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{{refimprove|date=July 2021}}
'''Card schemes''' are payment networks linked to [[payment cards]], such as debit or [[Credit card|credit cards]], of which a [[bank]] or any other eligible [[financial institution]] can become a member. By becoming a member of the scheme, the member then gets the possibility to issue cards or [[Acquiring bank|acquire]] merchants operating on the network of that card scheme.<ref name="4CornersmodelRupp">{{cite web |last1=Rupp |first1=Martin |title=Cardholder, Merchant, Issuer & Acquirer - The Four Corners Model for Payment Security and Key Management |url=https://www.cryptomathic.com/news-events/blog/cardholder-merchant-issuer-acquirer-the-four-corners-model-for-payment-security-and-key-management |publisher=Cryptomathic |date=April 22, 2021}}</ref><ref name="Fédération Bancaire Française">{{cite web |last1=Études et activités bancaires et financières |title=An interbank payment card system for the benefit of all |url=http://www.fbf.fr/en/files/94VLEX/Interbank-payment-card-system-24012013.pdf |publisher=Fédération Bancaire Française |date=January 2013}}</ref>
[[Visa Inc.|Visa]] and [[Mastercard|MasterCard]] are two of the largest global brands, known as card schemes, or card brands. Billions of transactions<ref name="Number of purchase transactions 2020">{{cite web |last1=de Best |first1=Raynor |title=Number of purchase transactions on global general purpose card brands |url=https://www.statista.com/statistics/261327/number-of-per-card-credit-card-transactions-worldwide-by-brand-as-of-2011/ |publisher=Statista |date=July
==Types==
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==Processes==
The card scheme utilizes the respective [[Guideline|guidelines]]<ref name="Mastercard Rules">{{cite web |last1=Summary of changes 2020 |title=Mastercard card scheme - Rules and guidelines |url=https://www.mastercard.us/content/dam/mccom/global/documents/mastercard-rules.pdf |publisher=Mastercard |date=December 2020}}</ref><ref name="Visa Rules">{{cite web |last1=Visa core rules 2021 |title=Visa card scheme - Product and service rules |url=https://sr.visa.com/content/dam/VCOM/download/about-visa/visa-rules-public.pdf |publisher=Visa |date=April 2021}}</ref> to process the card exchange data from the acquiring to the [[Issuing bank|issuing bank]], and vice-versa, until the [[Payment|payment]]<ref name="Payments industry ecosystem 2021">{{cite web title=The payment industry’s biggest trends in 2021 |url=https://www.insiderintelligence.com/insights/payments-ecosystem-report/ |publisher=Insider Intelligence |date=July 2021}}</ref> is fully completed (or denied). Credit and [[Debit card|debit cards]] work with four-party scheme, completing an open-circle framework that permits consistent flow of transactions; thus, allowing the banks to handle the whole process.
Card schemes aim to make the transaction convenient and automated for all parties involved in the loop, with the core belief that [[Client|clients]] end up spending more than intended when the payment process is simple.
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