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Confused about Visa credit cards?
Want to know the difference between a MasterCard and a Visa credit card? Comapre Prepaid are independent and impartial, so can help you compare credit cards from both Visa and MasterCard.
Visa or MasterCard?
Visa and MasterCard are both worldwide payment systems and not credit cards themselves. They both rely on banks and providers and companies to issue credit cards and to use their system around the world to issue cards that use their payment system. From this the banks take a % of the amount charged to retailers to take payments via these cards. In return the retailers get a certain degree of assurance that the goods / services they have sold will be paid for.
There are no significant differences between.Visa and MasterCard. They are both global companies in their own right who manage credit cards, prepaid credit cards, business and gift card payments. Because Visa is global you can use a visa credit card worldwide.
Travelling aboard take a visa credit card
Thinking of taking a holiday aboard or travelling for business, its good to take a credit card aboard just in case something happens outside your control. Before going on your next holiday check to see if your card can be used there as although both Visa and MasterCard are worldwide cards not all countries may accept them so check before you take your visa credit card aboard.
About Visa credit cards
There are around 88.7 million Visa credit cards in circulation in the UK. The Visa payment system is owned by 21,000 financial institutions. Visa also sponsors the Olympic and Paralympic games and the Rugby World Cup.
Visa introduces payWave
Visa payWave uses highly secure short range wireless technology to exchange payment instructions between a chip card and a chip card terminal. For payments of less than or €15 (or £10 or less in the UK), you simply ‘wave' your card in front of the card reader. The transaction takes place in less than a second.
Although the transaction does not require a PIN, several sophisticated anti-fraud measures have been incorporated. For example, a pre-set limit for Visa payWave transactions will be set by the card issuer. This limit is automatically re-set each time a standard chip and PIN transaction is conducted. If this pre-set limit is ever exceeded, the Visa payWave terminal will automatically ask for a standard chip and PIN transaction to be conducted.
The benefits of Visa payWave include:
- Shorter queuing times
- Quicker transaction times
- Added convenience
Verified by Visa
Visa recently introduced 'the Verified by Visa' scheme to tackle fraud when giving your details on the internet. This service protects your Visa card details with a password, but is currently in its infancy with only a handful of retailers carrying the scheme.
Visa credit card with Chip and PIN
Chip and PIN (Personal Identification Number) technology is an initiative agreed to by Visa, MasterCard and Europay. Instead of signing for purchases, you need to use a PIN number which got when your visa credit card was issued all you do is key in the number on the keypad and it verifies the transaction. This was introduced to combat the growing stem of credit card fraud that was hitting the credit card market. Domestic fraud fell by 78% in France when the chip and pin system was introduced
Choosing the right credit card for you
It is really up to you whether you would prefer Visa or MasterCard, you will need to shop around to decide which card is the best for you. Interest rates vary significantly between cards, so it's worth making sure you're getting a good deal before you sign up.
Still not sure don't worry, look at our comparison charts on charge rates and introductory offers, you can even see further information by reviewing the card of your choice before you apply online.
Compare reward credit cards through us
Our site, credit card prepaid comparison helps you to compare credit cards based on their features and facilities provided by them we also do reviews on the cards so you can see all the information you need. This page compares credit cards on the basis of giving you rewards when you use your card. All these credit cards are listed in an easy format so that comparison among the credit cards can be done with considerable ease. Our list includes all the major credit cards which offer rewards to their clients along with a host of other features. Some of the credit cards include Virgin, BMI, and Barclaycard. Some of the credit card companies provide in addition balance transfer facilities with low interest or zero interest on purchases made during a specific period of time while some companies even offer both facilities to attract more customers. |
