@@Hannahruda I didn't realize anyone would ever think they are the same until today. I have no idea by what logic someone could connect those ideas. How did you do that? Also, how did you even know what a travel visa was before 10? I didn't know what a travel visa was until college when it was time to considered study abroad programs.
@@cbernier3 How could you not hear about travel visas before age 10? (You probably didn't go to a school that was packed with immigrants.) The logic, since you asked, is that foreign cash sucks to convert.
Thomas Clark-Phelps AMEX starts with 3 and Discover with 6. I get a little annoyed when asked what type of cars it is when the first number almost always answers that question.
There's a difference in MasterCard's marketing from the other companies. While Visa and American Express seem to show people doing exciting things in faraway places, Mastercard's ads show things you could imagine yourself doing in everyday life, like going to baseball games, hardware stores, or grocery stores. I think that's emblematic of the changing perception of using credit cards. People used to use them only for big purchases, mainly because you couldn't use your credit card everywhere even if you wanted to. But with modern cash back cards, credit cards have become more of an everyday thing, for better or for worse.
Former retail employee here-- counting up the receipts at the end of the night, Visa would always be the most used card, followed by Mastercard, then Amex, and then Discover. We almost never had Discover card holders... honestly, I think we had more people use Apple Pay than Discover.
Is Apple Pay listed as its own thing on your receipts? For me, either Apple or Google pay just says whatever type of card you put into them when you use them - in my case Visa. My receipts just say, Visa. But I'm in the UK where the phone just send the same signals as a contactless card would, as I understand it there's less standardisation on that front in the USA?
What kind of retail did you work at all highend, lowend, specality store or general purpose/mass market store ? Places ive worked at in the past American Express was always the lowest and was usually a tie between Mastercard and Discover when it came to credit cards with Visa being number one. When it came to Debit cards Mastercard was # 1 followed by Visa and Discover
I worked for what was (and might still be) the largest credit card issuing bank, and for about 10 years was very involved in the data processing side of card transactions. You did a great job in summarizing the history of these 2 brands. You are correct that now there is very little difference between them, and absolutely zero difference for consumers. The big difference for banks until a few decades ago were mainly centered around 2 things - first of all a bank had to choose one or the other, I can't remember when that rule was dropped (it was some time in the '90s I think) you could only be a Visa bank or a MasterCard bank. The other big difference was which banks issued which cards. Visa issuing banks were much more cardholder focused, which is why the Visa brand outpaced MasterCard. The MasterCard banks were more merchant focused, so for those years the various rates that banks paid were slightly different, so between Visa cards being less costly and more cardholder friendly in terms of arbitration, there was an actual difference between them. But that hasn't been the case for a couple decades now.
Yeah when I learned that my mind was blown. Discover has a very unique story I think would add a lot to this channel if he talked about the company. Even outside of their credit card business they are huge and growing. They are bigger than you know. Discover is also owned by Morgan Stanley now. I’m very high on discover stock and think it’s a huge growth company. I think Morgan Stanley integrates Etrade into Discover. That would be a game changer. Etrade and discover already have somewhat a partnership if you look at the history of discover savings.
Excellent summary. Disclaimer: I was a Visa employee from late 1983 to early 2009. Now happily retired. It was one hell of a ride and the growth was nearly exponential at times.
@@MrWessiide I retired about a year after we went public, and we were gifted a few shares (50, IIRC) at the time. Options may have come later - but I don't know. They did have a VERY generous 401(k) (4:1 match initially, although this did decline in later years) though.
I used to tell the credit card scammers that I had a Diner's Club card. That would get them off the phone pretty quick. If not, I would give them test card numbers or just random numbers and see how long I could keep them tied up.
MasterCard used to be less accepted than Visa for a while so we had to have one of each for travel. 20 years on from then, no difference at all and although we still have one of each, we use the card that has the best rewards program for our daily lives, which happens to be a MasterCard branded card. One aspect that you should have covered as it would have seriously explained some of the market share differences is the merchant fees that cards at least, used to carry. There are some cards with rewards that had merchant fees as high as 4 and 5 percent. Up here in Canada, and in the region I live, it started resulting in offers from a lot of small or regional businesses offering cash discounts of 3%. Some chains even straight up stopped accepting ANY credit cards due to the merchant fees virtually wiping out their profit margin. In reporting that was going on in Canada, merchant fees tended to be the worst with MasterCard branded cards and in particular, cards that had rewards attached to them.
I never thought of it, but back when I got my first credit card at 18, I remember thinking that Mastercard sounded like a really old company. My parents had Mastercards in their bank and I thought it was for old people; I went with a newly formed bank and the VISA card looked really cool.
Rob Guevara I am not sure of my motivations but I also have ALWAYS perceived VISA as a better brand. I actually thought that the “for everything else there’s XXX” was a visa commercial (talk about brand penetration) Even to this day: my bank is switching from visa to MasterCard and my gut reaction was disappointed.
I think you missed the fact that the word “VISA” also refers to a document that admits someone into a country. And since BankAmericard was expanding abroad, VISA gives it a really official sounding name.
I tried to search for an article or video that linked the two things but can't find anything, I thought Visa took it's name from the document, but can't confirm that
Exactly, the name turned their international expansion into a *domestic* marketing tool for the US and other countries where it’s esrablished. It conveys the idea that, like your passport and *actual* visa, their card will give you access to exciting places around the world-the card would be accepted wherever your travels took you, so it was your “visa” to going on vacation in faraway lands without wasting as much time exchanging currencies.
In the old days, stores often used little metal plates (usually aluminum, or other soft metal that could be embossed using an "Addressograph" machine) as "cards". some with raised letters and numbers (to "scan" with an carbon paper machine, That feature lasted well into the plastic card era) I remember my grandmother talking about the "credit plates" she had from different stores!
I agree with you that the places that accept it are more limited, but I ABSOLUTELY LOVE Discover! They're customer service is impeccable! I just wish it was accepted at more places, because I do think it's a superior card.
@@wclifton968gameplaystutorials that's strange, my dad always had trouble getting it accepted at small businesses, but big businesses took it fine. He said it was because of Amex charging higher merchant fees or something.
This is an old video, but I just wanted to add something. I live in Argentina. And there is a very definite difference in the service between the two. Our country's economy is kind of hell. I'm not get into that. So buying outside of the country is trivial, yes, but not as much as it should be. It is a consistent experience that MasterCard never denied me doing any charges while Visa has very many times. No issues on the amount of credit or anything like that. Same conditions. So for my experience, MasterCard is defintely better over here
I live in Costa Rica and when i got my first credit card back in 2006 this was my same experience. Buy anything online with my Visa card? Rejected every.single.time. My bank then told me to change it to MC just because. I did and what do you know, every single online charge accepted. Sicne then Ive been an MC customer. I started with a 500usd limit and now I have a black MC card which I love as it gives me a lot of services in return for my business.
Well I'm guessing the usage came from the company, and it's likely even it was called something different (so long as it was still easy to say), you'd still be using their name as a generic term
So true. Most people don't know there is a difference - like seeing "Coca Cola", they see Visa and MasterCard always together so they end up thinking it's the same thing.
Well idk his visuals are very helpful there are like less than five videos total where he doesn’t say “just take a look at this chart/graph/measure of business success”
And remember when (?) credit cards were accepted manually by laying it on a thingy then that thingy's top half was slid over it to make a carbon copy receipt for the customer and an original receipt which was kept by the business owner then mailed to the credit card company for the charge to begin and the payment made to the business owner. There was no electronic charge in the early days.
