1. Geographically speaking, UnionPay is a card organization in China and MasterCard is a card organization in the United States.
At present, domestic bank cards belong to different bank card organizations according to different prefix numbers. The prefix "5" belongs to MasterCard, while "62", "60" and "9" belong to China UnionPay.
2. From the perspective of use, if you only consume in China, you can choose UnionPay; But if you often need to spend abroad, you can choose MasterCard.
In recent years, in order to meet the needs of users, major banks have launched dual-currency cards, namely UnionPay+MasterCard, allowing users to take the UnionPay channel when spending at home and the VISA or MasterCard channel when spending abroad.
3. In terms of organizational nature, MasterCard is a non-profit member association without shares, while UnionPay is a joint-stock financial service institution, which is profitable.
4. From the settlement channel, if you choose UnionPay, you will take the UnionPay channel. When you return the credit card, you can change Hong Kong dollars into RMB. If you take other channels, such as MasterCard, then the repayment time is "Hong Kong dollars-US dollars-RMB", with the conversion of US dollars in the middle.
UnionPay is a joint-stock financial service institution approved by the People's Bank of China and initiated by more than 80 domestic financial institutions with a registered capital of 654.38+65 million yuan. The company was established on March 26th, 2002, and its headquarters is located in Shanghai. UnionPay adopts advanced information technology and modern corporate management mechanism to establish and operate a wide and efficient inter-bank information exchange network system for bank cards, formulate unified business norms and technical standards, realize efficient inter-bank general and joint business development, popularize UnionPay cards, actively improve the acceptance environment, promote the rapid development of China's bank card industry, build UnionPay brand into a major international bank card brand, and realize "UnionPay cards will be used wherever China people go".
MasterCard International is the second largest international credit card organization in the world. 1966 Some banks in California established the Inter-bank Card Association. 1970 launched the name and logo of Master Charge, which unified the name and design of credit cards issued by member banks. 1978 changed its name to the current MasterCard again. MasterCard International owns MasterCard, Maestro, Mondex, Cirrus and other brands. Mastercard international itself does not issue cards directly. MasterCard brand credit cards are issued by members of financial institutions participating in mastercard international. At present, it has about 20,000 members, more than 2 1 10,000 merchants and ATMs.