Card association

Card association

A card association is a network of issuing banks and acquiring banks that process payment cards of a specific brand.

Examples

Familiar payment card association brands include Visa, MasterCard, American Express, Discover, Diner's Club, and JCB. Visa and MasterCard issuers co-brand with their card association, for example, "WellsFargo-Visa" and "Citi-MasterCard".

tatistics

Card associations Visa and MasterCard are each comprised of over 20,000 card issuing banks [ [http://www.medicalnewstoday.com/articles/55299.php Is Credit Card Debt Bad For Your Health? ] ] .

Among US consumers alone, over 600,000,000 payment cards are in circulation [ [http://www.pbs.org/wgbh/pages/frontline/shows/credit/view/ frontline: secret history of the credit card: watch online | PBS ] ] .

Worldwide, Visa issuers have over 1.5 billion payment cards in circulation [ [http://www.reuters.com/article/ousiv/idUSWEN458920080319?pageNumber=3&virtualBrandChannel=0&sp=true Visa raises $17.9 billion in record IPO | Reuters ] ] [ [http://www.fool.com/investing/value/2008/02/26/visas-big-deal.aspx Visa's Big Deal ] ] .

References


Wikimedia Foundation. 2010.

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