The original American Express card was conceived as a “travel charge card,” much like a traveler’s check, which allowed travelers to pay for their purchases with a signature. It was first discussed in 1946 as a competitor to the Diner’s Club card. The card was introduced in 1956 as a purple charge card, intended for travel and entertainment. A year later, American Express brought out the very first credit card made out of plastic (unlike prior cards which had been cardboard or celluloid).
5stardave I think you mean first discussed as a concept in 1946 because it could not have been discussed as a competitor for Diner’s Club then because Diner’s Club was not around in the 1940s.
"VISA, easy enough to pronounce no matter what language you spoke" -- Koreans cannot pronounce that word correctly, because there are no /v/ or /z/ sounds in Korean. It would be pronounced "Bija" in Korean.
When I traveled more internationally for work, our company always reissued our normally Mastercard company cards as Visa cards. When traveling, even in the most remote of places, if they accepted credit cards, they accepted Visas at least.
That's weird, since Discover(through an agreement with Asian companies) and *especially* MasterCard are accepted in a lot of places, even in some of the more remote region
It depends where you are, in Europe some places only take mastercard (or even worse, only takes maestro) but usually Visa and Mastercard are almost equally accepted. I simply have both, but prefer Visa because it didn't require my PIN when i'm using Apple Pay, my mastercard require it sometimes and it annoys.
@@EudesRJ But Maestro is not a credit card and therefore is charging less to the business owner. TBF by now most places either accept all common cards or no cards at all. I would not consider Amex or Discover common in Europe, but they still are accepted by most terminals.
"The concept behind these cards dates back hundreds, if not thousands, of years." When the United States bought the Louisiana Purchase from France, they paid with a VISA credit card
Yes, most of modern finance has been done in the past...commodities future trading was done as early as the Assyrian Empire...finance complexity rose and fell along with the empires.
@@itrthho Nothing like cryptocurrency existed prior to 2008, but we didn't have the computers or cryptographic algorithms for it until the late 20th century, so that's not too bad.
For me, the biggest difference between Visa & MC is that I can only use Visa at Costco. Living on an island, where there are not as many stores to shop from as on the mainland, Costco is a go-to store for me (and many people that live on this island). Additionally, I own a lot of shares in Visa stock as well, but not that many in MC.
@@UTubeTulip That's changing with a lot of fintech and Mastercard are doing some good bets supporting smaller online/virtual banks only that are actually becoming pretty big and start to challenge traditional banks, specifically within the 30 and under market. Could see Mastercard coming back on top with expensive support for small transaction companies that actually become bigger. Then you've got investment firms offering private and retail accounts going for master card- because its more of a status things, like ooooo look at me I got credit. End of the day, these 'glue' companies (what I call companies that operate in the background but keep a sector alive) will go for clients that have high transaction amounts.
As a cards professional I claim Visa is nowhere near MasterCard as a partner - in terms of flexibility and readiness for business change. They seem to have superior R&D capabilities, but lose to MC in implementation due to layers and layers of bureaucracy and strange self-imposed limitations. Try approving an unusual design or special terms for your new product and get in approved with MC months earlier than with Visa (if Visa approves it...). Also partner fees and rules are quite complex with both companies, but Visa always seems to be much more complicated and sometimes crazy.
I'm not sure what you mean with the unusual design or special items getting approved, why would they need to approve whatever changes you sell? if you decide to sell coffee in your print shop I doubt that requires approval from the card company.
This is part of why MasterCard is accepted significantly more in Singapore. I was shocked when I couldn't use my Visa anywhere in the country except for huge chain stores.
The only thing I really know about MasterCard was their Maestro debit services that died out in the UK to Visa Debit... but I honestly don't know a whole lot about the credit side of things.
My Dad's first cards were Carte Blanche and Diner's Club. I acquired my first Debit card in 1984 when I lived in San Francisco. When I moved to Florida in 1988, the banks had no idea what a debit card was; it was not until the mid-90s that banks began to offer it.
Not much to say about them, except their interchange fees (especially Discover) are outrageous. Discover is upwards of 10% to the merchant, where Visa and MasterCard are only about 2%. Fees to the merchant can also vary between different processors (the companies that provide the terminals). When I was working retail, Citgo would charge a smaller credit fee at the register vs the gas pump and the same may be true in other areas. This is why some gas stations have programs to try and get you inside the store (not just to increase inside store sales). Some gas stations offer a "discount" if you pay in cash, others might have a gas card that gives you a discount.. all to save money on interchange fees. By contract, interchange fees may not be assessed to customers and prices for cash must match prices for credit. This means retailers earn more money from you, the customer, when you purchase with cash. Retailers have been fighting for years to make the fees public, so customers will see what they are paying extra for the conveyance. These fees are also how "cash back" rewards programs to customers are paid, and it is always at the merchants expense (via even higher interchange fees).
Discover is interesting. It was actually created by Sears during the 1980s so they didn't have to pay Visa or Mastercard and could do their own processing. They grew it fairly quickly and expanded it outside of just Sears stores. During one of their (many) bankruptcies they sold it off to pay creditors and Discover has been their own organization for a while now.
Amex and Discover cater to higher spenders, whereas Visa and MC charge the masses. Hence why airports have entire Centurion lounges whereas a Visa Infinite has mere trip interruption insurance whose claims process is kept obscure.
Went to an Olympic Hockey game in Vancouver in 2010. I knew that any Olympic event only accepted Visa and as all I had at the time was Mastercard and a debit card I assumed I was safe as I was planning on simply getting cash out of the ATM at the arena. Nope, they had set the ATMs so all you could do was get cash advances on Visa cards. My friend that was with me was in the same situation. Sat through the whole event unable to buy a beer, food, souvenirs etc. No doubt saved myself a couple hundred bucks but not much fun. I now have Visa, Mastercard and Amex.
@@retroborder Wow, today I learned the 147th reason that canadians always come to my local costco (reason 1 is milk). Also, hello from 15 minutes south of the candian border 👋
That's odd. I've never seen a store that accepts Visa not accept Mastercard or vice versa. It's always a gamble who will accept Discover or American Express.
I remember as a kid in the 1960's the Diner's Club logo on hotels and certain other business buildings. When the other 2 came out, a Diner's club card holder still held more clout.
Try digital banks, like: NEXT or Nubank, PicPay, all these use MasterCard or VISA, and these banks are easy to get registered, and some have no anual expenses. I own a Nubank card, the bank is super intuitive.
Seriously... I could see the ad campaign now. IG & YT stars getting deals out the ying-yang... but shhhh let's not give them free advertising expertise.
I remember in the early 2000s when my bank switched from a Debit Mastercard to Debit Visa. The easy thing to do would be to wait until the Debit Mastercards expired and then issue a new Debit Visa. My bank didn't wait. It caused a massive problem because the bank's internal system did not fully integrate over between the two card brands. When receiving the Visa and activating, my card would get declined all over town. Tried to use the Mastercard and same deal. This was a massive technology fail and my bank was destroyed by the local press. I got so frustrated, I just closed the account and moved to another bank.
When I was travelling internationally about 5 years ago, I quickly realized that it was better to have a Visa card than a Mastercard in certain parts of Europe. Visa was accepted pretty widely; Mastercard was more hit-and-miss. That's the biggest difference I see between them. Second biggest is the availability to people with bad credit. Check with anyone who has been through bankruptcy or had a difficult credit situation: I hear over and over again that these folks rebuilding credit will receive Mastercard invitations (at huge interest rates) long before getting a Visa invitation (not including Visa debit cards here). That's the second biggest difference.
