Is There Difference Between Visa and MasterCard?
Most popular credit card users have either a MasterCard or Visa or both. MasterCard and Visa currently command the largest credit card market share across the globe. They work in a very analogous way making it hard to draw a clear line between them.
Some folks have argued that Visa and MasterCard do not have any difference. While this argument is contestable, the reality remains that Visa and MasterCard are the leading giants in the credit card market today. They are accepted widely throughout the world. More than two hundred countries across different continents accept these cards and rarely does any region accept one and decline the other.
This makes transactions using either of the two cards much convenient – because you can conveniently transact business in different regions when you travel without being limited by the payment system.
The only problem may come in from the side of the banks or payment processors. While your MasterCard or Visa card will certainly be accepted as a medium of payment, most banks are guarded when dealing with high risk businesses.
They will hardly be willing to extend financial services to startups or even established businesses operating in deals that have been flagged as high risk. And if you have a bad credit history or you have run into debts, your case becomes worse whether as an individual or a merchant.
It is therefore advised that you opt for alternative financiers that accept high risk dealings if you are staring up a business. The High Risk Guys is a great place to start. They accept MasterCard and Visa dealings and will help you with your high risk business financing.
The good thing about HRG is not just their unbiased acceptance of these two leading credit cards. Rather, it is their acceptance to extend financial services to actual and aspiring merchants whose Visa or MasterCard has a bad credit history. To open a High Risk Merchant Account with HRG, visit highrisk-merchantaccount.com.
Comparison of Visa and MasterCard
Both MasterCard and Visa issue billions of new cards every year. Visa is said to issue out approximately 1.6 billion cards. MasterCard, on the other hand, does not provide these statistics in terms of the numbers issued. Instead, it provides more than 18 billion payments as the number processed per year. This in a way succeeds in avoiding direct comparison against Visa, its chief competitor.
Whether you choose Visa or MasterCard as your credit card of choice, their interest rates will vary significantly depending on the merchant services. The card brands themselves have no significant difference. The best advice is: shop around within your localities to find out what the local card processors charge on interest before you sign up for one.