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What is Mastercard?

mas - ter  card
noun


Mastercard is a multinational financial services corporation that facilitates electronic funds transfers and payment transactions. It is one of the world's leading providers of credit and debit cards, widely accepted by merchants globally.

How does Mastercard work?

Mastercard works by providing a convenient and widely accepted method for electronic payments. When a cardholder uses a Mastercard for a transaction, the card information is transmitted securely to the payment processor, which then verifies the transaction with the issuing bank. If the cardholder has sufficient funds or credit, the transaction is approved, and the necessary funds are transferred electronically. Mastercard offers various types of cards, including credit cards and debit cards, each with its features and benefits. 

The security features, such as chip technology and secure authentication methods, contribute to the protection of cardholder information during transactions.