I'm interested to hear where. I also crisscrossed Europe, I don't remember having issues with Mastercard, which I used almost exclusively until recent (by pure chance, not by choice).
Wherever i travel. I realized that visa is more useful. There are certain stores/shops that wont accept mastercard due to it's terminal. I never realized that some shops that carries mastercard. Would only accept local mastercard. With visa. I could use it without thinking it might get rejected. It was a nightmare. Amex . Mehh. Some stores doesnt even have a terminal or accept amex. Making both of my cards useless. Glad got my visa.
@@jane1929 while travelling you could look in to have besides your visa a prepaid MasterCard . that covers most of all the problems. I do it the opposite way but works the same. the times i couldn't use my MasterCard i could use the prepaid VISA. Amex i have to say it works well for travel points on certain airlines but that's the biggest bonus to my view.
As i live in Eastern Europe I can say that I find more place in my country where you can still pay with bitcoin then with MasterCard, MasterCard is accepted almost only in areas near airports big train stations and other tourist stuff (not always). Even when you create your bank account (I hope I spelled it right) you can chose default account with visa card or "international" MasterCard for currency exchange account. I think Visa is more popular because they started earlier to expand internationally and MasterCard failed as they even didn't invest to make payment cards popular (where visa with banks started giving free terminals to buissnes so they can accept cards payment)
Depends completely on which country you're in, and which bank you bank with. MasterCard and visa have no involvement at all about who gets offered which card. It is entirely up to the bank that is issuing the card
Agree with this. Discover and Amex operate differently to the globule that is Visa/MasterCard. One of the surprising things I've learned zooming around the world is how many places accept American Express but not MasterCard.
Firstly Discover isn't even heard off let alone used outside of the US. Secondly Amex charge nearly double the merchant fees that Visa and Mastercard do, there is NO benefit for the business to ever accept Amex. In many outlets here in Australia some will even charge you a fee to pay with Amex.
Discover is underrated. Visa is popular because it's tied to most banks. You're right, my bank card(s) all say "Visa" on them, but I pretty much ignore that, and think of them as my bank cards. Discover on the other hand, is the only real "credit card" I actually use. Everything else is labeled Visa, but is tied to money I already have. I like the perks of Discover better, as long as I pay off the balance before the end of the billing cycle.
I've worked in the payment industry for several years. Let me tell you, Visa and MasterCard are ingenious. They became household names and mega-cap companies and 99% of people couldn't tell you how they generate revenue.
A great exchange from Futurama: Fry: “Do you take MasterCard?” Waiter: “Sir, MasterCard hasn’t existed for 500 years.” Fry: “Visa?” Waiter: “600 years.” Fry: “Discover Card?” Waiter: “Oh, I’m sorry, we don’t take Discover Card.” 😊
Not if you know what you're doing. All you have to do is get a card with no annual fees, good cashback, etc. & pay in full every month and you're good to go.
I was changing cards with my bank the other day, and the lady asked, "Would you prefer Visa or Mastercard?" and I had no idea if I did or didn't. I just went with Visa b/c it's what I've always had with that bank. Another of my cards is MasterCard. I honestly didn't think there was a difference and this video supports that.
Sir, I have a visa card. Do you happen to know a girl holding a MasterCard by any chance? I am trying to get the level of stability you have established there, but everyone I know keeps using the darn bitcoin.
Here in Europe especially in Germany I noticed that MasterCard (Meastro) is more often to be accepted than Visa. That’s why you won’t have a choice, the most of the banks here will give you a MasterCard (Maestro)
Huh I never had a problem using my Visa in Germany, with two exceptions: 1) Places that only took cash and 2) a Vietnamese restaurant where they said they accepted card but when it came time to pay apparently they only accepted [card I had never heard of].
Petra狐 If it was in Germany they probably only accepted GiroCard (sometimes called EC-Karte) wich is a German exclusive debit card system. Most German banks give their customers a girocard as their standard banking card. Most girocards are co-brandet with either maestro or V-Pay for international use.
@@anton95rct Maybe my problem was that I spoke German and she thought I was an immigrant and not a tourist then 😂 Or maybe she just didn't care considering the ATM was literally 10 meters from the restaurant. After I wrote my comment I realized that I have a Visa debit card, and the video talked about credit cards. Not sure if it makes a difference.
Petra狐 if the Restaurant only accepted a card you never heard of it very likely was a GiroCard. It is still quite common to find places that only accept GiroCard and no other cards here. Visa Credit or Debit Card doesn’t matter to the card terminal. If it supports Visa it supports both Credit and Debit Cards.
I remember a few years back, a lot of businesses wouldn’t accept visa any longer (mostly grocery stores) because their transaction fee or something was too much. That push convinced me to get my first card which was a MasterCard, because I wanted a card that was accepted in most places and wouldn’t carry any sort of exclusive cost or inconvenience. Other than that, I can’t think of many differences. In my mind as a consumer, visa gives me an image of complexity and it being premium. A lot of the higher benefit cards are Visas. Meanwhile MasterCard seems more simple and honest in a way. That could just be up to what banks they associate with but I do see a bit of a difference between them.
After 1 year VISA vs MasterCard are really having an EPIC battle! Do your research and notice the different sticker at the different stores and also the different machines that accept the cards. It's an epic battle of transactional financial services going on! Good Luck
This is a good question, and from what I understand it's this: MasterCard is the credit arm of MasterCard. If you pay with signature or do "offline" transactions, MasterCard is the network. Maestro is the debit arm of MasterCard. If you pay with pin (i.e. select "Debit" at checkout), Maestro is the network that communicates this with the member bank. Cirrus isn't a card as much as it's an entity. It's an interbank ATM network, meaning that banks join the Cirrus Network and can perform ATM related functions through this network. MasterCard and Maestro both use the Cirrus network to perform transactions with member banks.
@@adamsfusion the funny thing is most debit cards are MasterCard and not Maestro. I guess it's so that to allow online payments. Also, both MasterCard and Maestro are PIN cards. Well, I'm speaking for Europe here.
Well, From my personal experience I recommend you to have both. Sometimes you will get that very sweet deal or even a free shipping but it always work on one of them.
*IRONIC!* this was reccommended... i just paid off *8* credit cards this week! Yes! 8 ..... Im 36.... i dug myself out of credit card debt at age 23, 28, and now 36 *NEVER AGAIN!*
The difference between MasterCard and VISA is mainly in acceptance. In some countries, one of them may be more accepted than the other. Personally I’d go far MasterCard as that’s the first debit card I ever had and had no issues so far. What I’d recommend to do is looking up whether a certain card is declined in things like online purchases more often or not.
It definitely looks cleaner and simpler, but it is still lazy. Even reading up on the logo doesn’t change my perception that a company used a Venn Diagram for a logo.
@@MichaelRockfez Personally, I think Amex has the coolest logo but after a while, a logo should be the least of your concerns when you plan to get a credit card. Lazy or not, I dont think it is a big deal, get the card that gives you the best deal.
You are right. Their availability and services are similar.. Here in Pakistan whereever the visa card is accepted the mastercard is also accepted. One thing I have noticed .. Most of Pakistani Banks offer visa cards however fewer Pakistani banks offer mastercards.
interest.... best just set limit for the card and once you hit the limited you just used cash.... never worry about the points... since it don't do much..
Especially AmEx. I had my Discover card for years and never had to pay over a $75 monthly payment. After my AmEx promotional offer was over I easily paid over $150 at the most. It's my own fault for not paying the balance in full when it was small. Currently, I'm putting out these credit card balance flames. And thanks to Corona I don't use my cards as much anymore so I can finally continue to pay these off.
