Difference between Visa and MasterCard?

 It is holiday’s time. A lot of people are traveling abroad. Every tourist has a question: “How to keep my money in safe?” The best way is to have a bank card. The best advantage of cards is that you do not need to carry cash. By the way it`s not necessary to declare your money in customs house. Today using Visa or MasterCard cards, you can easily pay for goods and services in almost every part of our planet. So what kind of card or payment system is better? What is the difference between them?A lot of people are sure that Visa it is American payment system, and MasterCard it is European. However, this opinion is erroneous. Visa and MasterCard are both international payment systems. It is easy to check, all you need just to find it`s full name: ”Visa International Service Association and MasterCard Worldwide”.The main idea isn`t in names. The main difference is in currency, which this organizations use. All currency conversion is based on United Stated dollar. So all conversion operations will be done with dollar. For MasterCard major currency is American dollar and European euro both the same. So, operations are not connected only with US dollar.Let`s imagine few situations for example:Your bank account is in UAH RUB. You are in Europe. All payments are in euro.
Visa conversation will be UAHRUB > USD > EUR.
MasterCard conversation will be UAHRUB > EUR.
As a conclusion MasterCard is more profitable, because exchange is straight.Your account in euros. You are in Europe. Payment is in euros.Visa conversion: EUR > USD > EURMasterCard: EUR
                As you see, MasterCard is better. There is no any conversation. In situation with Visa, it will be more expensive, because of double conversion. By the way, a conversion the first time will be done by the payment system and the second time by your bank.Your account in dollars. You are in the USA. Payment for purchase is in US dollars.Visa: USDMasterCard: USD> EUR> USDThere is no conversion in Visa, but using MasterCard, you lose some money.Your account in UAH / RUB. You are in Sweden. Payment for purchase is in SEK (Sweden is not part of the euro zone).Visa: RUB> USD> EUR> SEK and RUB> USD> SEKMasterCard: RUB> EUR> SEKAs we see, MasterCard has double conversion. Visa may have 2-3 conversion. The reason is that all operations in Europe will be done with euro, so it is available triple conversion.So as conclusion, to all article in Europe the best way to safe your money is to use MasterCard, in USA – Visa. 

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