The difference between UnionPay, VISA and MasterCard in credit card

Differences: Unionpay vs Visa vs Mastercard

When applying for a credit card, did you notice that there are three different logos of UnionPay, VISA and MasterCard on the card surface of the credit card? In fact, UnionPay, VISA, and MasterCard represent different network credit card organizations respectively. Visa and MasterCard (MasterCard) are the two largest international credit card organizations, and UnionPay is a multinational joint-stock financial services organization.

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Visa and MasterCard are two international credit card organizations. There are two major international organizations (VISA International) and MasterCard International Organization (MasterCard International) and American Express International Co., Ltd. (America Express), Three professional credit card companies (Diners Club), JCB Japan International Credit card Company (JCB).

(1) Visa International International

Visa International is currently the largest organization of credit and traveler's cheques in the world. It was formerly the Bank of America credit card company established in 1900. In 1974, the Bank of America credit card company, in cooperation with some commercial banks in Western countries, established an international credit card service company, and in 1977 formally changed to Visa International to become a global credit card organization. Visa, ELECTRON, interlink, plus and Visa cash are trademarks of the international Organization. The visa-branded credit card is issued by a member (mainly a bank) who participates in the International organization of Wizards. At present, there are about 22,000 members, more than 1 billion card issuers, more than 2000多万家, network ATM machine about 660,000 units.

(2) MasterCard International Organization (MasterCard International)

MasterCard International is the second largest international credit card organization in the world. In 1966, a number of California banks established the Bank Card Association (Interbank Card Association) and, in 1970, enabled the name and logo of master charge, unifying the name and design of credit cards issued by member banks, 1978 was renamed the present MasterCard again. MasterCard International has MasterCard, Maestro, Mondex, Cirrus and other brand names. MasterCard International does not issue a direct card, and the MasterCard brand credit card is issued by a member of the financial institution participating in the MasterCard International organization. Currently, it has a membership of about 20,000, with more than 2100多万家 merchants and ATM machines.

Note: China's major commercial banks have joined the two international credit card organizations.

(3) UnionPay

UnionPay was approved by the People's Bank of China, by more than 80 domestic financial institutions jointly launched a joint-stock financial services institutions, registered capital of 1.65 billion yuan. The company was established on March 26, 2002, headquartered in Shanghai. UnionPay adopts advanced information technology and modern company operating mechanism, establishes and operates extensive and efficient bank card cross-line information exchange Network system, formulates unified Business Standard and technical standard, realizes the joint development of high efficiency bank card cross-line common and business, and promotes the popularization of UnionPay card, actively improves the accepting environment, To promote the rapid development of China's bank card industry, the establishment of the UnionPay brand to become the major international bank card brand, to achieve "where the Chinese people go, where UnionPay card."

Suppose you apply for renminbi single currency card, there will not be two signs, the general domestic bank issued credit card dual currency card, either UnionPay/MasterCard, or UnionPay/visa card, if you need to spend abroad, you have to choose a few years, MasterCard and Visa these two organizations are working with domestic banks, The credit cards of the two organizations abroad are not the same.

References from:

Http://www.cardbaobao.com/cardnews/cardnews_7579.shtml

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