When I was young, I thought VISA is the same VISA required for traveling abroad.
Crazy thing is, 🤔I never thought about those two thing and if they were the same literally until watching this video. 🤣🤣
I didn’t realize they were different until I was 10-11
You're not alone. I was pretty confused at that time lol
@@Hannahruda I didn't realize anyone would ever think they are the same until today. I have no idea by what logic someone could connect those ideas. How did you do that? Also, how did you even know what a travel visa was before 10? I didn't know what a travel visa was until college when it was time to considered study abroad programs.
@@cbernier3 How could you not hear about travel visas before age 10? (You probably didn't go to a school that was packed with immigrants.) The logic, since you asked, is that foreign cash sucks to convert.
I’d say the biggest difference between Visa and MasterCard is that Visa cards start with a 4 and MasterCards start with a 5.
Thomas Clark-Phelps AMEX starts with 3 and Discover with 6. I get a little annoyed when asked what type of cars it is when the first number almost always answers that question.
Could you send your card number so I can double check if it's right
Why didn't I notice that before. So, American Express starts with 3?
Luna Tulpa nice but maybe take off most of the number before someone brute forces the experation date and pin
All Discover cards start with 6 also
There's a difference in MasterCard's marketing from the other companies. While Visa and American Express seem to show people doing exciting things in faraway places, Mastercard's ads show things you could imagine yourself doing in everyday life, like going to baseball games, hardware stores, or grocery stores.
I think that's emblematic of the changing perception of using credit cards. People used to use them only for big purchases, mainly because you couldn't use your credit card everywhere even if you wanted to. But with modern cash back cards, credit cards have become more of an everyday thing, for better or for worse.
Mastercard's ads used to be witty.
Those 70s and 80s Master Charge/Mastercard commercials sure did depict opulence tho.
Always assumed they used the word Visa because of the term "travel visa", so associated with international traveling
That is basically the reason for the name. It's understood internationally.
Most likely THAT was the motivation for the name, but I don't believe our host Mike found that as a fact...
I did too.
I always understood it to mean that it could used to travel all around the world much like the stamp that goes in the passport.
@@TXnine7nine - EXACTLY!!!!
Former retail employee here-- counting up the receipts at the end of the night, Visa would always be the most used card, followed by Mastercard, then Amex, and then Discover. We almost never had Discover card holders... honestly, I think we had more people use Apple Pay than Discover.
Is Apple Pay listed as its own thing on your receipts? For me, either Apple or Google pay just says whatever type of card you put into them when you use them - in my case Visa. My receipts just say, Visa. But I'm in the UK where the phone just send the same signals as a contactless card would, as I understand it there's less standardisation on that front in the USA?
I wouldn't be any of those I pay cash 99% of the time
as a fellow retail employee, i concur with your experience :)
What kind of retail did you work at all highend, lowend, specality store or general purpose/mass market store ? Places ive worked at in the past American Express was always the lowest and was usually a tie between Mastercard and Discover when it came to credit cards with Visa being number one. When it came to Debit cards Mastercard was # 1 followed by Visa and Discover
A Discover card is harder to get than visa or mastercard card.
Apple pay and google pay uses your visa/mastercard.
I worked for what was (and might still be) the largest credit card issuing bank, and for about 10 years was very involved in the data processing side of card transactions. You did a great job in summarizing the history of these 2 brands. You are correct that now there is very little difference between them, and absolutely zero difference for consumers. The big difference for banks until a few decades ago were mainly centered around 2 things - first of all a bank had to choose one or the other, I can't remember when that rule was dropped (it was some time in the '90s I think) you could only be a Visa bank or a MasterCard bank. The other big difference was which banks issued which cards. Visa issuing banks were much more cardholder focused, which is why the Visa brand outpaced MasterCard. The MasterCard banks were more merchant focused, so for those years the various rates that banks paid were slightly different, so between Visa cards being less costly and more cardholder friendly in terms of arbitration, there was an actual difference between them. But that hasn't been the case for a couple decades now.
Random fact: Discover credit card was introduced by Sears.
Shows at least something from Sears survived lol
They used to own H&R Block as well, didn't they?
Yeah when I learned that my mind was blown. Discover has a very unique story I think would add a lot to this channel if he talked about the company. Even outside of their credit card business they are huge and growing. They are bigger than you know. Discover is also owned by Morgan Stanley now. I’m very high on discover stock and think it’s a huge growth company. I think Morgan Stanley integrates Etrade into Discover. That would be a game changer. Etrade and discover already have somewhat a partnership if you look at the history of discover savings.
Right!
@@paul59572 I believe Discover is completely independent company that you can purchase stock in now.
@@JoeHegyiIII And Coldwell Banker, Allstate, and Dean Witter if I remember correctly.
Excellent summary. Disclaimer: I was a Visa employee from late 1983 to early 2009. Now happily retired.
It was one hell of a ride and the growth was nearly exponential at times.
Hope they gave you stock options
@@MrWessiide I retired about a year after we went public, and we were gifted a few shares (50, IIRC) at the time. Options may have come later - but I don't know. They did have a VERY generous 401(k) (4:1 match initially, although this did decline in later years) though.
damn that is crazy i thought you were a basketball player
Working at a newer/exploding company always sound cool
"Clout is Power"
Mastercard really stepped down their marketing in recent years.
I noticed that too 🤣
I'm surprised this is the only comment pointing this out.
I honestly never gave the difference, but I do have to give the “Priceless” commercial from MasterCard major props.
When I was a kid, I thought those commercials meant that if you bought something with a credit card it was free. (Well, sort of)
@@TheAlexSchmidt I have fond childhoold memories of mastercard commercials as well lol
I love those mastercard priceless ad too. I thought it was briliant ad
Me too.
I loved the jokes that revolved around it even more, so many pictures following the same principle but with something hilarious.
I used to tell the credit card scammers that I had a Diner's Club card. That would get them off the phone pretty quick. If not, I would give them test card numbers or just random numbers and see how long I could keep them tied up.
Hahahaha
You could also say Carte Blanche! 🤣
Kitboga would be proud.
@1 billion subscribers without a video watch the video and you'd know:)
@1 billion subscribers without a video it's the mother of charge cards.
MasterCard used to be less accepted than Visa for a while so we had to have one of each for travel. 20 years on from then, no difference at all and although we still have one of each, we use the card that has the best rewards program for our daily lives, which happens to be a MasterCard branded card.
One aspect that you should have covered as it would have seriously explained some of the market share differences is the merchant fees that cards at least, used to carry. There are some cards with rewards that had merchant fees as high as 4 and 5 percent. Up here in Canada, and in the region I live, it started resulting in offers from a lot of small or regional businesses offering cash discounts of 3%. Some chains even straight up stopped accepting ANY credit cards due to the merchant fees virtually wiping out their profit margin. In reporting that was going on in Canada, merchant fees tended to be the worst with MasterCard branded cards and in particular, cards that had rewards attached to them.
"MasterCharge" and "BankAmericard" sounds like names from an alternate reality or parallel universe.
Yeah they seem like credit card names from spiderverse lol
One sounds like master-slave relationship and the other an Imperialist trying to dominate the world by hiding its identity
I remember when everyone referred to the ATM as a Versateller machine. That's what Bank of America called it when it first came out 80s.
each era has their own naming cringe period, I can agree both sound like pre-70s thing.
The past is an alternate reality, so is the future 😎
When I was a kid, I always thought Mastercard is a more premium card than Visa because of the word "master"
crazy2242 lmao
Me too!
