• Credit Card Payment

    1- Is Payment Processor and Payment Scheme same?

    2- what is the exact role of ViSA/mastercard other than providing a gateway between acquirer and issuer bank? Even validation is only happening at issuer bank side. 

    3- when acquirer and issuer bank is same how visa and mastercard charge.

    4- why issuer bank provide payment scheme while issuing the credit card/ debit card why can’t bank simply provide credit card without any visa or MasterCard

    Posted By:
    Priyankasri

Answer

  • And 2 - Card Prefixes are defined at scheme level and for every country, geography there is a range blocked at Card Asscoiation body. Hence based on customer KYC the VISA, MASTERCARD, RuPay scheme is provided along with the CARD. Off-US transaction facilitation is done via scheme.

     

    Ans 3- If Acq, Iss is same it is ON-US transaction or In-House transaction. No involvement of schemes at all. 

    And 4- Bank do not directly issue card but SCHEME(Logos) are there to facilitate domestic Of-Us and international transactins.

    Answered By:
    skmtariq

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