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 China UnionPay, RuPay, Visa, MasterCard, American Express, Discover, Diner's Club, and JCB. Visa, MasterCard and American Express issuers co-brand with their card association. for example, "WellsFargo-Visa" and "Citi-MasterCard".

Statistics

Card associations Visa and MasterCard each comprise over 20,000 card issuing banks.[1]

Among United States consumers alone, over 600,000,000 payment cards are in circulation.[2]

Worldwide, Visa issuers have over 1.5 billion payment cards in circulation[3] .[4]

References

  1. ↑ Is Credit Card Debt Bad For Your Health?
  2. ↑ frontline: secret history of the credit card: watch online | PBS
  3. ↑ Visa raises $17.9 billion in record IPO | Reuters
  4. ↑ Visa's Big Deal
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