Visa vs Mastercard: What's the difference?

Most of the credit cards and debit cards you see in Australia have a Visa or Mastercard logo on them. These companies are 2 major international card payment networks and both are accepted almost everywhere in Australia and worldwide.

Visa vs Mastercard: What you need to know

Acceptance and contactless payments: Both Visa and Mastercard are accepted in over 200 countries. Visa allows contactless payments up to $100 without a PIN, while Mastercard allows up to $200.
Bank influence: The issuing bank influences many features, fees, and rewards for both Visa and Mastercard, so consider this when comparing options.
Security and online shopping: Both offer 24/7 customer support for lost or stolen cards and additional security layers for online shopping (Visa Secure for Visa, Mastercard SecureCode for Mastercard).

So, what's the difference between Visa and Mastercard? For everyday spending, the short answer is "not much", because your credit card features are largely set by the bank. But Visa and Mastercard do have specific features that set them apart, so let's take a look at what they offer.

What's the difference between Visa and Mastercard?

We've broken down things such as acceptance, contactless payment technology and extra perks to help you decide whether a Visa or a Mastercard is right for you.

Feature	Visa	Mastercard
Acceptance	200+ countries	200+ countries
Contactless payments	Visa payWave can be used to make contactless payments without needing a PIN if you spend up to $100.	Mastercard contactless lets you tap to pay for transactions without needing a PIN if you spend up to $200.
Exclusive offers	Visa Offers + Perks gives cardholders access to exclusive discounts with partnered brands, pre-sale concert tickets, travel and dining deals.	Mastercard Priceless Cities offers discounts and perks on hotels, shopping, dining, entertainment and more around the world.
Premium cards	Visa Platinum and Signature cards give you access to Visa Premium, with perks including concierge services, hotel offers and Visa Front Line Access for pre-sale concert tickets.	Platinum and World Mastercard products are linked with Mastercard Priceless Cities, airport lounge access through Mastercard Airport Experience and other perks.
Security	You can contact the Visa customer support team 24/7 to report a lost or stolen card, request emergency cash or card or block your card.	If your card is lost or stolen and you require emergency cash or card replacement, you can contact Mastercard Global Services 24/7.
Online shopping security	Visa Secure (formerly Verified by Visa) adds an authentication step to online purchases to help protect you from fraud.	Mastercard SecureCode is an additional layer of security that protects cardholders from fraudulent transactions online.
Virtual card options?	Yes, including with mobile wallets (depending on the bank or provider).	Yes, including with mobile wallets (depending on the bank or provider).
Sustainability highlights	Commitment to net zero carbon emissions by 2040 Carbon-neutral operations Visa and CPI Card Group produced a payment card made of up to 98% upcycled materials (Earthwise)	Net zero goal by 2040 Commitment to planting 100 million trees by 2025 through the Priceless Planet Coalition Sustainable cards program with more than 60 financial institutions involved
Market share	60% of the global credit and debit card market (according to a Reuters report in 2020).	30% of the global credit and debit card market (according to a Reuters report in 2020).

Looking at these features side-by-side shows that you'll get very similar card acceptance, contactless payments, exclusive offers, premium perks and security for in-person or online shipping.

Both also have comparable sustainability initiatives, although it's worth taking a closer look at Visa and Mastercard initiatives if this is priority for you.

A key difference between Visa and Mastercard is the global market share. But Reserve Bank of Australia data shows that around 92% of all credit card and charge card transactions in Australia are made with Visa and Mastercard, and make up around 84% of all transactions by value. So the overall market share doesn't typically have a noticeable impact when you're paying by card.

Which is better between Visa and Mastercard?

Most of the time, you won't really notice a difference between paying with a Visa or Mastercard. If there are company features that you care about such as sustainability goals, that can factor into your decision.

But usually, you can focus on credit card features that you want and costs that are affordable for you – factors that come down to the bank or provider.

