Offering the ability to clients to tap into a sophisticated technology infrastructure and payment network. This means clients can rapidly launch and scale innovative financial services without the complexity, time and cost previously required to do so.
As a card issuer we act as a provider or an agent directly to the end user, such as a consumer or small business owner. This includes reviewing applications, mailing and activation of cards, issuing statements, and processing payments.
By approving or declining applications, and setting the cardholder’s terms and conditions, the card issuer is the company that accepts the risk of default (if a credit card, and not a prepaid or debit card). It also sets the credit card’s interest rates and fees and stands to profit from its relationship with consumers.
Card issuers also receive merchant fees, which are a percentage of the sale price that stores are charged when they accept credit cards for payment.