Four points you need to know about the difference between MasterCard and UnionPay cards Credit cards issued by major domestic banks have different card organizations. The more common ones include UnionPay card, MasterCard card, visa card and JCB card. Different card organizations are suitable for different consumption areas. Today I would like to introduce to you the difference between MasterCard and UnionPay cards. 1. UnionPay is a card organization in China. Cards starting with "62", "60" and "9" in China belong to China UnionPay. MasterCard is an American card organization. Cards starting with "5" in China belong to MasterCard. 2. Applicable areas: UnionPay is convenient for domestic consumption; MasterCard is convenient for consumption abroad, especially in Europe and the United States. 3. In terms of organizational nature, UnionPay is a joint-stock financial service institution and is for-profit; Mastercard is a non-profit membership association without shares. 4. The settlement channels are also different. UnionPay uses the UnionPay settlement channel; MasterCard uses the foreign currency settlement channel. If the transaction is not in local currency, there is a currency conversion fee in the middle. Note: MasterCard International owns MasterCard, Maestro, Mondex, Cirrus and other brand trademarks. In China, all major banks use the MasterCard brand. Credit card knowledge: MasterCard credit card application requirements The main differences between MasterCard and UnionPay cards are the above four points. It is recommended that you apply for a UnionPay card for domestic consumption and a MasterCard for overseas consumption. If you occasionally make overseas purchases, you can apply for a UnionPay and MasterCard dual-label credit card.