Here I pull the data from both, Visa/MC, 1 local currency in USD: (on May-27)
AUD 0.784222/0.769200 up 1.95%
CAD 0.812861/0.800833 up 1.50%
CNY 0.161205/0.161262 down 0.04%
EUR 1.098790/1.092399 up 0.58%
GBP 1.548045/1.542700 up 0.35%
JPY 0.008231/0.008136 up 1.17%
SGD 0.746138/0.738662 up 1.01%
By looking simply at the numbers, Visa indeed charge higher for market currencies.
However, I do remember seeing on my Arrival+ letter that Barclay MC cards charge MC rates plus 1% for "no-ftf" cards. Anyone sees that too?
Here are the links I use for the numbers:
https://www.mastercard.com/global/currencyconversion/
http://usa.visa.com/personal/card-be...or-results.jsp