Issuing Bank

An issuing bank is a bank that offers card association branded payment cards directly to consumers. The name is derived from the fact that it issues payment to the acquiring bank on behalf of its customer (the purchaser in the transaction).

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Other articles related to "bank, issuing bank, banks":

Advising Bank
... An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available ... Advising Bank's responsibility is to authenticate the letter of credit issued by the issuer to avoid fraud ... The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of ...
Leather Currency - Advantages and Disadvantages
... Banknotes were originally a claim for the coins or precious metals held by the bank, but due to the ease with which they could be transferred and the confidence that people had in the capacity of ... of the "money" that people think that they have as demand deposit bank accounts and electronic payments have negated the need to carry notes and coins ... Banknotes issued by commercial banks had counterparty risk, meaning that the bank may not be able to make payment when the note was presented ...
Interchange Fee
... card industry to describe a fee paid between banks for the acceptance of card based transactions ... Usually it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank") however there are instances where the ... In a credit card or debit card transaction, the card-issuing bank in a payment transaction deducts the interchange fee from the amount it pays the acquiring bank that handles a credit or debit card transaction for ...
Payment Gateway - Process
... or IVR service) and the Front End Processor or acquiring bank ... information to the payment processor used by the merchant's acquiring bank ... If an American Express or Discover Card was used, then the processor acts as the issuing bank and directly provides a response of approved or declined to the payment gateway ...

Famous quotes containing the word bank:

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    Rose Wilder Lane (1886–1968)