I never thought of it, but back when I got my first credit card at 18, I remember thinking that Mastercard sounded like a really old company. My parents had Mastercards in their bank and I thought it was for old people; I went with a newly formed bank and the VISA card looked really cool.
Rob Guevara I am not sure of my motivations but I also have ALWAYS perceived VISA as a better brand. I actually thought that the “for everything else there’s XXX” was a visa commercial (talk about brand penetration) Even to this day: my bank is switching from visa to MasterCard and my gut reaction was disappointed.
@D Zuke MasterCard predates D&D and Yu-gi-oh, so where would that come from?
"I carry clout'
They should bring that tagline back. New marketing campaign. Might appeal to the younger consumers.
I think you missed the fact that the word “VISA” also refers to a document that admits someone into a country. And since BankAmericard was expanding abroad, VISA gives it a really official sounding name.
I tried to search for an article or video that linked the two things but can't find anything, I thought Visa took it's name from the document, but can't confirm that
Exactly. Just commented the same thing.
Exactly, the name turned their international expansion into a *domestic* marketing tool for the US and other countries where it’s esrablished. It conveys the idea that, like your passport and *actual* visa, their card will give you access to exciting places around the world-the card would be accepted wherever your travels took you, so it was your “visa” to going on vacation in faraway lands without wasting as much time exchanging currencies.
@@MrSlenderman Maybe it was the other way around?
@@IONATVS especially when you can get card perks like travel points when you spend money on your Visa
"If you're wondering if you should get a Visa or MasterCard-"
*Visa ad plays*
State Farm Ad*
😂
Me: Gets Amex ad
Amex: 😎😎😎😎😎😂😂😂😂😂
I got a metal credit card ad.
HAHAHAHA visa made the play of the game
i got a mastercard ad
In the old days, stores often used little metal plates (usually aluminum, or other soft metal that could be embossed using an "Addressograph" machine) as "cards". some with raised letters and numbers (to "scan" with an carbon paper machine, That feature lasted well into the plastic card era) I remember my grandmother talking about the "credit plates" she had from different stores!
And then there is Discover, where you discover the four places that accept the card
or when you have an Amex card in the UK and you can't use it anywhere except small businesses
I agree with you that the places that accept it are more limited, but I ABSOLUTELY LOVE Discover! They're customer service is impeccable! I just wish it was accepted at more places, because I do think it's a superior card.
I dont know if it's because I live in the US, but I've never had an issue with using Discover anywhere in person or online lol
@@revildevil2000 Same here other than some small websites
@@wclifton968gameplaystutorials that's strange, my dad always had trouble getting it accepted at small businesses, but big businesses took it fine. He said it was because of Amex charging higher merchant fees or something.
“Clout is power” boy if only they knew
do you carry clout?
YINZER MOB HERE WE GO STEELERS
Hmm
Can we officially say this was the moment clout originated as a term such as it is?
yerr
This is an old video, but I just wanted to add something. I live in Argentina. And there is a very definite difference in the service between the two. Our country's economy is kind of hell. I'm not get into that. So buying outside of the country is trivial, yes, but not as much as it should be. It is a consistent experience that MasterCard never denied me doing any charges while Visa has very many times. No issues on the amount of credit or anything like that. Same conditions. So for my experience, MasterCard is defintely better over here
I live in Costa Rica and when i got my first credit card back in 2006 this was my same experience. Buy anything online with my Visa card? Rejected every.single.time. My bank then told me to change it to MC just because. I did and what do you know, every single online charge accepted. Sicne then Ive been an MC customer. I started with a 500usd limit and now I have a black MC card which I love as it gives me a lot of services in return for my business.
maldito seas estado de peronia
i hope someday i create a company that fails so hard and so quick that Company Man covers it, I'd be honored.
😆
Then it must rise again.
The rise and extreme fall of WhiteTylerPerry Co.
@@pex320 ..and (somehow) rise again
Good to have goals.
I like visa better because it's easier for me to make illegal online purchases anonymously!
yes like my mech keeb
What
use monero
@@coriae monero can be easily tracked via traffic analysis.
survey
why do you use visa: "To buy my meth!"
"clout is a master charge card"
Truly ahead of their time.
Fun fact:
here in Iraq we call every credit card "Visa"
I guess it was a wise name change after all
I mean that's the result of the change but correct. It wouldn't work if they hadn't changed it.
Well I'm guessing the usage came from the company, and it's likely even it was called something different (so long as it was still easy to say), you'd still be using their name as a generic term
What's it like in Iraq?
In the American south they call every soft drink "Coke". :)
Most countries only acept visa. Discover isnt recognized everywhere and sometimes even mastercard isnt acepted, hence why they call them all visa
Every time I see a Visa logo, there's Master Card under it. I think some people consider them to be the same company.
They might as well be the same company
So true. Most people don't know there is a difference - like seeing "Coca Cola", they see Visa and MasterCard always together so they end up thinking it's the same thing.
It would explain all the scam phone calls I get from "Visa MasterCard Services"
I was watching midway when an ad for Discover came up. They really wanna get in the big league haha
Discover actually owns Mastercard. If you look it up, you'll quickly realize that I made this up.
IT'S TIME, COMPANY MAN! Time to start a PODCAST. You will do well in that space, brother.
I like the visuals
Why not both🤷🏻♀️ haha
Well idk his visuals are very helpful there are like less than five videos total where he doesn’t say “just take a look at this chart/graph/measure of business success”
I would subscribe/follow it soooo quick
TH-cam is king don't leave
"Clout is power. Clout opens doors."
I was surprised nobody else mentioned that. Never knew that a word so big in 2020 was used back in the early 90s.
@Net Yaroze
That's interesting. But now clout doesn't work unless it's backed by lobbying dollar$
I was hoping i wasnt the only one who saw this lol
Buy your clout goggles today!
Thank you for the video! I had no idea that CC’s worked this way. Very enlightening
I'm old enough to remember when Mastercard was called Mastercharge..
I remember "BankAmericard."
Hello Boomer :3
@@smallpotatoe9487 Ahh! The good ole days. LOL
@North American TH-camr because charge cards still exist
And remember when (?) credit cards were accepted manually by laying it on a thingy then that thingy's top half was slid over it to make a carbon copy receipt for the customer and an original receipt which was kept by the business owner then mailed to the credit card company for the charge to begin and the payment made to the business owner. There was no electronic charge in the early days.
The original American Express card was conceived as a “travel charge card,” much like a traveler’s check, which allowed travelers to pay for their purchases with a signature. It was first discussed in 1946 as a competitor to the Diner’s Club card. The card was introduced in 1956 as a purple charge card, intended for travel and entertainment. A year later, American Express brought out the very first credit card made out of plastic (unlike prior cards which had been cardboard or celluloid).
5stardave I think you mean first discussed as a concept in 1946 because it could not have been discussed as a competitor for Diner’s Club then because Diner’s Club was not around in the 1940s.
No they didn't American Express didn't have credit cards for a long time. They started with charge cards.
“I CARRY CLOUT”
Clout gives you acceptance
"Clout gives you power"
"Clout opens doors..."
@@automotivetv9861
"Clout is a Master Charge® card"
Because I associate the word "clout" more with the fighting term, seeing that slogan makes MasterCard sound gangster
I like knowing I can pay my Visa bill with my Mastercard!
That's when you know you're living the dream man
Isn't that like taking out a second loan to pay back the first one? 😂
God bless credit!
