One of the biggest payment networks in the world, Visa provides a convenient and safe network for conducting electronic payments. With a Visa Card, you may get cash from more than 2 million ATMs across the world, pay bills, make online payments, and make purchases at POS terminals. There are five different types of Visa Cards: Visa Classic, Visa Gold, Platinum, Visa Signature, and Visa Infinite.
To provide payment products with the Visa brand, Visa has partnered with a number of banks and NBFCs. The Visa credit card is one such item. Visa offers services including emergency card replacement, cash advances, and insurance, in addition to the ease and security of cashless transactions. The advantages change depending on the type of Visa Card.
Importance of Visa credit cards
- In more than 200 countries across the globe, Visa is accepted by merchants and businesses.
- The customer’s financial profile and credit score are used to set credit limits and credit cards.
- In addition to the 16-digit number printed on the card, Visa cards contain a microchip that stores user information.
Types of Visa credit cards
Visa credit cards can be issued by banks in the following categories:
Visa Classic Credit Card
This is a standard Visa credit card that may be used wherever in the world. Visa credit card advantages include:
- Worldwide emergency card replacement service
- Through the 24-7 Global Customer Assistance Services, general assistance is available from anywhere in the world.
- The benefit of an emergency cash advance due to the card’s ability to access money at 1.9 million ATMs in more than 200 countries.
Visa Gold Credit Card
From the Classic Visa Credit Card, this is an improvement. The gold card offers the following advantages in addition to emergency card replacement, cash advances, and customer support:
- Travel support
- Special deals are available worldwide in shopping, entertainment, travel, and eating.
- Support with medical and legal referrals
Visa Platinum Credit Card
The Visa Platinum services offer greater benefits so that one can enjoy life’s better pleasures. Some of its advantages include:
- Accepted in millions of shops and ATMs throughout the world
- numerous offers and discounts on goods, services, restaurants, and travel.
- Platinum concierge service available around-the-clock for arranging trips, cinema tickets, gifts, and other services
- Enjoy many Visa promotions.
Visa Signature Credit Cards
This Visa Card grants a cardholder specific benefits in accordance with his or her lifestyle while offering extraordinary purchasing power. These are the rewards offered by this card:
- The card offers identical advantages to the gold card, such as international acceptance and customer support.
- Visa Concierge services for researching trip places, reserving theatre tickets, purchasing presents for loved ones, etc.
- Global customer support to ban the stolen card anywhere
- Worldwide cash and replacement cards for emergencies
- Exclusive savings and promotions at hotels, supermarkets, shops, and more
- Offers for upscale eating, vacations, etc.
VISA Infinite Credit Card
VISA’s Infinite Credit Card is an elite card that offers a wide array of benefits ranging from travel benefits to shopping benefits to hotel room benefits. In case of emergency, VISA’s Infinite Credit Card provides a 24/7 concierge service.
How to apply for a Visa credit card?
Applying for a Visa credit card is quite simple:
- Visit the website of the Visa you wish to apply for.
- Select the Apply Now option.
- Now, fill out the application and submit it.
Where is Visa accepted?
- More than 200 nations and territories worldwide accept Visa credit cards.
- Visa credit cards are accepted in India at Point of Sale (PoS) terminals, online merchants, ATMs, and for adding funds to wallets.
- At PoS devices with NFC support, contactless Visa credit cards can also be used to make purchases utilising the PayWave function.
What is Visa’s contactless transaction?
- At NFC-enabled POS terminals, one may use Visa payWave to make payments up to Rs. 5,000 without inserting their card into the device.
- To conduct transactions using the payWave technology, no pin is necessary.
- The POS must support NFC, and the card must be contactless as the sole requirements.
- Three green lights start to blink on the point-of-sale device once the vendor enters the amount. The cardholder must then press the Visa PayWave credit card to complete the transaction quickly.
Visa PayWave: What is it?
Visa’s contactless payment method is called Visa PayWave. You can pay for your purchase by just tapping your card on an NFC-enabled Point-of-Sale (PoS) device if your card supports this capability. You no longer need to input your bank card PIN, thanks to this feature. The maximum transaction value for which the contactless feature can be used is 2,000, nevertheless.
What does the VISA network mean?
