Definition of MasterCard:
MasterCard is the second largest payment network, ranked behind Visa, in the global payments industry. Other major payment networks include American Express and Discover. MasterCard partners with member financial institutions all over the world to offer MasterCard branded network payment cards.
MasterCard payment cards exclusively use the MasterCard network for processing all transaction communications. Payment cards may be credit, debit, or prepaid cards.
Worldwide credit card corporation that works with financial institutions to issue credit cards. The credit cards distributed by the company are done so under the MasterCard brand, which is one of the three major credit cards accepted at vendors across the world. The credit provided to card holders is controlled by the financial institution that issues the card and not MasterCard. MasterCard converted from a privately held company to a public company on May 25, 2006.
How to use MasterCard in a sentence?
- We accept mastercard in our international transactions online but there is a mandatory fee we agreed to pay to mastercard as well.
- You may want to have a mastercard for your company so that you have the purchasing power that you need.
- MasterCard partners with financial institutions that issue MasterCard payment cards that are processed exclusively on the MasterCard network.
- I purchased a wide variety of clothing offline this past week and I used my MASTERCARD to pay for them all.
- MasterCard is a payment network processor.
- MasterCard’s primary source of revenue comes from the fees it charges issuers based on each card’s gross dollar volume.
Meaning of MasterCard & MasterCard Definition