Comparison between Visa and Mastercard | Fusion - WeRIndia

In India, the majority of cardholders use Visa and Mastercard. Each card has its own benefits.

Here is a comparison between both Visa and Mastercard:

Both Visa and Mastercard have similar features on the entry-level. There is little or no difference between both of them at the basic level. Both offer purchase protection and insurance.

Both these cards are payment gateways that facilitate payments. Banks that issue these cards have to pay a fee to these gateways. That’s why they charge a joining fee and an annual fee from their customers. Fees vary with the features and benefits of cards.

Visa card has a global acceptance of around 57 million people, while Mastercard has the acceptance of 48 million people. While Visa has a market share of 60 per cent, Mastercard has a 30 per cent share. Both cards are accepted in over 200 countries across the globe.

The most common benefits that a basic level Visa card offers are as follows: Emergency card replacement and cash disbursement, roadside dispatch, and zero liability. Customers can report lost or stolen cards. The Roadside dispatch of Visa offers roadside assistance to Visa cardholders. It is a pay-per-use programme available round the clock. Except for roadside dispatch, Mastercard also offers all the above benefits to their cardholders. However, you can choose the Road Assist service as part of the Travel Assistance benefits of the card. Nowadays, many premium cards offer this service to their customers.

For instance, HSBC premium cards have the following benefits. HSBC Smart Value Credit Card has neither a joining fee nor an annual fee. It offers 10 per cent cashback up to ₹1,000 in the first 60 days of issuance and 3X reward points on online shopping. Similarly, HSBC Premier Mastercard also does not have a joining fee or an annual fee. It offers 2 Reward Points for every ₹100 you spend and a 24-hour golf concierge service. Similarly, there are many such cards offered by banks to their customers.

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