What is the difference between Visa,Maestro Master cards and Rupay?
All of us have seen logos of Visa ,maestro,master cards,but the Difference between Visa,Maestro Master cards and Rupay cards is clearly explained
Visa and Maestro and Master Cards are cards that have been widely accepted througout the world.as paperless money, which helps in cashless transactions.
Visa cards has more worldwide reach over the Master cards and maestro and Rupay cards.
– The Visa cards come with a feature that gives a better protection to the customers who use it. Maestro cards do not come with charge back rights, which means that the
customers have no protection if a service or goods purchased fail.
-Visa cards originated in 1958 as a BankAmericard.
-MasterCard. It was originally called as MasterCharge which was developed by a group
of California banks as an entrant to the BankAmericard.
-The Maestro cards, which can be obtained from associate banks can be linked with a
card holder’s current account.
-Visa has evolved into a transaction and a technology-processing firm allowing other financial services and banks to issue cards with its brand logo.
Maestro is owned by MasterCard and is their main debit card brand in Europe and some other countries.
It is the MasterCard equivalent of Visa Electron.
- Maestro is used 12 million customers.
- till 2009, Visa is was used by 30 million merchants in 170 countries.
- MasterCard was used 28 million merchants in 210 countries.
Advantage of Visa Cards
MasterCard has better worldwide acceptance than Visa, but Visa has better acceptance in the USA.
The main reason that Maestro has only 12 million merchants is that support in the USA is weak. There are lots of reasons for this, but it comes down to MasterCard focusing on Europe and
International due to differences in the PIN debit networks between the USA and the rest of the world.and also security features in Visa.
Visa comes in 128 bit encryption during mode of payment.
But till now Most of the banks replaced their maestro and mastercards by Visa cards as it is being globally accepted and better security features.
Rupay cards are only use in India ,not widely accepted as other cards and are owned by Reserve bank of India,and were started during the Make in India Programme by PM Narendra Modi.
Rupay cards are not supported by many websites for mode of payment.