From the course: Safeguarding Customer Credit Card Data: PCI Compliance
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Issuers, payment processors, and banks
From the course: Safeguarding Customer Credit Card Data: PCI Compliance
Issuers, payment processors, and banks
- There are other players involved in credit card payments. Issuers are financial institutions, most commonly banks, which provide consumers or organizations with cards that they can use for whatever they need. They typically make money by charging the cardholder interest and annual fees. Issuers will use one of the card payment networks, such as Visa or Mastercard to make the card universally acceptable. Discover and American Express are both the issuer and payment network, so you will see cards that are not related to any other organization with the AmEx or Discover brand. Card brands make money off every transaction, as well as on various cardholder fees. Payment processors handle the overall communication between the merchant and the issuing banks. To make this process quick and seamless, they can use a payment gateway to contact that payment processor, who will then make the connection to the appropriate issuing…
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