What is a card network?
A card network is the infrastructure which enables communication between merchants, acquirers, issuers, and card schemes during payment processing.
How does a card network work?
When a transaction is initiated, the network routes the request from the merchant’s acquirer to the cardholder’s issuing bank for authorisation, then returns the response.
What companies operate card networks?
Visa and Mastercard operate the largest global card networks, facilitating billions of transactions annually.
Why are card networks important?
They ensure fast, secure, and standardised processing of card transactions across different countries and financial institutions.
How do card networks differ from payment processors?
Card networks provide the infrastructure and rules, while processors handle the technical execution of transactions for merchants.