Visa Card and MasterCard; Which one is best for you in 2023?

Since cards are introduced as a payment method instead of cash, everyone uses a debit or a credit card, but merely we noticed that each card is different and carries a different name like Master Card, Visa, American Express etc. Master Card, Visa are the two biggest electronic payment processing networks worldwide. In our country, we are mostly familiar with Visa and Master Card as Electronic payment instruments.

But most of the time we are in a dilemma of choosing a card brand. Most of the merchants will accept both cards as a payment method but there is some difference between these two brands depending on fees, user experience, offers availability etc. Here we are talking about the basic differences between Visa Card and MasterCard.

What is Visa Card and MasterCard?

A Visa card is a card that uses the Visa network for making payments for purchases and is branded by Visa. Visa Inc. is an American multinational financial services corporation founded in 1958 which headquarter situated in Foster City, California, United States. Visa Inc. initiated its service through credit cards, but now Visa provides debit, credit, prepaid, and gift cards as well.

Even though Visa cards bear the Visa symbol, these are not issued by the Visa company, they are issued by partnered financial institutions or banks. Over 200 countries merchants are accepting Visa cards for payments. You can get individual or Business Visa cards as your requirement. Types of Visa card;1. Visa Classic
2. Visa Gold
3. Visa Platinum
4. Visa Signature
5. Visa Infinite
A MasterCard
 is a Card that can be used for making payment of purchases by using the MasterCard network as well as branded by MasterCard. MasterCard holds the second position after Visa as a payment gateway.

MasterCard Incorporated, MasterCard Inc., or MasterCard is a multinational financial services corporation of America which started its operation in 1966 and its headquarter is located in O’Fallon, Missouri, United States. MasterCard unlike Visa provides debit, credit, and prepaid cards. Types of MasterCard.
1. Standard Mastercard
2. Gold Mastercard
3. Platinum Mastercard
4. World Mastercard
5. World Elite Mastercard

Read Also: What documents do I need to apply for a credit card in Bangladesh?

By using Visa Card and MasterCard payment gateway, most of the banks in the world provide payment facilities to its customer. There is no specific difference between MasterCard and Visa Card. Both of these are ATM cards and their work is similar. Both companies don’t issue cards they do the business of their payment network. 

They play as a third party between banks and Merchants to settle the payment of consumer’s purchases. According to the customer choice partnered bank issue whether Visa or MasterCard. Types of Visa and MasterCard are also set by respective banks as they offer special benefits for special types. Therefore, interest rates, rewards, annual fees and all other charges are also set by the card issued.

The difference between Visa Card and MasterCard.

I think we have the primary knowledge about Visa Card and MasterCard. Now we know about the differences between these two:

Between Visa Card and Mastercard

1. Visa and MasterCard both are International cards using their own network or gateway.

2. The main difference between MasterCard and Visa Debit Card is the operating costs. Since every transaction through the banks will have to pay different service charges to the payment gateway.

3. Visa or MasterCard is an American company and when we use its card for payment for data processing and verification, the server goes to the company’s server.

4. For usability, both cards are providing quite the same facilities to their stakeholders. About 200 countries merchants are accepting Visa or MasterCard for payment settlement. But card issuing banks are offering a variety of offers to their customers depending on the card brand.

5. In the case of online security, MasterCard provides a “Secured Code scheme” whereas Visa provides a “Verified by Visa scheme” system. MasterCard also provides ‘Zero Liability Protection’ whether you pay in a store, over the phone, or online you’re not responsible for unauthorized purchases with your card.

6. Both cards are offering rewards like; Travel rewards, Store-specific rewards, Food and beverage rewards, Cashback rewards etc. as set by issuing banks. That may vary card brand to brand, bank to bank that they are able to make collaboration with the merchants.

7. Mastercard provides ID Theft Protection service without any additional cost. To activate these service alerts, visit Mastercard ID Theft Protection and then enter your card number to start the registration process. Visa has no specific service till now they use the ‘Verified by Visa’ scheme a password-protected authentication system to confirm the identity of the cardholder at the time of payment.

8. Both brands are offering 03 levels of advantages to the cardholders;

  • Basic.
  • Mid-range.
  • Premium


Both basic benefits packages generally include similar perks like:

1.      Emergency assistance

2.      Urgent card replacement

3.      Extended purchase warranties

4.      Car rental collision cover.

With Visa, you get unauthorized purchase coverage. With MasterCard you get fraud liability protection. MasterCard also offers you discounts on sporting and travel tickets.


The Visa card mid-range package is called Signature. With this, you get the basic benefits along with:

  1. discounts via an online portal
  2. deals on entertainment, dining, travel and sporting events
  3. a 24/7 concierge service.

The MasterCard mid-range package is called World. You get the basic perks along with:

  1. 120 days of price protection
  2. dedicated personal travel advisor
  3. perks at certain hotels (such as room upgrades and late checkout).


The Visa Infinite package and therefore the others within the Visa Premium collection gives you all the fundamental and Signature perks. But it offers additional premium benefits designed especially with high class clients in mind. 

On the other hand, The World Elite MasterCard package gives you all the essential and World benefits, plus extras including:

  1. discounted car rental
  2. reduced airfares and holidays
  3. access to airport lounges
  4. security on all spending.

How could I get my card?

For a debit card, you have to go to your bank where you have maintained your transactional account like savings, SND/STD, Current account etc. You have to choose your card brand whether Visa or MasterCard. Now a day’s banks are offering card facilities at the time of account opening.

Applying for a debit card you have to submit your NID, Passport size photo, TIN certificate etc. But for a credit card you have to follow some procedures because Credit Card is a loan facility provided by the banks to its customers.

Which card should I choose?

Both cards are offering the same kinds of benefits to their customers. Both are secured, safe and dependable for use as a payment method for your purchases. If you are thinking about reward programs and offers, then you should choose the one which offers deals on the things you are interested in.

In our country, both cards are used for money withdrawal from any bank booth. Even if your card supports dual currency you can withdraw money from any place in the world.

However, in terms of convenience, there really isn’t much in it and the vast majority of the time, it won’t really matter whether your debit card or credit card is Visa or Mastercard.


01. Is Visa more accepted than Mastercard?

Both MasterCard and Visa cards are accepted by almost all merchants in our country and all over the world. Acceptancy or popularity depends mostly on which brand proving many offers and rewards other than the another. Offers is provided by the contract made by the merchants and the card-issuing bank.

02. Is MasterCard a credit card or a debit card?

MasterCard is a name of famous payment processing network who offers both credit and debit according to the customer’s choice.

03. How much do Mastercard and Visa charge per transaction?

Examples of average card processing charges for each transaction by the major brand in our country are;
Sl. No. Name of Card Brands Percentage (%)
01. Mastercard 1.55% – 2.6%
02. Visa 1.43% – 2.4%
03. American Express 2.5% – 3.5%

04. Who owns Visa or Mastercard?

MasterCard and Visa both are separate multinational financial services corporations in America.

05. Is Visa or Mastercard provides cards?

Visa or Mastercard are the payment network provider who doesn’t issue a card. They work as a third party between the Bank and the customer at the time of payment settlement for the purchases.

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