Mastercard is a global financial services organisation with its headquarters in the USA. Its primary business is to process financial transactions carried out with debit and credit cards issued by a wide range of banks and other financial institutions. It acts as a payment settlement and clearing house for digital transactions.
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In simple terms, Mastercard is an organization that facilitates payments carried out with credit and debit cards between the banks of merchants and the issuing banks of the cards.
Mastercard works as a settlement network for the card issuers and charges a small portion of the transacted amount as the payment processing fee. Also, the payments carried out through the Mastercard network are secured with an additional online security level.
Mastercard is one of few payment networks that enjoy worldwide acceptability across multiple payment categories and connects consumers, financial institutions, businesses, merchants, governments in over 200 countries.
You can visit the Mastercard website and then check out the credit cards that it is offering by clicking on the credit cards options. You would also have to select the bank whose credit card you want to use.
You can also apply for a Mastercard credit card on the BankBazaar website. The process it offers is extremely easy and impressively fast. You can also upload the documents that the bank asks for while applying for the card.
Because Mastercard is one of the major online payment processing networks, it has tie-ups with almost all the major card issuing banks and financial organizations. You would easily find a host of Mastercard credit cards offered by different banks for all popular categories like travel, dining, lifestyle, rewards, etc.
Different Mastercard credit cards have different offers spread across diverse categories. For instance, the travel Mastercard credit cards offer attractive travel benefits in the form of special discounts and cashback on hotels and travel ticket bookings.
Similarly, dining credit cards have tempting offers at participating restaurants and online food ordering apps. Shopping cards offer multiple shopping benefits. Check out the entire list of credit card offers that you can enjoy with Mastercard.
Like Mastercard, the American company Visa is another big name among the organizations that provide technology to process transactions. In fact, Visa is a competitor of Mastercard and enjoys an impressive share of the online transactions market.
Although the difference between the two isn't vast, there are certain distinct areas, particularly in terms of offers, in which they differ from each other. Some of the offer categories where they differ from each other are hotels, travel ticket bookings, etc.
Another important fact is that certain Visa credit cards offer a better 'Loss of Use' for car rentals. On the other hand, Mastercard cards provide better cost protection service. This implies that if you purchase an article a Mastercard card and the retailer cuts down its price within 60 days of your purchase, the difference would be refunded by Mastercard.
Rupay is India's answer to the global digital payment processing companies like Visa and Mastercard. Essentially, it performs the same role of payment facilitator between the customer's bank and the merchant's bank.
However, the primary difference is that the payment data involved in the transactions are retained within the country in domestic servers.
Also, Rupay charges comparatively less per transaction than the charges of Visa and Mastercard. Also, being an Indian product, there are several tempting offers on Rupay on categories like fuel, hotel bookings, train ticket bookings, etc.
The primary differences between a Mastercard Credit Card and a Mastercard Debit Card are listed below.
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