Maestro is a multi-nationalservice owned by that was founded in 1992. Maestro cards are obtained from associate banks and can be linked to the card holder’s current account, or they can be . The cardholder presents the card at the (POS) and this is swiped through the by the assistant or the customer or inserted into a device. The payment is authorized by the card issuer to ensure that the cardholder has sufficient funds in their account to make the purchase and the cardholder confirms the payment by either signing the sales receipt or entering their 4 to 6-digit . It is most widely used in Europe.
Visa Inc. is an Americancorporation headquartered in , , United States. It facilitates throughout the world, most commonly through Visa-branded and . Visa does not issue cards, extend credit or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash-access programs to their customers. It was founded in 1958 as BankAmericard.
Similarly, MasterCard is a International Payment franchise which also has a large worldwide acceptance and it’s own network to process the payment transactions . It’s headquarter is in New York. It was founded in 1966 (as Interbank Card Association)
1979 (as MasterCard).
In USA, Visa is accepted more than MasterCard but outside USA, even MasterCard gives tough competition to Visa.
This answer is written by , SW Engineer at Visa on quora
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