Bank payment cards MasterCard

But it is only gaining momentum and is not yet popular. People choose MasterCard cards for their convenience, security and favorable terms of service. MasterCard in Russia is one of the best payment systems. In this article, you will learn how it differs from other systems, as well as its advantages and disadvantages.

History of the payment system

The idea of ​​MasterCard cards originates in the 1940s, when no cards existed yet. Banks issued securities that could be paid in special warehouses. In essence, these papers were a monetary obligation that replaced real money. Nowadays, the essence of the system has changed somewhat, but the basic idea - MasterCard affects the need to carry real money with you - has remained the same.

In 1966, several major US banks created an association called the Interbank Card Association, which laid the foundation for modern MasterCard cards. Since 1968, the system began cooperation with the Eurocard payment system. The company name "MasterCard" appeared only in 1979, and by 1980 more than 55 million cards had been issued.

MasterCard now works all over the world, but it wasn't always like that. Until the 1980s, the system was used primarily in the United States. Only after that MasterCard began its expansion around the world. MasterCard cards reached the USSR only in 1988 and made a splash, although they were not very popular.

The payment system is owned by MasterCard International Incorporated. The main office is located in New York. At the moment, the system has almost 1 million service points and covers all continents of the world and operates in 210 countries. The payment system processes up to 140 million transactions per hour, which allows processing more than 23 billion transactions annually.

The current management of the company boldly looks into the future. The company regularly holds conferences where it shares its vision of the future. MasterCard acts as a locomotive among all payment systems, if we consider the issue of introducing new technologies. Even Apple Pay in Russia initially started working with MasterCard cards, and only then with Visa cards. The MasterCard payment system is pursuing a strategy of completely abandoning the usual cards and switching to new technologies. For example, on chips in devices or even on confirmation of payments by fingerprint. Agree, you always have your phone with you, but you don’t need to talk about the convenience of fingerprints.

MasterCard in Russia

Russia is fully connected to the technologies of the MasterCard payment system. Some of the banks do not provide customers with the right to choose a card by automatically issuing MasterCard or Visa cards, but there are no restrictions on the distribution of MasterCard in Russia.

Most Russian banks that work with plastic cards work with MasterCard cards. You can pay by card in most places that accept cards. To do this, just find the following icons on the terminal:

MasterCard accounts for 38.5% of all cards in Russia. The main office of the Russian division is located in Moscow in the business center "Legend" at Tsvetnoy Boulevard, 2. To contact the company, you can use the official website or call the hotline in Russian: 8 800 555-02-69.

How the payment system works

Cards are used as a tool for quick access to money in the bank. Money can be either own or borrowed. A card with access to own money is called a debit card, and a card with borrowed media is called a credit card. You need to contact one of the banks that works with this payment system if you want to get a card. For example, you can contact VTB Bank, Sberbank, Alfa Bank and other Russian banks.

Types of cards

One of the most popular cards in Russia is MasterCard Standard. Many consider this card to be the initial one, but there is also a simpler card in the MasterCard system - Maestro.

MasterCard Standard is the "initial" among those cards of the MasterCard system that are suitable for daily full-fledged use and offer universal possibilities. The card allows:

• Pay in all stores where there is a MasterCard logo;
• Pay for purchases online;
• Withdraw money from ATMs around the world;

All of these features meet the needs of most customers. But there are other cards in the system - higher or lower class. The simplest MasterCard is Maestro. Some mistakenly attribute it to an independent type of payment systems, as they see the MasterCard logo and the Maestro logo separately on ATMs and payment points.

But this initial card belongs entirely to the MasterCard payment system. This separation was made on purpose, as Maestro cards are different from all other MasterCard cards. These cards are subject to the following restrictions:

• There is no name and surname of the owner on the card;
• Does not support all payments;
• Does not work in all ATMs;

Why connect such a "defective card"? Using the Sberbank Maestro Momentum card as an example, we will analyze the advantages of Maestro initial cards versus MasterCard Standard cards:

As a rule, MasterCard Maestro cards are ordered by those who do not plan to use a bank card often. These cards can be a convenient way to receive a scholarship and withdraw it from an ATM. Often these cards are opened to a bank account just for the sake of having convenient quick access to your money or access to the Internet bank.

For example, thanks to a similar Sberbank card called Maestro Momentum, you do not have to wait 7-10 days for the card to arrive. You can get a card at a bank branch and start using it on the same day.

There are cards of a higher level, these include MasterCard Gold and MasterCard Platinum. Such cards have higher limits, as well as additional benefits. As a rule, such cards are characterized by expensive service or high requirements for free service. Let's analyze MasterCard Standard/Gold/Platinum cards using the example of an offer from Alfa Bank. Initial cards (MasterCard Standard) offer their holder the following benefits:

MasterCard Gold cards provide the following benefits:

If you need even more features, then you need a MasterCard Platinum card. It has the following benefits:

You need to decide on your requirements for the card, as well as your capabilities in order to choose the right card. All three cards support 3D-Secure technology. This technology significantly increases the security of paying for purchases over the Internet. You can order both a contactless card (PayPass) and a classic one, where you need to enter a pin code for any purchase. For you access cards with a chip and a magnetic stripe. Cards differ not only in their capabilities, but also significantly differ in the cost of maintenance:

MasterCard Standard cards include the very minimum of necessary services. You can buy the missing services, but you cannot increase the limits. A similar scheme applies to cards in other banks. Premium card holders can expect personalized service as well as additional benefits.

Some banks provide the following privileges for high-level cards:

• Free withdrawal, including in another country;
• Currency conversion at a preferential rate;
• Separate support telephone line;
• Personal assistant services;
• Lounges at the Priority Pass airport;

There are other types of cards, for example, MasterCard World or Virtual. Both products are highly specialized. MasterCard World also belongs to premium segment cards. Their main feature is that the cardholder has permanent travel insurance. MasterCard Virtual cards are issued in virtual form.

This is the perfect choice for those who use the card to make purchases online. The advantage of a virtual card is also in the speed of its issuance - a few mouse clicks are enough.

Advantages and disadvantages

You will not feel much difference between MasterCard and Visa cards if you use the card only in Russia. In this case, the difference may be in the conditions for servicing the card, but it depends on the bank that issued the card. MasterCard is more beneficial if you use the card when traveling to countries where euros are used. We talked about the benefits of a MasterCard card for travel in this article.

The features of the bank that issued it are added to the advantages and disadvantages of the card. We recommend that you focus on the current terms and conditions of the card. MasterCard are modern bank cards that support all popular technologies. This includes making payments using your phone, such as Apple Pay or Samsung Pay.

MasterCard cards have all the disadvantages that are inherent in all bank cards. If your card details are compromised, then you cannot do without reissuing the card. It is still necessary to wait up to 10 days for the bank to issue the card, if it is not about instant or virtual cards.

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