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Credit Card Companies

When looking for a new credit card, you'll find that they're often organized by kind (rewards, low interest, etc.) and/or lender (i.e. bank, credit union, etc.). However, every card has a mark that identifies the supplier, which is the credit card corporation.

The financial organizations that license credit card programs to different lenders are known as credit card firms (sometimes known as credit card associations). The corporations do not distribute cards to customers; instead, they supply lenders with credit card-branded goods that they may offer their customers, then authorize accounts, increase credit limits, and levy fees to both customers and businesses that accept them.

Visa, MasterCard, and American Express are the three main credit card providers in Canada. One of these three corporations is likely to handle your credit card if you're one of the 91 percent of individuals in Canada who have one. Continue reading to learn more about each of them.

Credit Card Company - Market Share of Purchase Transactions Made Worldwide in 2013

Visa : 60.5%

Mastercard : 26.9%

American Express : 3.8%


Visa is the world's biggest credit card business, with headquarters in Foster City, California. In reality, according to the Nilson Report, Visa had 60.5 percent of the global market share of purchasing transactions in 20132.

The BankAmericard was the first credit card issued by Bank of America, and it was introduced in 1958. In the 1970s, BankAmericard created its own company, which was later renamed Visa. In 2007, the regions amalgamated to become Visa, Inc., after expanding and functioning as a number of regional companies by banks throughout the globe. Visa, Inc. went public in March 2008 and trades under the ticker V on the New York Stock Exchange (NYSE).

Visa is a global financial services company that operates in over 200 countries and is well-known for its Visa credit card and Visa debit card products.


MasterCard is the world's second biggest credit card corporation, with headquarters in O'Fallon, Missouri. In 2013, MasterCard, which is renowned for its motto "For everything else, there's MasterCard," owned 26.9% of the global market share of purchase transactions.

Following the success of Bank of America's BankAmericard, a group of California institutions formed Interbank. Interbank issued its first credit card, the Master Charge: The Interbank Card, in 1966. Master Charge was rebranded MasterCard in 1979, and it has been operating under that name ever since. In 1997, the corporation debuted its "Priceless" advertising campaign, which is still remembered by people throughout the globe. MasterCard went public in 2006, two years before Visa, and trades under the ticker MA on the New York Stock Exchange.

MasterCard is a credit card and prepaid card company with operations in more than 210 countries.

American Express

American Express (commonly known as Amex) is a multi-national financial services organization headquartered in New York City that operates in the credit card, charge card, and traveler's cheque industries. While Amex cards are estimated to account for 24% of the cash volume of credit card transactions in the United States 3., according to the Nilson Report, American Express only represented 3.8 percent of the global market share of buy transactions in 2013.

American Express began as an express postal service in 1850, founded by the same founders as Wells Fargo & Co. In 1882, American Express started to branch out into financial services by issuing money orders that competed with those offered by the US Postal Service. One of Amex's founders grew so annoyed by the difficulty of getting cash anyplace on a business trip to Europe that he determined to invent a solution. Traveler's checks were first introduced in 1891 and are now one of Amex's most popular offerings. The firm went public in 1997 and trades under the name AXP on the New York Stock Exchange.

American Express has a global presence in over 140 countries.

Differences Between the Credit Card Companies

Despite the fact that all three credit card issuers provide identical benefits and charge comparable fees and interest rates, there is one major difference: they are not all accepted by the same merchants. Costco, for example, exclusively takes Mastercard as a form of payment. Tim Hortons used to exclusively take MasterCard, and it wasn't until 2012 4 that they started accepting Visa, albeit they still don't take American Express. Most retailers reportedly refuse to use American Express since the costs are higher than those charged by the other two firms, which is most certainly the source of all the variances in who takes what. It's easy to understand why some Canadians might want one of each in their wallet if that's the case.