It is important to remember these companies ARE NOT BANKS, nor do they offer any other banking service other than facilitating money transactions. They do not issue any plastic by themselves, but they do support banks in the emission of cards. Both Visa and MasterCard have a strong presence in over 200 countries.
Visa is an American multinational that focuses in financial services. Its headquarters are located in Foster City, CA. Visa supports credit, debit and pre-paid cards. These cards are widely used and are accepted in more than 210 countries in the world. Cards supported by Visa always start with number 4.
MasterCard incorporation is also an American multinational that offers financial services. Its headquarters are located in New York. It is also accepted worldwide in more than 200 countries. MasterCard cards always starts with number 5.
|Nip requirements||Nip is required before any transaction is due.||Nip is also required to approve any purchase.|
|Acceptance||An estimated of 38 million establishments worldwide accept Visa cards.||MasterCard is accepted in around 24 million establishments around the world.|
|ATMs||Visa has over 2 million ATMs around the globe.||MasterCard has only over 1 million ATMs in the world.|