I do it the other way around 😂
@@rulerofmonkeys1547 Not if you pay off your Mastercard with a Discover card. :)
For the longest time I thought master card was only for credit cards and visa was for debit cards
I thought the exact opposite. lol
Visa is for credit cards
Mastercard is for debit
Although visa is making debit cards now
@@My_Lacrimosa no they have Visa debit cards (mine is), also one of my credit cards is a Mastercard and one is Visa also
Sara Collins thats why he said they are starting to make debit cards😂
You was really dumb
"VISA, easy enough to pronounce no matter what language you spoke" -- Koreans cannot pronounce that word correctly, because there are no /v/ or /z/ sounds in Korean. It would be pronounced "Bija" in Korean.
Wouldn’t it be pronounced like “비사?”
Jazz9397 you son of a...
Languages that don't have z pronounce it as s. Yaknow. Like it's written.
I am pretty sure VISA haven’t really considered Korea in 1958 just a few years after the Korean War. But Bija wasn’t bad, sound like sth big haha.
When I traveled more internationally for work, our company always reissued our normally Mastercard company cards as Visa cards. When traveling, even in the most remote of places, if they accepted credit cards, they accepted Visas at least.
That's weird, since Discover(through an agreement with Asian companies) and *especially* MasterCard are accepted in a lot of places, even in some of the more remote region
It depends where you are, in Europe some places only take mastercard (or even worse, only takes maestro) but usually Visa and Mastercard are almost equally accepted.
I simply have both, but prefer Visa because it didn't require my PIN when i'm using Apple Pay, my mastercard require it sometimes and it annoys.
@@EudesRJ But Maestro is not a credit card and therefore is charging less to the business owner. TBF by now most places either accept all common cards or no cards at all. I would not consider Amex or Discover common in Europe, but they still are accepted by most terminals.
"The concept behind these cards dates back hundreds, if not thousands, of years."
When the United States bought the Louisiana Purchase from France, they paid with a VISA credit card
And during World War II when Nazi Panzers had to fill up with gas they used their Master Race Card!
The best part is we got tons of flight miles out of the deal and eventually traded them in for a couple trips to the moon.
Yes, most of modern finance has been done in the past...commodities future trading was done as early as the Assyrian Empire...finance complexity rose and fell along with the empires.
@@itrthho Nothing like cryptocurrency existed prior to 2008, but we didn't have the computers or cryptographic algorithms for it until the late 20th century, so that's not too bad.
@@timewave02012 Look up digicash. Cryptocurrency is existed for a while. It's blockchain that's a new technology
For me, the biggest difference between Visa & MC is that I can only use Visa at Costco.
Living on an island, where there are not as many stores to shop from as on the mainland, Costco is a go-to store for me (and many people that live on this island).
Additionally, I own a lot of shares in Visa stock as well, but not that many in MC.
He always sounds so enthusiastic, and genuinely surprised at things
NAilED IT!!!🤣
NAILED IT!!!🤣
Like korean news on TV
Literally didn't even know what the companies did. I have visa on my debit and MasterCard on my credit. Never thought about it too much
they had their own system.... but the card are depend...
It seems most banks use one provider for debit and the other for credit.
Wait your comment says it was posted 21 hours ago, but the video was posted 20 hours ago
@@UTubeTulip That's changing with a lot of fintech and Mastercard are doing some good bets supporting smaller online/virtual banks only that are actually becoming pretty big and start to challenge traditional banks, specifically within the 30 and under market. Could see Mastercard coming back on top with expensive support for small transaction companies that actually become bigger.
Then you've got investment firms offering private and retail accounts going for master card- because its more of a status things, like ooooo look at me I got credit.
End of the day, these 'glue' companies (what I call companies that operate in the background but keep a sector alive) will go for clients that have high transaction amounts.
I love how you use the old logos in the graphics despite showing several stock clips and pics showing their current ones
hotels? Trivago. For everything else, there's mastercard.
As a cards professional I claim Visa is nowhere near MasterCard as a partner - in terms of flexibility and readiness for business change. They seem to have superior R&D capabilities, but lose to MC in implementation due to layers and layers of bureaucracy and strange self-imposed limitations. Try approving an unusual design or special terms for your new product and get in approved with MC months earlier than with Visa (if Visa approves it...). Also partner fees and rules are quite complex with both companies, but Visa always seems to be much more complicated and sometimes crazy.
I'm not sure what you mean with the unusual design or special items getting approved, why would they need to approve whatever changes you sell? if you decide to sell coffee in your print shop I doubt that requires approval from the card company.
I noticed that allmost al the custom or expensive cards are mastercards. Apple's card too I believe.
This is part of why MasterCard is accepted significantly more in Singapore. I was shocked when I couldn't use my Visa anywhere in the country except for huge chain stores.
ok visa
The only thing I really know about MasterCard was their Maestro debit services that died out in the UK to Visa Debit... but I honestly don't know a whole lot about the credit side of things.
My Dad's first cards were Carte Blanche and Diner's Club. I acquired my first Debit card in 1984 when I lived in San Francisco. When I moved to Florida in 1988, the banks had no idea what a debit card was; it was not until the mid-90s that banks began to offer it.
Maybe you could do two smaller credit card companies like Discover vs American Express
Not much to say about them, except their interchange fees (especially Discover) are outrageous. Discover is upwards of 10% to the merchant, where Visa and MasterCard are only about 2%. Fees to the merchant can also vary between different processors (the companies that provide the terminals). When I was working retail, Citgo would charge a smaller credit fee at the register vs the gas pump and the same may be true in other areas. This is why some gas stations have programs to try and get you inside the store (not just to increase inside store sales). Some gas stations offer a "discount" if you pay in cash, others might have a gas card that gives you a discount.. all to save money on interchange fees.
By contract, interchange fees may not be assessed to customers and prices for cash must match prices for credit. This means retailers earn more money from you, the customer, when you purchase with cash. Retailers have been fighting for years to make the fees public, so customers will see what they are paying extra for the conveyance. These fees are also how "cash back" rewards programs to customers are paid, and it is always at the merchants expense (via even higher interchange fees).
@@TheXev That's messed up!
Discover is interesting. It was actually created by Sears during the 1980s so they didn't have to pay Visa or Mastercard and could do their own processing. They grew it fairly quickly and expanded it outside of just Sears stores. During one of their (many) bankruptcies they sold it off to pay creditors and Discover has been their own organization for a while now.
Funny how most people think American Express is a smaller company when its revenue is actually bigger than Visa and MasterCard combined.
Amex and Discover cater to higher spenders, whereas Visa and MC charge the masses. Hence why airports have entire Centurion lounges whereas a Visa Infinite has mere trip interruption insurance whose claims process is kept obscure.
The MasterCard tagline was clever as hell
Went to an Olympic Hockey game in Vancouver in 2010. I knew that any Olympic event only accepted Visa and as all I had at the time was Mastercard and a debit card I assumed I was safe as I was planning on simply getting cash out of the ATM at the arena. Nope, they had set the ATMs so all you could do was get cash advances on Visa cards. My friend that was with me was in the same situation. Sat through the whole event unable to buy a beer, food, souvenirs etc. No doubt saved myself a couple hundred bucks but not much fun. I now have Visa, Mastercard and Amex.
The main difference is what costco is willing to accept.
Haha exactly Visa all the way!
@@NMEofdaST8 I'm from Canada and they only accept Mastercard here. So I can only use credit card at costco when I'm vacationing in the states
Dan E oh really that’s interesting! Costco in the US only used to be American Express
@@retroborder Wow, today I learned the 147th reason that canadians always come to my local costco (reason 1 is milk). Also, hello from 15 minutes south of the candian border 👋
That's odd. I've never seen a store that accepts Visa not accept Mastercard or vice versa. It's always a gamble who will accept Discover or American Express.
to me, VISA rings far more “international” than Mastercard. I associate VISA with international travel.
