The differences between MasterCard and Visa credit cards are minor. They are both global, multinational companies that manage credit cards. But, they are payment systems rather than actual credit cards, so they rely on providers to use their scheme.

MasterCard recently introduced 'MasterCard SecureCode', a scheme to tackle fraud when giving your details on the internet. This service protects your MasterCard details with a code, when you buy from participating online shops.

In an attempt to reduce fraudulent card use, MasterCard, Visa and Europay agreed to introduce a chip and PIN (Personal Identification Number) system. This means that when you use your credit card, you will be asked to enter a PIN that matches the chip embedded in your card. When France introduced a similar security system, domestic fraud fell by 78%