USAA announced that it is dropping its long time service provider Master card and taking up VISA as its preferred choice of service provider. The company announced this move on its website today.
USAA (United States Automobile Association), a Texas based company is the largest financial institution in all of US, offering banking services and personal investment services to the present and past members of US Military and their family. The company stated that “Most of the cards will be switched from Master Card to VISA within the end of 2016”.
The reason given for this switch is to eliminate overseas charges incurred by customers using MasterCard. This comes as a major drawback to Master Card, who was the largest supplier of debit and credit cards to USAA for a long time.