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15.10.2021

MasterCard Payment System

MasterCard is nothing more than an intermediary between two banks. Let’s assume that one financial institution has a buyer account and another has a seller’s one. We are talking about the issuing bank and the acquiring bank. MasterCard service is used to make a payment between two banks.

Currently, the issue of MasterCard Worldwide bank cards is organized by more than 22,000 banking institutions – more than 210 countries. The service has over 30 million selling spots and significantly outperforms its main competitor VISA (over 20 million selling locations). The main advantage of the payment system is that the platform carries out more than 140 million transactions per second.

Universal Payment Solution

The main goal of online payment systems is to expand the reach of the audience of potential customers using the latest payment technologies. MasterCard is no exception here. The operational speed of payment processing and the system’s reliability has always been the company’s main priorities. That is why the system has the highest level of trust in B2B and B2C segments.

MasterCard was one of the first platforms to spot the prospects for the online payment sector. Every year, the volume of transactions in the virtual industry continues to grow, gradually surpassing the ATMs.

Nowadays, almost all online businesses are focused on accepting customer funds using online tools. Using MasterCard systems, business owners can establish guaranteed receipt of payments from bank cards with the maximum level of security and convenience. Bank cards allow you to reload your deposit from anywhere in the world, wherever you are. All these factors can stimulate an increase in the audience of potential customers and boost conversions.

Summary

MasterCard closely monitors trends in the online payment market. This service is top-rated among online stores and commercial structures that receive online payments via bank cards.

MasterCard technical specialists annually improve the functionality of their system by adding new services. PayPass Wallet by MasterCard is one of the most promising products to hit the market soon. This e-wallet will allow customers to make transactions with the maximum level of comfort and security 24/7.

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