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Name	Purchase rate p.a.	Annual fee	Balance transfer rate p.a.	Amount Saved
St.George Vertigo Card	Purchase rate p.a. 13.99%	Annual fee $55	Balance transfer rate p.a. 0% for 24 months with 1% balance transfer fee, then 21.99%	Amount saved $1,551.89 over 24 months	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for 24 months (with a one-time 1% balance transfer fee).
Kogan Money Card – Exclusive Offer Exclusive Kogan Rewards Program	Purchase rate p.a. 9.99% for 18 months, then 21.99%	Annual fee $0	Balance transfer rate p.a. 0% for 18 months with 1% balance transfer fee, then 22.74%	Amount saved $1,285.99 over 18 months	Go to site More Info Compare	Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
NAB Low Rate Credit Card	Purchase rate p.a. 13.49%	Annual fee $59	Balance transfer rate p.a. 0% for 24 months with 3% balance transfer fee, then 21.74%	Amount saved $1,443.89 over 24 months	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for the first 24 months (with a 3% BT fee).
ANZ Platinum Credit Card	Purchase rate p.a. 20.99%	Annual fee $0 first year ($87 after)	Balance transfer rate p.a. 21.99%		More Info Compare	Get $300 back on your card when you spend $1,500 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
Virgin Money Anytime Rewards Credit Card Virgin Money Rewards	Purchase rate p.a. 19.99%	Annual fee $149	Balance transfer rate p.a. 0% for 12 months with 0% balance transfer fee, then 20.99%	Amount saved $778.32 over 12 months	More Info Compare	Offers 80,000 bonus Virgin Money Points (worth $400 in gift cards) when you spend $3,000 or more on eligible purchases in the first 3 months.
ANZ Rewards Black Credit Card Finder Award ANZ Rewards Program	Purchase rate p.a. 20.99%	Annual fee $375	Balance transfer rate p.a. 21.99%		Go to site More Info Compare	Get 180,000 bonus ANZ Reward Points (worth $800+ in digital gift cards) and $150 back when you spend $3,000 in the first 3 months.
NAB Rewards Platinum Card NAB Rewards	Purchase rate p.a. 20.99%	Annual fee $45 first year ($195 after)	Balance transfer rate p.a. 0% for 12 months with 3% balance transfer fee, then 21.74%	Amount saved $732.32 over 12 months	Go to site More Info Compare	Get up to 100,000 bonus NAB Rewards Points (worth $480 in eGift cards): 80,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer Finder Award Velocity Frequent Flyer	Purchase rate p.a. 20.74%	Annual fee $149	Balance transfer rate p.a. 0% for 24 months with 1% balance transfer fee, then 20.99%	Amount saved $1,363.89 over 24 months	More Info Compare	Get 0% p.a. on balance transfers for 24 months (with 1% BT fee) and $129 Virgin Australia Gift Voucher.
Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer Virgin Money Rewards	Purchase rate p.a. 19.99%	Annual fee $149	Balance transfer rate p.a. 0% for 24 months with 1% balance transfer fee, then 20.99%	Amount saved $1,363.89 over 24 months	Go to site More Info Compare	Save with a 0% balance transfer offer for 24 months (with a one-time 1% BT fee).
Virgin Money Low Rate Credit Card	Purchase rate p.a. 12.99%	Annual fee $99	Balance transfer rate p.a. 0% for 15 months with 3% balance transfer fee, then 21.69%	Amount saved $787.92 over 15 months	More Info Compare	Offers 0% p.a. for 15 months on balance transfers, with a one-time 3% balance transfer fee.

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Name	Purchase rate p.a.	Bonus points	Points per $ spent	Interest-free period	Balance transfer rate p.a.	Annual fee
Westpac Low Rate Card	Purchase rate p.a. 13.74%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 26 months with 2% balance transfer fee, then 21.99%	Annual fee $59	Go to site More Info Compare	Save with a 0% p.a. interest rate on balance transfers for 26 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.
Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 20.99%	Bonus points 80,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%	Annual fee $349 first year ($399 after)	Go to site More Info Compare	Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
Citi Clear Card - Balance Transfer Offer	Purchase rate p.a. 14.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 28 months with 3% balance transfer fee, then 22.24%	Annual fee $99	More Info Compare	Offers 0% p.a. on balance transfers for 28 months with a one-time 3% balance transfer fee. Plus, complimentary insurance covers.
Citi Rewards Card - Flybuys Offer Citi Rewards Program	Purchase rate p.a. 0% for 6 months, then 21.49%	Bonus points 100,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 22.24%	Annual fee $199	More Info Compare	Get 100,000 bonus Flybuys points (worth $500 Flybuys dollars) when you spend $5,000 in the first 3 months. Plus, 0% p.a. interest rate on purchases for 6 months.
Citi Premier Qantas Card Qantas Frequent Flyer	Purchase rate p.a. 21.49%	Bonus points 100,000	Points per $ spent 0.5	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 22.24%	Annual fee $350	More Info Compare	Get up to 100,000 bonus Qantas Points when you meet the spend requirements. Plus, complimentary lounge passes and international travel insurance.
Coles Low Rate Mastercard Flybuys	Purchase rate p.a. 13.49%	Bonus points N/A	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 15 months with 1.5% balance transfer fee, then 20.74%	Annual fee $58	More Info Compare	Save with 0% p.a. for 15 months on balance transfers (with a 1.5% BT fee). Plus, earn Flybuys points on Coles spending.
Westpac Low Rate Card - Cashback Offer	Purchase rate p.a. 13.74%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. N/A	Annual fee $59	Go to site More Info Compare	A no-frills card offering up to $350 cashback: $50 each month you make at least $1,000 of eligible purchases for the first 7 months.
Westpac Altitude Platinum Card Westpac Altitude Rewards	Purchase rate p.a. 20.99%	Bonus points 120,000	Points per $ spent 1	Interest-free period Up to 45 days on purchases	Balance transfer rate p.a. N/A	Annual fee $99 first year ($175 after)	Go to site More Info Compare	Up to 120,000 bonus Altitude Points (90,000 points in year 1 when you spend $3,000 in the first 90 days & 30,000 points after the first spend in year 2).
MONEYME Freestyle Virtual Card	Purchase rate p.a. 23.74%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. N/A	Annual fee $0	More Info Compare	A virtual, instant-use card that offers up to 55 days interest-free and the ability to transfer money to your bank account.
Citi Premier Card Citi Rewards Program	Purchase rate p.a. 21.49%	Bonus points 200,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 6 months with 0% balance transfer fee, then 22.24%	Annual fee $150 first year ($300 after)	More Info Compare	Up to 200,000 bonus points (150,000 in year 1 when you spend $7,000 in the first 3 months and 50,000 in year 2).