I OFFER YOU THIS Plus Visa can also refer to an international travel document, similar to a passport
Mastercard have better Foreign Exchange rates than VISA
VISA: VISA International Service Association
Yes, it's recursive!
@@joemacdougall9205 This. I love MasterCard's rates.
@@joemacdougall9205 my bank issue VISA debit card with foreign exchange rate of 1.8%.
how's that compare to your Mastercard?
Always had mastercard, never felt like changing.
Same but with VISA.
I'm surprised to see that VISA is above MasterCard since I virtually see everywhere accept MC over VISA especially on online stores.
Man, it sounds weird to be like "Is Americard accepted here?" instead of "Is credit okay?" or whatever.
I remember as a kid in the 1960's the Diner's Club logo on hotels and certain other business buildings. When the other 2 came out, a Diner's club card holder still held more clout.
I remember a card called Carte Blanche. Never had one though. I'm not even sure who issued it.
For a long period it was Citibank, although it started off as Hilton's own charge card
In Brazil we have the horrible "elo" cards. I remember when it was launched and I received an elo card that wasn't accepted anywhere.
Try digital banks, like: NEXT or Nubank, PicPay, all these use MasterCard or VISA, and these banks are easy to get registered, and some have no anual expenses. I own a Nubank card, the bank is super intuitive.
Why hasn't Mastercard brought back the "I carry clout" slogan (4:50), missed opportunity smh
Seriously... I could see the ad campaign now. IG & YT stars getting deals out the ying-yang... but shhhh let's not give them free advertising expertise.
frr
I honestly never thought I’d find videos like these interesting, but I’m hooked. Can’t stop watching.
I remember in the early 2000s when my bank switched from a Debit Mastercard to Debit Visa. The easy thing to do would be to wait until the Debit Mastercards expired and then issue a new Debit Visa. My bank didn't wait. It caused a massive problem because the bank's internal system did not fully integrate over between the two card brands. When receiving the Visa and activating, my card would get declined all over town. Tried to use the Mastercard and same deal. This was a massive technology fail and my bank was destroyed by the local press. I got so frustrated, I just closed the account and moved to another bank.
when you close the account, do you get your money back?
When I was travelling internationally about 5 years ago, I quickly realized that it was better to have a Visa card than a Mastercard in certain parts of Europe. Visa was accepted pretty widely; Mastercard was more hit-and-miss. That's the biggest difference I see between them. Second biggest is the availability to people with bad credit. Check with anyone who has been through bankruptcy or had a difficult credit situation: I hear over and over again that these folks rebuilding credit will receive Mastercard invitations (at huge interest rates) long before getting a Visa invitation (not including Visa debit cards here). That's the second biggest difference.
I'm interested to hear where. I also crisscrossed Europe, I don't remember having issues with Mastercard, which I used almost exclusively until recent (by pure chance, not by choice).
Wherever i travel. I realized that visa is more useful. There are certain stores/shops that wont accept mastercard due to it's terminal. I never realized that some shops that carries mastercard. Would only accept local mastercard. With visa. I could use it without thinking it might get rejected. It was a nightmare. Amex . Mehh. Some stores doesnt even have a terminal or accept amex. Making both of my cards useless. Glad got my visa.
@@jane1929 while travelling you could look in to have besides your visa a prepaid MasterCard . that covers most of all the problems. I do it the opposite way but works the same. the times i couldn't use my MasterCard i could use the prepaid VISA. Amex i have to say it works well for travel points on certain airlines but that's the biggest bonus to my view.
As i live in Eastern Europe I can say that I find more place in my country where you can still pay with bitcoin then with MasterCard, MasterCard is accepted almost only in areas near airports big train stations and other tourist stuff (not always). Even when you create your bank account (I hope I spelled it right) you can chose default account with visa card or "international" MasterCard for currency exchange account. I think Visa is more popular because they started earlier to expand internationally and MasterCard failed as they even didn't invest to make payment cards popular (where visa with banks started giving free terminals to buissnes so they can accept cards payment)
Depends completely on which country you're in, and which bank you bank with. MasterCard and visa have no involvement at all about who gets offered which card. It is entirely up to the bank that is issuing the card
This was great! You should do Discover VS. American Express now.
I agree
Period
i think that amex is way under-represented. In the US at least, it seems pretty big.
Agree with this. Discover and Amex operate differently to the globule that is Visa/MasterCard. One of the surprising things I've learned zooming around the world is how many places accept American Express but not MasterCard.
Firstly Discover isn't even heard off let alone used outside of the US. Secondly Amex charge nearly double the merchant fees that Visa and Mastercard do, there is NO benefit for the business to ever accept Amex. In many outlets here in Australia some will even charge you a fee to pay with Amex.
3:30 so cool, I'm from Fremont, CA - I live on Mowry Av.!!! WOWOWOWOW
Discover is underrated. Visa is popular because it's tied to most banks. You're right, my bank card(s) all say "Visa" on them, but I pretty much ignore that, and think of them as my bank cards. Discover on the other hand, is the only real "credit card" I actually use. Everything else is labeled Visa, but is tied to money I already have. I like the perks of Discover better, as long as I pay off the balance before the end of the billing cycle.
The word "Visa" sounds softer to my ear. 🎶VISA🎶
The word "Mastercard" sounds more dominant to my ear. 😰
somebody will come 3rd in a 2 horse race.
Norma Jean Caballero as another viewer commented, the name MasterCard reminds you that you are their slave.
I'd think MasterCard came from "master key" 🔑
The dislikes are form people who use Rupay cards who got their cards declined at 90% of the places they visited
😂😂😂
@Golden Life Gaming
Rupay Card is Domestic not International.
You should understand the Difference first.
@@amitbiswas2002 u should understand a joke first
🤪
😂😂😂
I bought the Visa IPO and have done well. I live in Fresno where B of A had the first trial run for the credit card
That’s awesome
The song "16 Tons" now makes so much more sense after watching this video
I've worked in the payment industry for several years. Let me tell you, Visa and MasterCard are ingenious. They became household names and mega-cap companies and 99% of people couldn't tell you how they generate revenue.
interchange fees
I usually associate Mastercard with more prestigious banks and visa with everyday banks.
It's also kinda like that in my country
Private banks issue MasterCard for debit and smaller banks and government owned issues VISA
Visa is actually on the most prestigious cards.
@@reeeec hello which do you have
@@jameson1761 why ask lmao?
I never had that impression. My bank lets you choose Visa or MasterCard for the exact same card. I chose Visa simply because it’s less of a mouthful
A great exchange from Futurama:
Fry: “Do you take MasterCard?”
Waiter: “Sir, MasterCard hasn’t existed for 500 years.”
Fry: “Visa?”
Waiter: “600 years.”
Fry: “Discover Card?”
Waiter: “Oh, I’m sorry, we don’t take Discover Card.”
😊
Laptop: $450
Internet: $50/month
Watching Company Man , Priceless.
For everything else, Online.
It is oddly comforting and quality assurance to see that little "Visa" or "Master Card" label on my cards.
The ATM on 0:50 is from Ukraine because there's a text КАРТКА, which stands for card.
Visa even charges the bank for the cost of the plastic for the cards, lol.
"MasterCard" at least acknowledges that you're the slave.
Not if you know what you're doing. All you have to do is get a card with no annual fees, good cashback, etc. & pay in full every month and you're good to go.
@@egarcia1360 Nonono too sensible... You should always accumulate credit card debt and then go "big bank fucked me!!"
