Card scheme: Difference between revisions

Revision as of 08:18, 1 August 2024

Revision as of 15:46, 16 August 2024

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{{Short description|Payment networks linked to payment cards}}

{{more citations needed|date=July 2021}}

'''Card schemes''' are payment networks linked to [[payment cards]], such as debit or [[credit card]]s, 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 |access-date=2021-05-17 |archive-date=2013-09-25 |archive-url=https://web.archive.org/web/20130925005126/http://fbf.fr/en/files/94VLEX/Interbank-payment-card-system-24012013.pdf |url-status=dead }}</ref>

[[UnionPay]], [[Visa Inc.|Visa]] and [[Mastercard|MasterCard]] are three 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 2021}}</ref> go through their cards on a yearly basis.