With the introduction of electronic money, life has become somewhat easier. Especially it was felt by people who often travel around the country, and even the whole world. Now you do not have to stuff your wallet and pockets with cash - just take a bank card with you. But it should be noted that not all cards can help you in a foreign country.
There are several payment systems: some of them operate within the framework of one state, others - in any country in the world. Systems that are recognized almost anywhere in the world include MasterCard and Visa. The logical question arises: if these systems are generally accepted, what is the difference between a mastercard visa?
Who is the creator?
The MasterCard system was created back in 1966 as a result of an agreement between several banks of America about the creation of an association. The name was then different: the system was known as the "Interbank Card Association".And only in 1979 this payment system received the current name.
The Visa system appeared in the summer of 1976, and also in America. In 2007, the American corporation Visa Inc. was established. Its subsidiaries( direct or indirect) are companies:
- Visa U.S.A.;
- Visa Canada;
- Inovant.
Only Visa Europe is an independent entity. It is managed by the financial institutions of Europe.
Currently, both payment systems are international.
At the beginning of the third millennium MasterCard had 26% of users, and the Visa - almost 57%.
Which system is better than
No bank employee will answer this question to you: the domestic Russian market reacts quite exactly to both systems.
The main currency of
Visa from MasterCard differs in the base currency:
- Visa - American dollar;
- MasterCard - both the dollar and the euro. In our country, the system in MasterCard carries out mutual settlements in euros.
Correspondent accounts
When signing an agreement with any payment system, one or several accounts are billed. In principle, the bank can open two currency accounts for MasterCard on the euro and the dollar. But in practice, this happens extremely rarely because of the banal lack of profit for the bank. Although the map, "charged" on two currencies, would undoubtedly become the most convenient for people who travel a lot.
Conversion rate
The rate of conversion of Visas and MasterCard is slightly different from each other. And MasterCard can be learned only by fact, and the Visa course is open.
In both payment systems, a conversion is made if your account has an amount in a currency other than MasterCard or Visa currencies( for example, your account is expressed in rubles).
In this case, one part of the conversions are conducted at the rate of your bank, and the other - at the rate of payment system. In addition, any bank can apply a so-called "commission" to the conversion. The value of commission fee varies from 0 to 5 percent and is determined solely by the policy of a specific bank.
In other words, regardless of whether you use Visa or MasterCard, the conversion brings you a certain loss( but the profit remains the second "player" - the bank).
For Sberbank of Russia, for example, it is more advantageous when they work with Visa.
Travel tips for
When traveling abroad, please note that not all MasterCard and Visa regions are equally advantageous:
With a Visa, it is best to visit the following countries:
- Canada;
- United States;
- Australia;
- Thailand;
- The countries of Latin America.
Unlike the above countries, when traveling to European countries, to Cuba and some African countries it is better to work with the MasterCard payment system.
Experienced travelers warn that in Cuba, a Visa card can simply not be accepted, or you will be serviced, but the commission can be up to 20 percent.
Premium Cards
In this category, the first place is undoubtedly the Visa. The service for this system is wide:
- legal and emergency assistance;
- medical assistance in the telephone mode( finding the most suitable hospital, consulting a qualified doctor, etc.);
- loyalty program;
- concierge service.
MasterCard Premium can not boast of such a wide range of services, but there are also pleasant services in this system:
- urgent re-issue of a lost card( instead of this, the amount of money can be given in cash);
- privileges from companies that are partners of the system: discounts on purchases, visits to restaurants, etc.
If, after reading this article, you are still wondering what the difference between a visa and mastercard is - unequivocally: the main difference is only the difference in the processcurrency conversion.
