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What is the difference between Master, Debit, Green, and Visa card?

There are plenty of cards out there in the market used for a variety of different things like payment, identification, business, etc. It Is getting hard to choose which one to pick out of that variety or which on provides better facilities.

What are Master, Visa, Green, and Visa Cards?

Master, Visa, and Debit cards are the cards used for payment. While as Green card is the national identification card in European countries.

Visa vs Master Card

Visa card is the electronic fund transferring card issued by the Bank of America which is now known as VISA Inc. V.Inc is an American multinational financial service providing a corporation based in Foster, California, United States.

V.C firstly known as Bank of America card, which issue in 1958. This was the first mass-marketed credit card program and it quickly grew popular.

In 1970, Bank of America became an independent entity named VISA Inc and the card named Visa Card.

Master Card was the first Inter Bank fund transfer card by a corporation of other banks residing in the United States as a competitor of Visa card in 1970. These both cards providing companies do not facilitate credit or debit cards.

Taxes and annual commission on these cards depend on the provider banks. Different banks provide debit or credit card affiliated with master and visa card, so taxes and commissions vary.

Debit Card

A debit card is a bill payment card that subtracts money directly from a consumer’s current account to pay for purchases. It reduces the hurdle of carrying cash or physical checks to pay for the purchases directly from your savings.

Also, debit cards, we refer to as check cards, offering the comfort of credit cards and many of the same user protections when generated by major payment processors such as Visa or Mastercard.

Debit cards allow users to withdraw cash through an ATM or to cash-back function many merchants provide at the time of purchase. Users can not completely get rid of taxes when cash withdraw through ATM not affiliate to the card provider bank you will be charged a fee.

A debit card can also work as a credit card if it has a major payment processor’s logo on it. Users will not be exposing their PIN code, yet the payment will still come directly from the card holder’s account.

Green Card

A Green card, a permanent nationality card issued by the government to immigrants after fulfilling its requirements. The green card provides immigrants with privileges that they are now officially citizens of that country and no longer need VISA issued to get into the country.

There are currently 13.2 million green cardholders of whom 8.9 million are eligible for permanent residence of the United States. The card is name green card, because of its color.

A green card holder is dual nationality holding person who after spending period has been issued citizenship in foreign country. Immigrants could end up in jail for 30 days if found not carrying their green card or Visa.

Conclusion

Master and Visa are the major payment processors around the world. While the debit card is issue by bank that can be affiliate with any of these payment processors. A green card is a national identification card for immigrants living in a foreign country.

About the author

Samia Riaz

I, Samia Riaz memon, a student of 3rd year computer system engineering at Institute of Bussiness Adminstration (IBA). I am a writer, blogger and content creator since 2014. I have been providing my services at different platforms and have worked with alot of organizations and pherms.
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Samia Riaz

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