Visa and Mastercard are the two most widely used payment networks in the world. If you’re not sure which to…
Visa and Mastercard are the two most widely used payment networks in the world. If you’re not sure which to choose when you’re in the market for your next credit card, the most important thing to know is that it doesn’t matter all that much.
“When it comes down to the essential function of each, Mastercard and Visa are payment processing networks who make their services available to consumers through co-branded partnerships with banks and credit unions,” says Bruce McClary, senior vice president of membership and communications for the National Foundation for Credit Counseling.
In other words, they manage the actual payment transactions between the merchants and the financial institutions. And since both are widely accepted throughout the world, adds McClary, the differences between the two may not matter much to most consumers.
Fast Facts: Visa vs. Mastercard
| Visa | Mastercard | |
| Founded | 1958 | 1966 |
| Cards in circulation (as of Dec. 2024) | 4.8 billion | 3 billion |
| Global reach | More than 200 countries and territories | More than 210 countries and territories |
| Headquarters | Foster City, California | Purchase, New York |
| Benefit levels | Traditional, Signature, Infinite | Standard, World, World Elite |
Visa vs. Mastercard: Similarities
— Function. Visa and Mastercard are both payment networks for credit cards, debit cards and prepaid cards. Their cards are issued through numerous bank and credit union partners throughout the globe.
— Acceptance. Visa and Mastercard are accepted just about everywhere. Discover and American Express are nearly as widely accepted in the U.S. but less so in other countries. However, you’ll be hard-pressed to find yourself in a situation where Visa or Mastercard is not accepted.
— Security. As payment networks, both Visa and Mastercard take data security seriously. That’s why they both offer zero fraud liability on all their cards, says Phil Sealy, digital payment technologies research director at global technology intelligence firm ABI Research.
Visa vs. Mastercard: Differences
Since both Visa and Mastercard are largely in the background of most debit and credit card transactions, the differences between the two may not matter much to most consumers. “It is the banks and credit unions that set the terms such as interest rates, monthly fees and payment due dates,” says McClary.
One area of slight variation is their suite of benefits. Both card issuers have three benefit levels. “There are increased features further up the portfolio mostly linked to loyalty rewards and travel,” says Sealy.
Key Visa Benefits
Here are some of the Visa card benefits available. Note that issuers may not include all of these, and they might have other benefits of their own.
Visa Traditional
— ID Navigator Powered by NortonLifeLock
— Dovly Uplift, a free credit monitoring program
— Pay-per-use 24/7 roadside assistance
— Emergency card replacement within 24 to 72 hours
— Emergency cash disbursement
— Sofar Sounds ticket benefit
Visa Signature and Visa Infinite
— Special guest status at more than 900 Visa Signature Luxury Hotel properties
— Car rental benefits
— Concierge service
— Priority Pass airport lounge access
— Rebates for air-travel-related fees
— Travel and emergency assistance services
— Built-in auto rental coverage
— Extended warranty protection
— Lost luggage reimbursement
— Global Entry statement credit
— Baggage and trip delay, cancellation and interruption reimbursement
— Hotel theft protection
— Travel accident insurance and emergency evacuation
— Emergency medical and dental
— Cellphone protection
— Purchase security, price protection and return protection
Visa Infinite has pretty much the same protections and benefits as the Visa Signature, with slightly better hotel perks. You get additional benefits through the Visa Luxury Hotel Collection and Relais & Châteaux, a luxury vacation property company. Visa Infinite cardholders also receive additional benefits through OpenTable and at Universal Studios Hollywood and Universal Orlando Resort, as well as additional savings on golf merchandise and fees.
Key Mastercard Benefits
Here are some of the Mastercard benefits available. As with Visa, issuers may offer their own benefits along with or in place of these.
Mastercard Standard
— Mastercard ID Theft Protection
— 24/7 global emergency services
— Statement credit for public transit
— Savings on MoviePass, Booking.com and HealthLock services
— Mastercard Music and Entertainment Access
World Mastercard
— Includes most Standard benefits
— Savings on Lyft, Instacart, ResortPass and Peacock services
— Priceless Experiences in culture, dining, sports and entertainment exclusive to cardholders
— Exclusive Mastercard travel benefits
— Golf benefits and experiences through Mastercard’s Golf Concierge Service
World Elite Mastercard
— Includes most World card benefits
— Complimentary 24/7 concierge service
— Golf concierge services
— Discount on Alo Moves membership
— Mastercard travel rewards
The bottom line is that these amenities will vary by card anyway, with issuers throwing in their own perks on top, so it’s important to look at the full picture.
Which Is Better: Visa or Mastercard?
Deciding who wins the battle between Visa and Mastercard is a tough call since the differences are negligible. Visa does seem to offer a bit more at the base level, along with a wide range of travel benefits in its higher tiers. But someone who enjoys exclusive access to or discounts for entertainment and sports experiences might find more value with Mastercard.
If you’re someone who enjoys premium cards, then weighing the travel benefits and consumer protections of Visa or Mastercard could be a deciding factor. However, it’s more likely that when you’re exploring cards, other features like rewards, sign-up bonuses and general card terms will have a much bigger impact on your decision.
At the end of the day, what matters most is that your card will be accepted and payments will go through securely, regardless of whether it’s a Visa or Mastercard.
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Visa vs. Mastercard: What’s the Difference? originally appeared on usnews.com
Update 07/02/25: This story was previously published at an earlier date and has been updated with new information.