@NCR Trooper these banks and their expectations for me to repay them what I owe 😡😡😡😡
I'm doing better than I deserve without a credit card
I am in love with this comment section!
I was changing cards with my bank the other day, and the lady asked, "Would you prefer Visa or Mastercard?" and I had no idea if I did or didn't. I just went with Visa b/c it's what I've always had with that bank. Another of my cards is MasterCard. I honestly didn't think there was a difference and this video supports that.
I started with Mastercard...switched banks when I bought my house and switched to Visa. My wife has a Mastercard so we are covered regardless.
Sir, I have a visa card. Do you happen to know a girl holding a MasterCard by any chance? I am trying to get the level of stability you have established there, but everyone I know keeps using the darn bitcoin.
Bitcoin isn’t that stable and in most stores you can’t buy anything with bitcoin.
Been A FAT MINUTE since I've been this early to a Company Man video, love this channel and it's consistency
Ahh yes the obese 60 second interval
Here in Europe especially in Germany I noticed that MasterCard (Meastro) is more often to be accepted than Visa. That’s why you won’t have a choice, the most of the banks here will give you a MasterCard (Maestro)
Huh I never had a problem using my Visa in Germany, with two exceptions: 1) Places that only took cash and 2) a Vietnamese restaurant where they said they accepted card but when it came time to pay apparently they only accepted [card I had never heard of].
Petra狐 If it was in Germany they probably only accepted GiroCard (sometimes called EC-Karte) wich is a German exclusive debit card system. Most German banks give their customers a girocard as their standard banking card. Most girocards are co-brandet with either maestro or V-Pay for international use.
@@anton95rct Maybe my problem was that I spoke German and she thought I was an immigrant and not a tourist then 😂 Or maybe she just didn't care considering the ATM was literally 10 meters from the restaurant. After I wrote my comment I realized that I have a Visa debit card, and the video talked about credit cards. Not sure if it makes a difference.
Petra狐 if the Restaurant only accepted a card you never heard of it very likely was a GiroCard. It is still quite common to find places that only accept GiroCard and no other cards here.
Visa Credit or Debit Card doesn’t matter to the card terminal. If it supports Visa it supports both Credit and Debit Cards.
@@anton95rct Canada has our own girocard system and it's called Interac.
Enjoying this while queuing for covid19 drive through test.
Kupi iweka
3:26 gonna buy so much V-bucks with this
Also in financial technology space, I’d love to see PayPal vs. Square!
PayPal-Venmo vs Square
@@magictrick8833 PayPal owns venmo
Very interesting learning about the history of those two!
I remember a few years back, a lot of businesses wouldn’t accept visa any longer (mostly grocery stores) because their transaction fee or something was too much. That push convinced me to get my first card which was a MasterCard, because I wanted a card that was accepted in most places and wouldn’t carry any sort of exclusive cost or inconvenience. Other than that, I can’t think of many differences. In my mind as a consumer, visa gives me an image of complexity and it being premium. A lot of the higher benefit cards are Visas. Meanwhile MasterCard seems more simple and honest in a way. That could just be up to what banks they associate with but I do see a bit of a difference between them.
That probably why costco in Canada uses Master Card 🤔
Weird, from the UK and we had the opposite, with MasterCard being refused, and Visa being preferred.
After 1 year VISA vs MasterCard are really having an EPIC battle! Do your research and notice the different sticker at the different stores and also the different machines that accept the cards. It's an epic battle of transactional financial services going on! Good Luck
Great video! I wish you’d touched a little on the difference between MasterCard, Maestro & Cirrus
This is a good question, and from what I understand it's this:
MasterCard is the credit arm of MasterCard. If you pay with signature or do "offline" transactions, MasterCard is the network.
Maestro is the debit arm of MasterCard. If you pay with pin (i.e. select "Debit" at checkout), Maestro is the network that communicates this with the member bank.
Cirrus isn't a card as much as it's an entity. It's an interbank ATM network, meaning that banks join the Cirrus Network and can perform ATM related functions through this network. MasterCard and Maestro both use the Cirrus network to perform transactions with member banks.
Same with VISA and PLUS.
@@adamsfusion the funny thing is most debit cards are MasterCard and not Maestro. I guess it's so that to allow online payments.
Also, both MasterCard and Maestro are PIN cards. Well, I'm speaking for Europe here.
@@adamsfusion maestro is being phased out for debit cards in Europe, at least, and being replaced by MasterCard debit.
I’d like to see a livestream where you just collect stock photos for a video
This was really cool!
Thanks so much for this man. I feel like i've commented "Visa Vs Mastercard!" on nearly every one of your videos, lol.
Well, From my personal experience I recommend you to have both. Sometimes you will get that very sweet deal or even a free shipping but it always work on one of them.
When I was a kid I always thought that you needed a Visa Card to enter other countries. Now that is marketing!
Could you do a video on American Express? They have an interesting history and started off as a shipping company that sent stuff on trains (I believe)
*IRONIC!* this was reccommended... i just paid off *8* credit cards this week! Yes! 8 .....
Im 36.... i dug myself out of credit card debt at age 23, 28, and now 36 *NEVER AGAIN!*
Congrats!
also at 42 and NEVER AGAIN!
@@AkumaNoKuma ☺!
I have 8 paid off 2.whew
I know my parents have both kinds, pretty sure a lot of others do too.
Homer Simpson uses Mastercard, although he's tired of the Priceless narrator
Again, I found you
You’re Right. I am tired of that narrator & am a MasterCard holder
"Cono", Avery! You do remember the ad and Homer will rant at EVERYONE (check the recent Disney+ ad with all the family being pushed in YT).
In my country, Visa credit cards have more dining and entertainment deals/privileges, while Mastercard has a lot of shopping tie-up deals.
The difference between MasterCard and VISA is mainly in acceptance. In some countries, one of them may be more accepted than the other. Personally I’d go far MasterCard as that’s the first debit card I ever had and had no issues so far. What I’d recommend to do is looking up whether a certain card is declined in things like online purchases more often or not.
I think we can all agree that the MasterCard logo looks nicer. Especially the new one.
It definitely looks cleaner and simpler, but it is still lazy. Even reading up on the logo doesn’t change my perception that a company used a Venn Diagram for a logo.
@@MichaelRockfez Personally, I think Amex has the coolest logo but after a while, a logo should be the least of your concerns when you plan to get a credit card.
Lazy or not, I dont think it is a big deal, get the card that gives you the best deal.
MasterCard is the card master, it’s in the name
johnny smit 😂 🤣
in true kore we call it supreme leader card
Norf Kawea numba 1!!!!!
You are right. Their availability and services are similar.. Here in Pakistan whereever the visa card is accepted the mastercard is also accepted. One thing I have noticed .. Most of Pakistani Banks offer visa cards however fewer Pakistani banks offer mastercards.
They're pretty much the same. Make you feel warm and fuzzy inside until you can't pay your bill. Then they F%^& you LOL
interest.... best just set limit for the card and once you hit the limited you just used cash.... never worry about the points... since it don't do much..
campkira i don’t use a credit anymore. I learned that lesson years ago.
Especially AmEx. I had my Discover card for years and never had to pay over a $75 monthly payment. After my AmEx promotional offer was over I easily paid over $150 at the most.
It's my own fault for not paying the balance in full when it was small. Currently, I'm putting out these credit card balance flames. And thanks to Corona I don't use my cards as much anymore so I can finally continue to pay these off.
They are definitely like a psycho girlfriend in that regard.
🤣😂
I used to like master card for the fact that the principal in the show A.N.T Farm had one. It was said in one obscure episode from a long time ago.