MasterCard is the second-largest payments network, ranked behind Visa, in the global payments industry. Other major payments networks include American Express and Discover. MasterCard partners with member financial institutions all over the world to offer MasterCard-branded network payment cards. MasterCard uses its proprietary global payments network, which it refers to as its core network, to facilitate payment transactions,....................
which usually involve the MasterCard account holder and a merchant, along with their respective financial institutions. Payments can be made via credit, debit, or prepaid cards. KEY TAKEAWAYS MasterCard is a payment network processor. MasterCard partners with financial institutions that issue MasterCard payment cards processed exclusively on the MasterCard network. MasterCard’s primary source of revenue comes from the fees that it charges issuers based on each card’s gross dollar volume. MasterCard is one of four major credit card processing networks in the United States. Financial institutions can offer MasterCard’s payment products, like credit and debit cards, and benefits to consumers. MasterCard primarily makes money by charging a fee on payments processed through its network. Many of the credit cards in the MasterCard network offer a wide range of perks and benefits.