Which is Better: Mastercard or Visa? A Comparative Guide for Global Travellers
When it comes to international travel, choosing the right credit card can make all the difference. Visa and Mastercard are...
When it comes to international travel, choosing the right credit card can make all the difference. Visa and Mastercard are the two biggest global payment networks; both are accepted in millions of locations worldwide.
Do a proper comparison of Mastercard vs Visa cards and choose the one which offers better perks, lower fees, and greater convenience for your international trips.
In this guide, you will learn the differences between Visa and Mastercard based on key travel-related factors like acceptance, foreign transaction fees, travel benefits, and security features.
Whether you’re a frequent flyer or planning your next vacation, this comparison will help you decide which card best suits your travel needs.
Know About the Global Payment Giant – Visa
Visa is one of the most widely accepted payment networks, making it a solid choice for travellers. Here’s what you need to know about the global payment network visa:
- Worldwide Acceptance
Visa cards work in millions of locations globally, making them super reliable for domestic and international payments.
- Strong Security Safeguards
Visa provides comprehensive fraud protection services and zero liability for unauthorised transactions. These enhance security and keep your money safe.
- Travel & Shopping Perks
Visa offers cashback, travel rewards, and discounts on purchases, depending on the card you choose.
- Massive Market Share
It’s the second-largest payment network after China’s UnionPay, handling over 50% of global transactions.
- Billions of Users
By the end of 2023, Visa had issued 4.3 billion cards worldwide, processing transactions worth a whopping USD 212.6 billion.
- More Than Just a Card
Visa offers access to ATM networks and financial tools to support businesses. These features provide convenience and financial management to both individual and business cardholders.
Top Features of Mastercard
Mastercard is another big player in the global payment industry, offering secure and convenient electronic transactions. Here’s what makes it stand out:
- Global Reach
Mastercard cards are accepted in millions of locations worldwide, just like Visa.
- Cutting-Edge Technology
It’s known for innovations like contactless payments and enhanced security features.
- Rewards & Benefits
It offers travel perks, cashback, and discounts depending on the card type.
- Bank Partnerships
Mastercard partners with over 25,000 financial institutions to issue its cards.
- Revenue Model
It makes money through interchange fees (swipe fees) charged to banks for processing payments.
- Established History
It was founded in 1966 as a banking consortium to compete with Visa.
- Billions of Users
As of December 2023, Mastercard had issued 3.3 billion debit and credit cards, including co-branded ones with banks and financial institutions.
Differences Between Visa and Mastercard
Visa and Mastercard are both widely accepted and offer great security and perks. However, some differences may help you decide which one suits you better. Here’s a list you can use to compare:
| Feature | Visa | Mastercard |
| Market Share | Higher transaction volume and broader global reach | Fewer cards in circulation compared to Visa, but still a major global player |
| Payment Technology | Uses Visa payWave for contactless payments | Uses Mastercard PayPass for contactless payments |
| Transaction Fees | Fees are based on card volume and vary by issuing bank | Fees are based on a percentage of global dollar volume, with variations by card and bank |
| Acceptance | Accepted in over 200 countries and territories worldwide | Accepted in 200+ countries, but availability may vary by region |
| Security Features | EMV chip technology, fraud protection, and zero liability for unauthorised transactions | EMV chip technology, advanced fraud detection, and zero liability for unauthorised transactions |
| Card Types & Tiers | Offers Classic, Platinum, Signature, and Infinite card types | Offers Standard, Platinum, Radiance, World, and World Elite cards with additional perks at higher levels |
| Technology & Innovation | Supports contactless payments, mobile wallets, and secure online transactions | Focuses on digital payment solutions, including tokenisation and AI-driven fraud prevention |
| Fees & Rates | Determined by issuing banks, with variations by card type | Also determined by issuing banks, with variations depending on the card |
| Partnerships & Exclusive Offers | Offers travel, shopping, and entertainment deals through bank partnerships | Provides travel, dining, and lifestyle perks, often different from Visa’s offerings |
| Contactless Payments | Utilises NFC technology for tap-to-pay transactions | Uses NFC technology for secure tap-to-pay transactions globally |
| Security Tokenisation | Uses card-on-file tokenisation (COFT) to protect sensitive card details in online payments | Also uses COFT to protect digital transactions securely |
Exclusive Benefits: Mastercard vs Visa Card
Both provide valuable perks, such as purchase protection, travel benefits, emergency assistance, and zero liability for fraud. However, each network offers unique advantages tailored to different spending and lifestyle needs:
| Benefit Category | Visa | Mastercard |
| Travel Perks | Discounts at close to 1,000 luxury hotelsExclusive access to Sonoma County WineriesCar rental benefitsPriority Pass lounge access24/7 travel assistance | Exclusive access to 3,000+ high-end hotels and resortsDiscounted hotel room ratesFree car rentalsAirfare discounts |
| Purchase Protection | Zero liability policy Trip delay compensationLost luggage reimbursementPrice protection | Mastercard ID theft protectionMobile phone protectionZero liability fraud protection |
| Emergency Services | Roadside assistanceEmergency card replacement24/7 travel assistance | Fast card replacementLost or stolen card supportTravel emergency services |
Mastercard vs Visa: Which One Should You Choose?
Selecting between Visa and Mastercard depends on your spending habits, travel needs, and financial preferences. Here are some key factors to consider before making a decision:
- Consider Your Usage
- For frequent international travellers, Visa offers broader acceptance and better global reach.
- Rewards and Benefits
- Always check out rewards programs, including cashback, travel perks, and exclusive privileges.
- Choose a card that aligns with your lifestyle and will help you earn more cashback and travel benefits.
- Fees
- Compare annual fees, interest rates, and additional charges associated with each network’s credit cards.
- Ensure that the card fits within your budget and supports your financial goals.
Visa and Mastercard offer excellent global acceptance, security, and perks, making them great choices for travellers. Instead of focusing solely on the network, look at the fees, rewards, and control options that suit your lifestyle. Do a credit card eligibility check to ensure that your application is accepted.
If you’re looking for a feature-packed credit card that comes in both Visa and Mastercard variants, consider the One Credit Card. This card will help you make easy foreign transactions as it has vast acceptance.
This credit card is available in both physical and virtual formats, offering:
- No hidden fee
- Instant digital onboarding
- 5X rewards on your top two spending categories
This card comes with a robust app that makes your monthly payments a lot easier. From paying your bills and rent, you can also use the OneCard credit card App to track your expenses. Apply now and enjoy this lifetime-free credit card.
