Who does what.
WHAT AN ISSUER IS
The institution providing the card to the cardholder.
WHAT AN ACQUIRER IS
The institution holding the merchant's account and receiving funds.
WHAT A SCHEME IS
The network setting rules and routing transactions between them.
WHAT A PROCESSOR DOES
Handles the technical processing on behalf of issuers or acquirers.
WHAT A PAYMENT GATEWAY DOES
Connects a merchant's system to the acquiring infrastructure.
WHAT A SWITCH DOES
Routes transactions between participants, particularly domestically.
WHAT THE FOUR-PARTY MODEL IS
Cardholder, issuer, acquirer and merchant, with a scheme connecting the institutions.
WHAT THE THREE-PARTY MODEL IS
The scheme acting as both issuer and acquirer.
WHAT THE LOCAL PICTURE INCLUDES
International schemes A domestic scheme with wide local acceptance Domestic switching infrastructure
WHY THE DOMESTIC SCHEME MATTERS
Lower cost and wide local issuance, but limited or no international acceptance.
WHAT THAT MEANS FOR MERCHANTS
Accepting only international schemes excludes many local cardholders.
WHAT TO ESTABLISH
Which schemes your provider supports, and at what cost.
