Mastercard is a leading global payment company that connects consumers, businesses, merchants, issuers, and governments in more than 210 countries around the world. With secure and reliable payment solutions, Mastercard provides a seamless customer experience while ensuring the safety and security of transactions.
Established in 1966 as Interbank Card Association (ICA) and renamed as MasterCard in 1979.
Introduced the first credit card with magnetic stripes in 1979.
Launched the world's first contactless payment technology in 2003.
Acquired DataCash Group plc, a payment processing company, in 2010.
Became a publicly traded company in 2006.
Visa is a global payment technology company that provides payment solutions to consumers, businesses, banks, and governments in more than 200 countries and territories worldwide. Visa operates in the same space as Mastercard and is its biggest competitor.
American Express is a multinational financial services corporation that provides payment solutions, travel services, and financial products to consumers and businesses worldwide. It operates as a direct competitor to Mastercard in the credit card and payment services markets.
PayPal is an American company that provides online payment solutions to consumers and businesses worldwide. It provides a fast and secure way to send and receive money online, making it a popular alternative to traditional payment methods like credit cards and bank transfers.
Mastercard offers a wide range of credit cards that provide various benefits and rewards to consumers, such as cashback, discounts, and points for purchases. These credit cards can be used to make purchases online and in-store around the world wherever Mastercard is accepted.
Mastercard debit cards allow consumers to access their money quickly and easily, whether for purchases or cash withdrawals. These cards can be linked to a checking account and offer the convenience of a credit card without the risk of accumulating debt.
Mastercard prepaid cards are a convenient payment solution for consumers who prefer to pre-load funds onto a card for purchases. These cards can be used anywhere Mastercard is accepted and are a popular choice for budgeting and managing expenses.
Mastercard offers several mobile payment options through various apps, allowing consumers to pay for purchases using their smartphones or other mobile devices. These options include Masterpass, a digital wallet service, and contactless payment technologies like Apple Pay and Samsung Pay.
Mastercard SecureCode is a security feature provided by Mastercard to protect cardholders from unauthorized transactions. It is a personal code that cardholders can create, which is then used to verify the user's identity during online purchases.
Mastercard offers a range of benefits to cardholders depending on the type of card they have, including rewards, discounts, cashback, insurance, and other perks. These benefits vary by card and issuer, so it is important to check the terms and conditions of each card before applying.
Mastercard works by providing payment solutions to consumers, businesses, banks, and governments around the world. When a consumer makes a purchase using a Mastercard, the card issuer pays the merchant on the user's behalf, and the user then pays the issuer back over time with interest if it's a credit card or immediately if it's a debit card.
Mastercard charges a foreign transaction fee for purchases made in a foreign currency or from a foreign merchant. The fee can vary depending on the card and issuer, but it is typically around 3% of the purchase amount.
Mastercard is accepted in over 210 countries and territories around the world. However, acceptance may vary depending on the merchant and their payment processing capabilities, so it is always a good idea to check before making a purchase.