Mastercard is a brand that offers electronic payment services to millennials on behalf of the bank or financial institution. It’s the fastest-growing American multinational company that has never failed to serve its constant commitment and dedication since 1966.
By offering credit cards and an electronic payment structure, this company has made the entire payment foundation easier for customers, shareholders, and ‘businesses.
Presently, it’s an international company with a global headquarter in Purchase, New York. Currently, Mastercard holds US$37.67 billion worth of assets with the support of 24,000+ employees as of 2021.
List of Mastercard competitors
American Express Co
Talking about the competitor of Mastercard, AMEX or American Express Company, is one of the biggest and most robust competitors of Mastercard since 1850.
It’s an American-based multinational corporation with expertise in corporate banking, credit cards, payment card services, etc.
Headquartered in NYC, the company is one of the 30th associates of the Dow Jones Industrial Average, offering credit cards, traveler’s cheques, and charge cards.
With a total of 63,700+ employees, the company has generated above 188.55 billion dollar assets as of 2021.
PayPal Holdings Inc
Being another robust American technology platform, PayPal Holdings is currently one of the rival companies of Mastercard. By operating an international, two-sided network at scale, this company assists consumers in connecting with merchants.
It has been recorded to have 426 million active accounts worldwide in more than 200 markets. The company has continued to operate robustly since 1998. It has gained over US$75.803 Billion in acquisitions as of 2021.
Also, PayPal ranked 134th position by revenue in Fortune 500 of America’s largest enterprises in 2021.
Another American Multinational company, Visa, has held its position in financial services and credit cards. Headquartered in California, United States, Visahas been a leading payment system corporation since 1958.
Currently, the corporation facilitates electronic funds transfers worldwide with the support and services of its 21,500+ employees. Being one of the leading and top-valued companies in the world, Visa processed 100 billion transactions in 2014.
Through its global market and operations, Visa has made a total value of US$6.8 trillion. It’s one of the powerful rivals of Mastercard with US$24.11 billion yearly revenue.
Discover Financial Services
Founded in 1985, Discover Financial Services has never failed to serve its commitment through services and operations.
It’s a leading and vintage financial corporation in America that offers comprehensive banking solutions, from saving accounts, checking, credit cards, personal loans, student loans, and more.
In the U.S., it’s the 3rd largest credit card brand that gained millions of reliable customer base with satisfactory services and benefits.
Situated in Chicago, Discover Financial Services has spread its business throughout America and generates almost US$12.95 billion annually.
Capital One is another renowned financial service brand and a powerful competitor of Mastercard. First commercialized in 1994 by Nigel Morris and Richard Fairbank in Virginia, the U.S.
With robust specialization in auto loans, credit cards, savings accounts, and other banking facilities, this corporation stamped its footprint on the list of largest banks in the United States.
It’s an entirely tech-focused bank with 30 café-style locations, 755 branches, and 2,000 ATMs worldwide. Capital one is the 5th largest credit card service provider worldwide.
Curtiss W. Harter Jr. was founded in 1969; Comdata has been a reliable payment processor for 53 years. Apart from payment processing services, the company issues trucking permits, corporate spend cards, fleet fuel cards, virtual payments, and Paycatds (paperless payroll cards) for millennials.
Being a subsidiary company of Fleetcor (earlier, it was an associate of Ceridian), it has gained over $3.45 billion through non-stop operations from Brentwood, Tennessee.
In the world of financing services and banking, Comdata is a strong competitor of Mastercard.
Founded in 2000, Global Payments was simultaneously providing audiences an advanced-level and tech-based business and banking solutions.
It’s a software and tech-focused company known for its unique infrastructure and easy connection with banking solutions. The company witnessed more than billions of transactions annually with seamless and safe measures.
With trust, alliance, and service facilities, Global Payments has generated over US$ 7.4 billion in profits as of 2020 and US$ 27.4 billion worth of equity. Currently, it employs around 24,000 people worldwide.
Moneris Solutions is a Canadian financial and banking technology company Since 2000, currently known as Moneris.
For 21 years, the company was the largest corporation specializing in auxiliary equipment and payment processing services. Moneris is a joint venture of Bank of Montreal and Royal Bank of Canada that crossed the pinnacle of success with the association of its 1,900 employees in Toronto.
It was operating independently till 2016 before it got sold to Vanity. Presently, the company crosses nearly 3 billion transactions each business year.
Citigroup is one of the leading and strongest competitors of Mastercard in terms of financial and banking solutions services.
It’s also an American multinational financial services corporation and investment banking firm simultaneously serving people worldwide since 1812. Now, Citigroup has its headquarters in Sioux Falls, South Dakota, from where it majorly operates in 2,649 locations in 19 major countries.
Nothing can beat Citigroup extensively from the aspects of satisfying amenities, dignity, and customer fulfillment.
JPMorgan Chase & Co, another top-tier company in America, has been named a powerful rival of Mastercard nowadays.
Since 1799, this financial corporation has established its international presence by offering various financial services like mortgage loans, banking, credit cards, insurance, wealth management, risk management, etc.
Presently, with 16,000 ATMs and 5,000 branches in the international market, the company generates over a billion ear year ( US$3.831 trillion as of 2021).