MasterCard is a brand of credit cards that was first published by the United California Bank company. This MasterCard is equivalent to the Infinite VISA card. The minimum usage is 75 million in a year if you transact below this amount, it will be subject to annual or monthly fees depending on the large number of credit card issuing banks. To have this card, you must be able to meet the same standards as VISA Infinite. The advantage of this card is that it can be received twice as much in various countries. In addition, you will get convenience in making reservations, at airports, etc. World MasterCard also provides Identity Theft Resolution Service, a service to protect your identity when someone tries to steal your identity, you will receive a warning from this feature.
bit by bit, over time... it will accumulate into a mountain..!
There Two Big Companies Issue These Electronic Cards Those Two Companies Are :
- MasterCard Company : Which Issues All Types Of The Electronic Master Cards .
- Visa Company : Which Issues All Type Of The Electronic Visa Cards .
And You Can See Their Logo In The Following Photo :
And Those Two Companies Issue These Cards In Different Types Such As :
- Debit Cards .
- Credit Cards .
So Credit Cards and Debit Cards Are Two Types Of Electronic Cards Which Are Being Issued By Visa Company and MasterCard Company .
A MasterCard card is an electronic payment card under the MasterCard network that is being used to process transaction communications. It is primarily used for credit, debit or as prepaid cards and it is usually embellished with the MasterCard logo. When used as a credit card, a master card will be connected to a financial institution which pays for all the purchases made with the MasterCard. When used as a debit card, a MasterCard can be used to make withdrawals and purchases which will be deducted from the holder's account with a financial institution. When used as a prepaid card, a MasterCard can be loaded with money which can be used to make purchases without relying on any financial institution. A MasterCard is important because it has eased international transactions and has made the purchases of foreign goods easier for individuals.
Last edited by preferito; 12-31-2018 at 04:32 PM. Reason: Addition Of Point.
Actually Mastercard is an organizations who provides financial service to worldwide. This organizations provides a card having company logo to their customer for getting financial service. We known this card as mastercard & its basically a credit card. When we are creating a bank account, bank authority is providing us the facility of online banking with these world wide acceptable financial service. It helping both the bank customer & bank authority. Bank authority making profit and customer getting easy service.
There are so many advantages & disadvantage of using mastercard:-
- Avoiding risk to carry more money in pocket, if you have a single card.
- It can reduce to lost your money.
- Easy payment system to your shopping or restaurant bill.
- Can be borrow some money from this financial organizations with zero interest for a limited time.
- You can easily booked a hotel or an air ticket by using this card.
However nowadays we can't think our life without getting benefits of these digital facilities.
- Expense can increase by using this card due loan from mastercard.
- It has easy loan system but if failed to pay this loan timely then you should pay a higher interest rate!
- Sometimes you may face network problem to cash some money by using ATM booth.
- You can lost your whole money by hacking.
According to mastercard.com.ng ' Mastercard provides consumer credit, prepaid & debit cards that make it faster and easier to shop for everything, everywhere with more security and safety.'It is an online payment system for payment without phsycal contact with bank. This cards are into different forms, credit card, debt cards.
Debt card is the one issue to customers of banks by their banks who are credit wardy or who are indebted to the banks . They are giving certan amount on load and tag it into the card to be used by the customers.So they can withdraw more than they have in their account.Whie opposite is credit card, the amount in the card is customer available amount in his/her account. The customer can only withdraw the amount he/she has in the bank.
MasterCard incorporated is an American multinational financial services Corporation quarter in the MasterCard International Global headquarters in Purchase, New York, United States. MasterCard is a financial service organisation which process the transaction carried out on Credit Cards operated by a range of banks and other landers.
MasterCard provide two types of cards to use for transaction first is debit card and second is credit card.
debit card: it uses the same system as the standard masterCard.
A credit card is used to take rewards low interest rate balance transfer and Secure payments. At this moment mostly peoples are use debit cards because, they have no much money to do big transaction that's why debit card is a lot of 4 there usage.
there are diffrent payment gateways networks that is use for money trassections around the world.Like Visa, Mastercard, OneNet etc every debit or credit card must be affiliated from one of those payment gateways in order to do any online transection including ATM transactions.So Master card is a payment gatway network.
A MasterCard card is refer as a class of electronic device payment card which act with regard to the MasterCard network for a set of procedures used to produce transaction communications and it can be credit, debit or prepaid cards and it does not itself issue credit cards and it prefer to works in company of other financial institutions to attach payment easily done by cards they make possible for use and the distribution of this credit card by the company are done as subordinate to the mastercard trademark which is one of the credit cards to agree to pay vendors across the world and during an entire period of time the principal business is to outgrowth payments share in confidence in banks of a trading vessel and purchasers who use the mastercard label of proof of ownership debit, credit and prepaid to make to obtain by payment.