description Visa-Mastercard rivalry Overview
The Visa-Mastercard rivalry is the long-running competition between Visa and Mastercard, two United States-based companies that operate global electronic payment networks. Neither company generally issues cards or extends consumer credit directly; banks and other financial institutions issue the cards, while the networks authorize, clear, and settle transactions. They compete for issuing banks, merchants, transaction volume, technology partnerships, and consumer use across credit, debit, and prepaid payments.
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