Visa Inc. is a corporation that facilitates payments among financial institutions and consumer banks using the company’s debit and credit cards. Visa also functions as a settlement network for the banks that issue the cards and levies a small processing fee on each transaction. Along with this, there is an additional layer of online security added to payments made through the Visa network.
What are the offers provided on VISA credit cards?
Depending on the type of credit card you possess, Visa credit cards provide a broad variety of credit card offers and advantages. The perks you receive from a Visa Classic credit card are significantly smaller than those of other cards. A variety of advantages are available with Visa Gold credit cards, including retail discounts, eating privileges, and hotel discounts. A greater variety of privileges and offers are available with Platinum, Signature, and Infinite credit cards, including savings on eating, shopping, and medical care.
Payment of Visa Credit Card Bill
- Go to the Visa official website and select the option for bill payment.
- After selecting your nation, click on the credit card type you own.
- After entering your credit card information, click “Pay.”
- A number of third-party websites, including Paytm and Billdesk are other options for paying credit card bills.
Visa credit cards versus Visa debit cards
A Visa debit card makes use of the money in your savings account. The bank’s savings account is connected to the debit card, which may be used to withdraw money whenever needed.
A Visa credit card is a sort of plastic money that is a form of credit from the bank, which is the main distinction between a credit card and a debit card. The bank will retain a record of each transaction done with a credit card. You’ll be required to repay the money plus interest calculated by the bank at the end of each month.
Rupay versus Visa
The fact that Visa is a worldwide financial organisation and Rupay is an Indian native card is one of the key distinctions between the two. In order to decrease the need for foreign payment gateways like Visa and MasterCard, the Rupay card was introduced into India’s payment system.
They are foreign corporations, which is the first reason, and their hefty commission is the second. The cost of transactions likewise rises as a result of this. So, along with having its own payment gateway, the RuPay credit card is designed exclusively for the Indian community.
This credit card has a minimal commission and functions similarly to a Visa or Mastercard. All Indian banks and financial organisations accept electronic payments using RuPay.
Visa versus MasterCard
Visa and MasterCard are both exclusive network processors, which gives them an edge over the competition. Each business offers a credit card co-branded with the other and accepted worldwide. In terms of their functionality and offerings, however, they are slightly different.
Mastercard’s and Visa’s business models are quite similar. Users do not receive direct cards from them; instead, their members partner with banks and NBFCs to issue a MasterCard- or Visa-enabled card. Both payment networks offer a wide variety of co-branded products and services.
Mastercard and Visa cards differ in a few key ways:
- Visa card service fees are based on the volume of cards issued. Service fees for Mastercard credit cards are calculated and negotiated on the basis of global dollar volume.
- There are more transactions, more cards in circulation, and more purchases for Visa credit cards. There are fewer transactions, cards in circulation, and purchases for Mastercard.
- In the case of Visa, contactless payments are handled by Visa PayWave. Mastercard makes contactless payments with PayPass.
Few Top Visa Credit Cards in 2022
Name of the Visa Credit Card
Visa Credit Card Annual Fee
Visa Credit Card Best Suited For
|Amazon Pay ICICI Credit Card||Nil||Online Shopping Cashback|
|Axis Ace Credit Card||Rs. 499||Cashback|
|HDFC Moneyback Credit Card||Rs. 500||Rewards|
|HDFC Regalia Credit Card||Rs. 2,500||All-Round Benefits|
|MMT ICICI Bank Visa Signature Credit Card||Rs. 2,500||Travel|
|SBI BPCL Octane Credit Card||Rs. 1,499||Fuel|
|SBI Card ELITE||Rs. 4,999||Travel & Lifestyle Spends|
|SBI SimplyCLICK Credit Card||Rs. 499||Online Shopping Rewards|
|Standard Chartered Bank DigiSmart Credit Card||Rs. 49 per month||Online Shopping Discount|
|Standard Chartered Manhattan Platinum Credit Card||Rs. 999||Grocery and Supermarket Spends|
What should I do if I lose my Visa credit card?
If you lose your Visa Credit card, inform your bank immediately to get it blocked. Don’t worry, you can apply for a duplicate credit card.
Is it possible to pay a Mastercard credit card bill using a Visa credit card?
No, that is not possible.