Card Network Definition
A Card Network, also known as a card scheme, is the central intermediary that facilitates electronic payment transactions by connecting issuing banks (which iss
A Card Network, also known as a card scheme, is the central intermediary that facilitates electronic payment transactions by connecting issuing banks (which issue cards to consumers) and acquiring banks (which process payments for merchants), setting the rules, security standards, and infrastructure for the global movement of funds. Major card networks like Visa and Mastercard operate vast, proprietary global systems that authorize, clear, and settle trillions of dollars in transactions annually, ensuring the secure and efficient transfer of value between parties.