Buzz
If you've been selling online on Facebook and running ads, chances are you've heard of MasterCard but aren't sure what it is. To explore what MasterCard is all about, check out this article by Mytour.
Article Contents:
1. What is Mastercard?
2. Identifying MasterCard
3. Pros and cons of MasterCard
4. What can you do with a MasterCard?
1. What is a Mastercard?
A MasterCard is an electronic payment card that uses the MasterCard network to process transactions. These cards typically feature the Mastercard logo prominently displayed on the surface and can be credit cards, debit cards, or prepaid cards.
2. Identifying a MasterCard
While there are many banks and organizations issuing credit cards in the form of MasterCard with different sizes and designs, here are some common characteristics to identify a MasterCard:
- MasterCard Logo: As mentioned earlier, MasterCard cards typically feature the Mastercard logo prominently displayed on the surface of each card.
- Card Number: All MasterCard cards start with the number 5. Maestro cards may start with 5 or 6.
- Card Size: All current MasterCard cards have the same size of 85.60 x 53.98 mm, with rounded corners ranging from 2.88 to 3.48 mm in radius, as specified by the international standard ISO/IEC 7810.
3. Pros and Cons of MasterCard
The primary advantage of MasterCard is its wide acceptance and usage globally. Hence, when traveling abroad, you can use your MasterCard for payments and purchases instead of carrying cash, reducing the risk of loss or theft.
Moreover, you can use the card to withdraw cash from ATMs. However, cash withdrawals may incur fees.
Additionally, the main limitation when applying for a Mastercard is that customers need to demonstrate their financial status, income, and may need to provide additional documents as required by the bank where you intend to open the card.
Using a MasterCard undoubtedly facilitates easier and more convenient payments and shopping. However, it's essential to manage personal expenses sensibly to avoid overspending.
4. What can you do with a MasterCard?
Nowadays, MasterCard is widely accepted and used in many countries around the world. Hence, when traveling abroad, you don't need to exchange currency or carry cash with you. Instead, you can locate ATMs with the Mastercard logo to withdraw cash as usual.
Furthermore, you can use your MasterCard to make online purchases or payments at stores and services without the need for cash.
Moreover, if you're earning money online by selling products on Facebook, you can use your MasterCard to run ads and increase your sales revenue.
