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MasterCard vs. Visa vs. RuPay: Which Credit Card is Better
Posted on Thursday, July 25th, 2024 | By IndusInd Bank
Choosing the right credit card can be tricky, given the myriad options available. In this blog, we will compare MasterCard, Visa, and RuPay. These payment networks facilitate payments to banks worldwide, and their core functionality is similar across the board, differing primarily in their gateway networks. While Visa, MasterCard, and American Express are American companies, India has its own payment network, RuPay. RuPay is a domestic payment network operating within India but also enables international transactions.
In this blog, we’ll explore the differences between MasterCard, Visa, and RuPay, helping you decide which credit card is better suited for you.
Visa Credit Card
A Visa card is the most popular payment card, with a 60% market share that is accepted in many regions. It uses the Visa network to handle transactions. Visa cards can be credit, debit, prepaid, or gift cards. Banks usually issue them in collaboration with Visa.
MasterCard Credit Card
Member banks issue MasterCard cards with the MasterCard logo. They’re known as ‘open loop’ cards, meaning they can be used wherever MasterCard is accepted. In the payments industry, there are four main card processors: MasterCard, Visa, American Express, and Discover. MasterCard has the second-largest market share at 30%.
RuPay Credit Card
RuPay Credit Card is the global card payment network of India. Developed by the National Payments Corporation of India (NPCI), it offers credit, debit, prepaid, and government scheme cards. With the increase in popularity of UPI, RuPay has developed a feature to link its credit cards with UPI.
Also Read: Benefits of a credit card over a debit card in India
The table shared below summarises the RuPay vs MasterCard vs Visa credit card comparison in terms of acceptance, types of cards, and benefits.
| Attributes | RuPay | Visa | MasterCard |
| Countries Accepted in | 5 countries – Bhutan, Nepal, Mauritius, Singapore, UAE | Over 200 countries and territories | Over 210 countries and territories |
| Operating Cost | Lower service charges (India) | Moderate service charges | Moderate service charges |
| Bank Fees | None for joining the network | For joining foreign networks, there is a quarterly fee | For joining foreign networks, there is a quarterly fee |
| Data Processing | Processing and verification happen in India | Processing happens overseas | Processing happens overseas |
| Security | Better security in India, lesser chances of data theft | International processing may pose higher risk | International processing may pose higher risk |
Emergency Services Rendered – H2
The following table outlines the emergency services provided by the three providers, including assistance for lost or stolen cards, fraud protection, and emergency assistance.
| Emergency Services | RuPay | Visa | MasterCard |
| Lost or Stolen Cards | Assistance for reporting lost or stolen cards and emergency card replacement | Assistance for reporting lost or stolen cards and emergency card replacement | Assistance for reporting lost or stolen cards and emergency card replacement |
| Emergency Assistance | Offers assistance for lost baggage, medical evacuation or hospital admission etc. | Offers emergency services while travelling, like travel accident insurance, emergency medical reimbursement, and more | Provides emergency assistance services such as cell phone and ID theft protection |
Also Read: A Comprehensive Guide To Understanding Credit Cards
Conclusion
In conclusion, all three, RuPay, Visa, and MasterCard, have some of the best credit cards for their customers that offer extensive benefits and wide acceptance globally. The choice between them depends on individual preferences and needs. Understanding their features and benefits can help you select the credit card that best suits your lifestyle and financial goals. Explore some of the best IndusInd Bank credit cards here, and apply now for a credit card today!
FAQs
- Which of the three card providers is the most accepted? – H3
Ans: According to the numbers claimed by the companies, MasterCard is the most accepted (210 countries)
- Do these providers issue the cards themselves? – H3
Ans: No. These cards are provided through partner banks and financial institutions.
- Do these providers offer debit cards or credit cards? – H3
Ans: All three offer both, debit and credit cards, along with other card options as well.
Disclaimer:
The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
