“There are some things money can’t buy. For everything else, there’s MasterCard,” the priceless and true tagline of MasterCard, a technology company in the global payments business that enables you to use electronic forms of payment instead of money and cheques.
Whether it’s a credit, debit or a prepaid card, no card is more accepted around the world. And with that noted MasterCard doesn’t actually issue or distribute cards. The cards are issued by banks. But they do make payments happen around the clock, around the world. MasterCard are networks that process payments between banks and merchants for purchases made with the cards.
As a cardholder should you require rental car insurance, fraud security and payment protection MasterCard has you covered, also offering multiple tiers of benefits with the higher-level offerings. That would generally include discounted travel, vacation bundles, unique experiences, more purchasing power with higher spending limits and worldwide acceptance.
MasterCard operates on three tiers and depending on the type of card you own it can take you from excellent to exemplary service. There are Base, World and World Elite. The Base package offers perks that include auto rental collision coverage, fraud liability protection, emergency travel assistance, card replacement and extended warranties. The World level includes additional perks such as a dedicated personal travel advisor similar to a concierge, longer price protection (120 days) and added amenities at certain hotels, such as complimentary breakfast, late checkout and room upgrades.
While the World Elite, MasterCard’s top level, comes with all the benefits of the lower levels and added on discounted service at participating rental car companies, reduced prices on airfare and access to the World Elite Cruise and Vacations programs guide, which provides price cuts on cruises and other package trips.
And when choosing your MasterCard credit card option it’s usually more important to consider what the issuing bank is offering in a credit card such as rewards, cash back or a 0% balance transfer deal than what the payment processor includes. In South Africa Absa, Nedbank and Standard Bank are the issuers of MasterCard credit cards.
While MasterCard prepaid cards are issued only by Standard Bank while their debit cards can be found in other banks such as First National Bank, Finbond Mutual Bank and Capitec
Did you know MasterCard offers price protection? If you buy an item with a MasterCard and the price is reduced within 60 days, MasterCard will cover the difference, though there are exclusions.