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Mastercard

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description Mastercard Overview

Mastercard is a multinational financial services corporation that operates global payment processing systems and networks facilitating electronic funds transfers between banks and merchants worldwide.

help Mastercard FAQ

What does Mastercard actually do?

Mastercard operates payment-processing networks that help move transaction information between merchants, acquiring banks, and card-issuing institutions. It is a financial-services network rather than the merchant that sells the product.

Is Mastercard a bank?

Mastercard is a multinational financial-services corporation, but it generally does not act as the consumer's card-issuing bank. Banks and fintech companies issue Mastercard-branded cards while Mastercard operates the network.

When was Mastercard founded?

The network began in 1966 as the Interbank Card Association. The Mastercard name was adopted later, in 1979.

Is Mastercard the same company as Visa?

No, Mastercard and Visa are separate payment-network companies. Both connect merchants, banks, and cardholders, but a Mastercard transaction runs through Mastercard's network rather than Visa's.

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