Understanding the differences between a Mastercard vs Visa Card will help you choose the right credit or debit card. These are basically the payment networks through which issuers can complete their payments.
So why is it important to understand their differences? It’s because both these networks have unique features and benefits that elevate your experience while making day-to-day payments. They also come with specific travel benefits, emergency services, insurance, and more.
Here is a rundown of what MasterCard and Visa have to offer and their key differences.
Overview of Visa and MasterCard
Both of these are two of the top payment networks operating in India and they are similar to the Indian payment gateway, Rupay. So, they help financial institutions facilitate cashless payments. An important thing you should know about them is that they don’t issue any cards.
Rather, they partner with financial institutions offering credit or debit cards. This is why your credit card’s benefits don’t depend significantly on your network partner but on the issuer and the card you select.
That said, there are minimal distinctions between them, which impact the perks you can enjoy with your card.
Key Differences Between MasterCard and Visa Card
When comparing MasterCard vs Visa Card, you need to consider three parameters: emergency services, travel perks and insurance protection. Based on these three, choosing the right option can be simpler.
Emergency Services
If you are facing an unexpected crisis, your credit card or debit card can provide you with the required assistance. Here are the emergency services you can access, depending on the payment network of your card.
| Emergency Services Offered | MasterCard | Visa |
| Cash advance | Available | Available |
| Card replacement | Available | Available |
| Roadside dispatch | Available | Not available |
| Stolen or lost card reporting | Available | Available |
| Travel assistance services | Available | Available |
Travel Benefits
Many people opt for credit cards to enjoy travel perks such as lower forex markup, discounts on dining, deals on flight and hotel booking, and more. In addition, there are some exclusive benefits you can enjoy courtesy of your card’s payment network. Here’s an overview:
| MasterCard | Visa |
| Airport Concierge | Cardholder inquiry services |
| Exclusive offers | Discounts and perks at over 900 Visa Signature Luxury Hotel Collection properties |
| Guarantee hotel stays at the lowest rates | Global Entry statement credit |
| MasterCard Golf Concierge | Invite to Sonoma County winery events |
| MasterCard luxury hotels and resorts portfolio properties at over 3,000 global locations | Priority Pass lounge access and Visa Signature Concierge |
| No-cost professional travel services | Rental automobile privileges |
| Priceless Experiences | Travel safety and emergency support |
Purchase Protection and Insurance
Here are all the exclusive insurance and liability benefits offered by Visa and MasterCard.
| MasterCard | Visa |
| Cell phone protection | Airline incidental coverage |
| MasterCard ID theft protection | Cell phone protection |
| Zero liability protection | Emergency evacuation |
| Extended warranty coverage | |
| Hotel theft protection | |
| Medical and dental emergency assistance | |
| Price protection | |
| Purchase security | |
| Reimbursement on lost luggage, trip delay, and baggage delay | |
| Reimbursement on trip cancellation or interruptions | |
| Return protection | |
| Zero-liability policy |
Visa vs. MasterCard: Which One Should You Choose?
You can review the different types of services and perks offered by both and choose one that aligns with what you need. However, you also need to remember that Visa and MasterCard classify their credit cards according to the level system that affects the benefits you can enjoy. So, you don’t enjoy all the benefits with all the cards.
The MasterCard network divides credit cards into three levels:
- Standard
- World
- World Elite
Here, the Standard MasterCard credit card gives you the basic advantages, but World and World Elite offer better privileges. This is because the latter is specifically designed for travel and global usage.
That said, its perks include 24/7 multilingual emergency, concierge services at the airport and golf course, ticket arrangements, special luxury dining and hotel offers, and more.
Similarly, Visa classifies cards into a three-tier structure:
- Visa Traditional
- Visa Infinite
- Visa Signature
The Infinite and Signature Visa cards have some additional perks over Visa Traditional. However, irrespective of this hierarchy, the variation in benefits among them is nominal.
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