Issuing bank

Issuing bank

An issuing bank is a bank that offers card association branded payment cards directly to consumers.

Detail

The issuing bank assumes primary liability for the consumer's capacity to pay off debts they incur with their card.

In the case of credit cards, the issuing bank extends a line of credit to the consumer. Liability for non-payment is then shared by the issuing bank and the acquiring bank, according to rules established by the card association brand.

Statistics

Worldwide, over 1.5 billion payment cards are in circulation[1] .[2]

References

  1. ^ Visa raises $17.9 billion in record IPO | Reuters
  2. ^ Visa's Big Deal

Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • issuing bank — Bank that issues a letter of credit. Bloomberg Financial Dictionary * * * issuing bank UK US noun [C] BANKING, FINANCE ► a bank or other financial organization that makes credit cards available: »Keep a record of card numbers so you can contact… …   Financial and business terms

  • issuing bank — USA issuing bank, Also known as the issuing lender or issuer (+). The party directly obligated to fund under a letter of credit. In a syndicated loan, one bank typically issues the letter of credit on behalf of the other revolving lenders who… …   Law dictionary

  • Issuing bank —   An ISO term. The identification of the bank issuing the documentary credit.   ISO Documentary Credit Forms term. 5*35x.   ISO Standard Telex Formats term. 4*35x …   International financial encyclopaedia

  • Bank of England — Bank of England …   Wikipedia

  • Issuing — ist ein Begriff aus dem Bankwesen. Damit das Geschäft mit Kreditkarten funktioniert, sind bei Bankkarten (Debitkarten wie Maestro oder Visa Electronic) oder bei Kreditkarten (wie MasterCard und Visa) in der Regel vier Parteien involviert: die… …   Deutsch Wikipedia

  • issuing lender — USA issuing bank, Also known as the issuing lender or issuer (+). The party directly obligated to fund under a letter of credit. In a syndicated loan, one bank typically issues the letter of credit on behalf of the other revolving lenders who… …   Law dictionary

  • bank draft — n. An order for payment of money drawn upon a bank by a bank officer, payable when the issuing bank accepts it. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • Bank of China — Infobox Company company name = Bank of China Limited company company type = Joint stock company company slogan = foundation = 1912 location = Beijing, People s Republic of China key people = Xiao Gang, ChairmanLi Lihui, President num employees =… …   Wikipedia

  • bank — {{Roman}}I.{{/Roman}} noun 1 for money ADJECTIVE ▪ big, large, major ▪ small ▪ central, clearing (in the UK), commercial …   Collocations dictionary

  • Bank of the Republic of Burundi — Logo The Bank of the Republic of Burundi (French: Banque de la République du Burundi, BRB) is the central bank of Burundi. The bank was established in 1966 and its offices are in Bujumbura. History The central bank evolved step by step: Royal… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”