Card scheme
Payment networks linked to payment cards / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Card scheme?
Summarize this article for a 10 year old
Card schemes are payment networks linked to payment cards, such as debit or credit cards, of which a bank or any other eligible financial institution can become a member. By becoming a member of the scheme, the member then gets the possibility to issue cards or acquire merchants operating on the network of that card scheme.[1][2] UnionPay, Visa and MasterCard are three of the largest global brands, known as card schemes, or card brands. In recent years domestic card schemes such as AfriGo(Nigeria), Cartes Bancaires(France), Dankort(Denmark) and RuPay(India) have emerged, competing with the global brands. Billions of transactions[3] go through their cards on a yearly basis.
This article needs additional citations for verification. (July 2021) |