What is a MasterCard?

What is a Master Card?

brands are based on cooperation with financial institutions and banks that issue these cards as well as with the merchants that accept to operate with these cards, there are more than 28 million sites that accept to operate and pay through MasterCard cards, and it should be noted that the MasterCard network does not issue cards and does not charge any annual fee to cardholders. .   Merchants are not required to accept your cards, but on the other hand, they do establish special policies regarding payment and recharging.

 The MasterCard network is the second largest global payment network after Visa. It uses its own global payment network to facilitate payment transactions. The network includes various entities, including: MasterCard account holders, merchants, and financial institutions that issue these cards. Payment cards can be credit, prepaid or debit cards.

MasterCard types

There are several types of MasterCard cards, and each one has many advantages, which are the following:

• Standard MasterCard: The Standard MasterCard has many advantages, the most important are; Get emergency help anytime, in any language, anywhere, including for lost or stolen reports or other inquiries, and you can also sign up for an anti-theft service that monitors your account for changes that indicate fraud. 

• World MasterCard: The World MasterCard includes the features mentioned in the standard card plus many offers and discounts on travel services, golf experience and more.

• Elite MasterCard: This card is the best type of MasterCard, as it has all the advantages mentioned in the previous cards, in addition to other advantages such as access to the service (Concierge) that can do many things such as purchase, reservation and more. .

The difference between MasterCard and Visa

There are some differences between MasterCard and Visa, as Visa is a broader service than MasterCard in terms of transactions, merchant cards and purchase volume. Visa generated a net profit in 2020 of $21.8 billion, most of which is derived from data processing and service fees, for which fees are charged. The entity that issues the cards, which in turn recovers these fees from each individual presented, these fees are usually fixed and very minimal. As for MasterCard, its net income in 2020 was $15.3 billion, with most of that income coming from data processing and service fees like Visa. Geographic areas.

 MasterCard has the Standard Mastercard offer along with the benefits at higher levels as mentioned above, in exchange Visa also has the Standard offer, with additional benefits available with the Gold and Platinum packages, signatures and the Infinite package, however, the banks can change these terms and offer their own benefit programs Finally, these two companies have minimal impact on credit card features and products, because they are only digital platforms that only provide the system through which payments are made and cards are not issued.  Therefore, you cannot determine the amount of interest to be paid for your services, since these issues are determined by the banks that issue the cards.

 conclusion

 These days and with the rapid development, people have been inclined towards services that make their daily life easier, and among these very important services are credit cards of various kinds, where a person does not have to carry money with him at all times.  parts, all you have to do is sign up for the MasterCard service and pay through them in many international businesses and companies, and surely these cards give their holders many advantages such as discounts in certain places, services reservation and many more.