MasterCard worldwide is one of the most popular international financial corporations. The initial business was created by Stanley Benovitz and Raymond Tanehouse and later on, in 1966, the business was assimilated with United California Bank.
The first name of the MasterCard was Master Charge and this card was designed by three California banks: Wells Fargo, United California Bank, Bank of California and Crocker National Bank. The banks formed ICA or Interbank Card Association after which other banks joined the aforementioned association and created Master Charge, the Interbank Card. In 1969, the card became extremely popular when First National City Bank joined the union and merged its Everything Card with Master.
In 1979, the name of the card was changed to MasterCard and ever since the popularity of this piece of plastic never seems to decrease. In the 90s, the MasterCard started to expand and the company bought Access Card. In 2002, MasterCard and Europay International SA (issuer of Eurocard) have merged and finally in 2006, MasterCard changed the name once again and assumed one that has symbolized the overgrowing success and expansion of the card – MasterCard Worldwide. The name referred to global operations performed by the company and a new logo has been designed accordingly; the third circle has been added to the two originally designed. Of course, the original logo with the red and the orange circle has never been abandoned.
There are many reasons to decide on MasterCard – it offers numerous benefits to its holder and it is very popular by offering low interest rates and convenient monthly repayment instalments. The terms of usage are adjusted to an average individual and the client are often rewarded with special offers such us periodical elimination of annual fee. One of the advantages of MasterCard is flexibility. This card aims at representatives of different financial background and the terms are often adjusted to students and special groups of users.
If you are a dedicated online buyer, than MasterCard would most likely be the best choice since it has a special code that is known only by the owner and the bank and therefore the card cannot be misused in any way. Additionally, the card offers a zero liability clause which protects you in the event that your card/card number is stolen and used in an illegal activity or purchase. The term is however limited and cannot be refers to if you had more than 2 unauthorized actions.
Extra safety of the user is also ensured by a special system that monitors the pattern of all transactions. If an irregularity appears, the holder of the card is notified immediately and further misuse prevented.
Often discounts, cash refunds and other perks are what keeps the position of MasterCard stable and preserves the loyalty of the users. It just goes to show that MasterCard changes and improves together with the technology, but takes care of its users in the same way as 46 years ago.