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Visa and Mastercard benefits: What can you get?

While rewards, complimentary insurance and other card benefits are typically chosen by the bank or provider, both Visa and Mastercard also give you access to exclusive offers when you pay with your card.

Known as Visa Offers + Perks and Mastercard Priceless Cities, these programs cover travel, shopping, dining, entertainment and more. Here's a look at both of them.

Visa Offers + Perks

visa logo

Visa Offers + Perks (previously Visa Entertainment) is a complimentary perk that gives you access to shopping deals and offers with partners such as THE ICONIC, Booking.com and Hotels.com. Here are some of the offers you can take advantage of with a Visa card:

Shopping. Get discounts, cashback and other deals when you shop with partners.

Travel. Partners offer discounts on flights, accommodation and activities, with some offers even giving you extra perks at hotels.

Dining. Save on restaurant experiences, tasting sessions, masterclasses and more.

Competitions. Enter competitions to win freebies such as new-release DVDs or ticket passes. It can be as easy as answering a question to enter the draw.

You can search for offers nearby or anywhere in the world through the Visa Offers + Perks website.

Mastercard Priceless Cities

Mastercard's Priceless Cities program provides unique offers for a range of locations around the world, including Sydney, New York, London, Tokyo, Singapore and Bangkok. Mastercard Priceless Cities separates its promotions into 4 key categories:

Dining deals. These offers include exclusive tours and dining experiences at some of the best restaurants, opportunities to meet world-famous chefs, priority seating and complimentary glasses of wine.

Entertainment offers. Enjoy exclusive premium ticket pricing for stage productions, savings on local and international attractions and other random delights such as golf trips, yachting adventures or mixology classes – whatever tickles your fancy.

Shop and save. Attend private champagne receptions at boutiques and enjoy discounts off your purchases at VIP sales, or have your own personal stylist take you on a shopping tour for the day with these offers.

Travel in style. Receive complimentary room upgrades and enjoy club level access with free buffet breakfasts, afternoon tea and canapes. You can also get a special price on spa packages or luxury retreat packages involving romantic private dinners and sunset experiences.

Bottom line?

Although there are differences between Visa and Mastercard, you should pay more attention to how credit card rates, fees and features differ between banks when comparing credit cards. When deciding if a Visa or Mastercard is right for you, consider where you plan to use the card and the perks you want to take advantage of.

Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Joselle Delos Reyes as part of our fact-checking process.

Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

Credit cards
Frequent flyer
Credit score
BNPL
Money management
Sustainability

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2 Responses

FiroozehNovember 19, 2023

Which debit account gives me an overdraft feature?

Finder

AmyNovember 20, 2023Finder

Hi Firoozeh,
Personal overdrafts are not typically a standard feature of bank accounts, but can sometimes be added to an eligible account if you request one. If you already have a debit card, you could contact your bank to find out if an overdraft is available. Or check directly with a new bank. Just make sure you check the interest rate that applies if you use the overdraft, as it may be higher than some low rate credit cards or personal loans. Also check if there are any establishment or ongoing fees. Finder’s guide to personal overdrafts has more details on how they work and what to consider. I hope this helps.

Visa vs Mastercard

We compared the features side-by-side and it turns out there's little difference between Visa and Mastercard credit cards – here's how to choose between them.