Last week we talked a little about Visa, this week lets cover some global statistics that you may not have known about MasterCard.
1. Wide coverage
MasterCard is distributed in 210 countries, 150 currencies and 53 languages, with 1.9 billion users and 35.9 million locations worldwide.
2. Fast processing
MasterCard processes $3.6 trillion in transactions a year, that’s $65,068 per minute. It only takes 130 milliseconds to complete a transaction, which is 2X faster than the blink of an eye.
3. Good security
All data backups have a second backup. The volume of data stored would fill 54,470 miles of bookshelves, and is enough to power up a city. In addition, MasterCard has a few private fiber cable network links from London to Paris.
4. Cost effective
By using MasterCard’s payroll system, Walmart saves 300000 lbs of paper checks daily. Electronic transactions also cut SASSA disbursement costs from R33 $3.33 to $1.66.