What is Mastercard?
MasterCard cards are defined as Global Bank Payment Cards, which include several trademarks.
(MasterCard), (PayPass), (Maestro) and (Cirrus). These brands are based on collaboration with financial
institutions and the banks that issue these cards and also with traders who accept to deal with these
cards. There are more than 28 million sites accepting transaction and payment through MasterCard cards
and it is worth mentioning that Mastercard does not issue cards, does not charge annual fees for card
holders and does not require traders to accept their cards, but in return sets special policies on payment and recharge.
MasterCard is the second largest global payment network after visa, using its own global payment
network to facilitate payment transactions, including several parties; MasterCard account holders, traders
and financial institutions that issue these cards, Payment cards may be credit cards, prepaid cards or debit cards.
Master Card Types
There are several types of MasterCard cards and each has many advantages as follows.
Standard Master Card
Mastercard), Mastercard Standard Card has many features most important; Get emergency assistance at
any time, language and anywhere, including theft, loss or other inquiries, and also can subscribe to the theft protection service that monitors the account
MasterCard Global Card
The World Master Card includes the features mentioned in the Standard Card as well as many offers and discounts on travel and HL services for golf experience and others.
Elite Master Card
This card is the best type of MasterCard card, enjoying all the benefits mentioned in the previous cards, as
well as other benefits such as access to Concierge service which can do many works such as bookings, shopping, etc.
The difference between MasterCard and Visa
Visa is a broader service than MasterCard in terms of transactions, traded cards and purchase volume Visa
generated a net revenue of $21.8 billion in 2020, the majority of which is earned from service fees and
data processing. Fees are charged to the issuer of the cards, who in turn recovers these fees from each
individual served For MasterCard, these fees are usually fixed and very small, bringing its 2020 net
revenues to $15.3 billion. The majority of this revenue comes from service fees and data processing such
as visa, It is worth mentioning that MasterCard has a single business sector called Payment Solutions, which is divided by geographical regions
The MasterCard card has a width (Standard Mastercard) along with advantages of higher levels as
mentioned above In return, Visa has a standard offer as well, with additional benefits available with Gold,
Platinum, Signatures and Infinite packages However, banks can change these terms and offer their own
benefits programs Finally, these two companies have little impact on credit card benefits and products,
Because they are just digital platforms that provide only the system through which payment is made and
do not issue cards; Therefore, it cannot determine the amount of interest accrued from its services. These things are determined by the issuing banks