Visa vs MasterCard - Which one is better ?
Both VISA and MasterCard are very big corporations and have similar statistics in terms of no. of users, cards deployed and the no.of merchants where they are accepted.
| VISA | MasterCard | |
| Founded | 1958 | 1966 |
| Headquarters | California, USA | New York, USA |
| Revenue (Billion USD) | 15.08 | 10.77 |
| No. Of Merchants | ~40 million | ~40 million |
What do VISA and MasterCard actually do?
VISA and MasterCard are payment networks that allow a credit card of one bank to communicate and complete a transaction with a different bank account. When you swipe your card, the payment request is routed through their network. However, most features and services on your credit card are controlled and decided by the Bank that issues you the credit card and not VISA / MasterCard.| Payment Network | Visa / MasterCard |
| Credit / Lending | Banks |
| Offers and Discounts | Banks |
| Reward Points | Banks |
| Payment Collection | Banks |
| Risk of Non-Payment | Banks |
| Interest Rate (APR) | Banks |
| Customer Care | Banks |
| Merchant Acquisition | Banks |
| Merchant MDR | Banks |
How to decide which Credit Card to get?
Your decision on which credit card to get should depend on what features and rewards the Credit Card issuer is giving you and not too much on the choice of VISA and MasterCard. Both of them have the same type of cards, both run on the same type of machines and both have the same limitations: they need to be a physical card and you need to wait for this card to be made for you.
Be prepared to wait 3–4 weeks though, because most traditional Banks, rely on a lot of paperwork to process your application. They will ask you to submit at-least 5 Documents with self-attested hard copies, then you wait for the physical card to arrive by courier and then the PIN arrives separately. Its a very old process and they haven't fully adapted to technology.
This is why we created PaySay. PaySay gives you a credit card in just 3 minutes. PaySay is faster, secure and doesn't need to be swiped anywhere. Just Tap and Pay. Sign up now to get an Instant Credit limit of Rs. 10,000