It is important to know that credit cards are issued and supported by banks and financial institutions, and not by the major credit card brands, such as VISA and MasterCard. The brand, or type of credit card you uses, is actually a payment network. Organizations like MasterCard make sure that millions of retailers and businesses can process their credit card brand, while the issuing financial institutions manage the money.

MasterCard's principal business is to process credit card payments between the various merchant banks and credit card issuer banks that use its "MasterCard" brand. As the second largest credit card network, MasterCard became a publicly traded company in 2006. Prior to its IPO launch, MasterCard was an organization owned by 24,000+ financial institutions that issued the MasterCard credit card brand.


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