{"id":17493,"date":"2023-05-03T19:39:22","date_gmt":"2023-05-04T03:39:22","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=17493"},"modified":"2023-05-03T19:41:54","modified_gmt":"2023-05-04T03:41:54","slug":"what-are-credit-card-networks","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/","title":{"rendered":"What are Credit Card Networks?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17493\" class=\"elementor elementor-17493\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2aa16e1 e-flex e-con-boxed e-con e-parent\" data-id=\"2aa16e1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1886681 elementor-widget elementor-widget-text-editor\" data-id=\"1886681\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Credit card networks, like Visa and MasterCard, play an essential role in enabling millions of people to make digital payments across the world. Credit card networks are complex systems that facilitate transactions between merchants, credit card issuers, and cardholders. In this article, we will explore the workings of credit card networks, their history, and the major players in the industry. You can also read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-the-payments-industry\/\">overview of the payments industry<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03549e7 elementor-widget elementor-widget-heading\" data-id=\"03549e7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">What are Credit Card Networks?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6881a05 elementor-widget elementor-widget-text-editor\" data-id=\"6881a05\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-959 alignright\" src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/square-card-logos-whitebg-300x252.png\" alt=\"Credit card logos\" width=\"300\" height=\"252\" srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/square-card-logos-whitebg-300x252.png 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/square-card-logos-whitebg.png 598w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Credit card networks refer to the financial systems that enable consumers to make purchases using their credit cards. They act as intermediaries between merchants, <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-issuing-bank-in-payments\/\">credit card issuing banks<\/a>, and cardholders. Credit card networks provide the infrastructure and technology necessary to process credit card payments. They play a critical role in enabling the widespread adoption of credit cards as a convenient and secure form of payment.<\/p><p>The major credit card networks include Visa, Mastercard, American Express, and Discover. These networks process billions of transactions every year, generating billions of dollars in revenue. They also offer additional services, such as fraud protection and dispute resolution, to consumers and merchants.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c05fc2 elementor-widget elementor-widget-heading\" data-id=\"1c05fc2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Market share of credit card networks<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6f2a4e elementor-widget elementor-widget-text-editor\" data-id=\"e6f2a4e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\"><a href=\"https:\/\/www.visa.com\" target=\"_blank\" rel=\"noopener\">Visa<\/a> and <a href=\"https:\/\/www.mastercard.com\" target=\"_blank\" rel=\"noopener\">Mastercard<\/a> continue to dominate the market. As of September 2022, Visa and Mastercard together account for nearly 80% of the credit card network market share in the United States. While their market share percentages have shifted slightly over time, they have remained the top two players in the industry. Visa has approximately 53% of the market while MasterCard has 26% market share.<\/span><\/p><p>In recent years, <a href=\"https:\/\/www.americanexpress.com\/\" target=\"_blank\" rel=\"noopener\">American Express<\/a> has been steadily increasing its market share in the United States. As of September 2022, it holds about 19% of the market share, up from around 15% in 2016. This growth has been driven by several factors, including strategic partnerships with merchants and an expanded portfolio of credit card products.<\/p><p><a href=\"https:\/\/www.discover.com\/\" target=\"_blank\" rel=\"noopener\">Discover<\/a> has held a relatively small share of the credit card network market in the United States for many years, and as of September 2022, it holds about 3% of the market share. While the company has made efforts to expand its reach through partnerships with other companies, its market share has remained fairly consistent.<\/p><p>There are numerous other credit cards, but they hold a very small percentage of the market. Additionally, there are some differences regionally such as <a href=\"https:\/\/www.unionpayintl.com\/\" target=\"_blank\" rel=\"noopener\">China Union Pay<\/a> which has a 90% market share in China.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6a04b1 elementor-widget elementor-widget-heading\" data-id=\"c6a04b1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How do Credit Card Networks Work?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-821bfc4 elementor-widget elementor-widget-text-editor\" data-id=\"821bfc4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>When a consumer uses a credit card to make a purchase, the transaction goes through a series of steps, each of which involves a different player in the credit card network. The following are the steps involved in a typical credit card transaction:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-283fe32 elementor-widget elementor-widget-image\" data-id=\"283fe32\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"220\" data-src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1024x281.png\" class=\"attachment-large size-large wp-image-10760 lazyload\" alt=\"Online Payment Flow\" data-srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1024x281.png 1024w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-300x82.png 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-768x210.png 768w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1536x421.png 1536w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-2048x561.png 2048w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/220;\" \/><noscript><img decoding=\"async\" width=\"800\" height=\"220\" src=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1024x281.png\" class=\"attachment-large size-large wp-image-10760\" alt=\"Online Payment Flow\" srcset=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1024x281.png 1024w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-300x82.png 300w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-768x210.png 768w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-1536x421.png 1536w, https:\/\/trc-parus.ru\/wp-content\/uploads\/2022\/11\/online-payment-flow-2048x561.png 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8461656 elementor-widget elementor-widget-text-editor\" data-id=\"8461656\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Step 1:\u00a0The Credit Card Holder (Consumer) Makes a Purchase\u00a0<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The transaction begins when the consumer uses their credit card to make a purchase. The consumer swipes their card, inserts it into a chip reader, or enters the card details online or over the phone.<\/span><\/p><p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; text-align: var(--text-align);\"><b>Step 2:\u00a0The Merchant Sends the Transaction Details to their Acquiring Bank\u00a0<br \/><\/b><\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The merchant sends the transaction details to their acquiring bank. The acquiring bank is the bank that the merchant has a relationship with, and it is responsible for processing the transaction on behalf of the merchant.<\/span><\/p><p><b>Step 3:\u00a0The Acquiring Bank Sends the Transaction to the Credit Card Network<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The acquiring bank sends the transaction details to the credit card network. The credit card network processes the transaction details and routes the payment authorization request to the issuing bank.<\/span><\/p><p><b>Step 4:\u00a0The Issuing Bank Approves or Declines the Transaction<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The issuing bank, which is the bank that issued the credit card to the consumer, receives the payment authorization request from the credit card network. The issuing bank checks the available credit balance, account status, and other factors before approving or declining the transaction. If the transaction is approved, the issuing bank sends an authorization code to the credit card network.<\/span><\/p><p><b>Step 5:\u00a0The Credit Card Network Sends the Authorization to the Acquiring Bank<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The credit card network sends the authorization code to the acquiring bank, which then sends it to the merchant&#8217;s point-of-sale terminal or payment gateway.<\/span><\/p><p><b>Step 6:\u00a0The Merchant Completes the Transaction\u00a0<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The merchant completes the transaction by submitting the authorization code and the transaction details to their acquiring bank. The acquiring bank then settles the transaction by depositing the funds into the merchant&#8217;s account.<\/span><\/p><p><b>Step 7:\u00a0The Issuing Bank Sends the Bill to the Consumer<br \/><\/b><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The issuing bank sends the credit card bill to the consumer, which includes the amount of the transaction, any interest charges, and fees.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a05b6a3 elementor-widget elementor-widget-heading\" data-id=\"a05b6a3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Credit Card Network Revenue and Fees<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c9e070d elementor-widget elementor-widget-text-editor\" data-id=\"c9e070d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Credit card networks generate revenue by charging fees to merchants and <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-an-issuing-bank-in-payments\/\">credit card issuers<\/a>. These fees include interchange fees, assessment fees, and other charges. Interchange fees are charged to the acquiring bank by the credit card network every time a transaction is processed. Assessment fees are charged by the credit card network based on a percentage of the transaction amount. You can read our <a href=\"https:\/\/trc-parus.ru\/blog\/what-are-interchange-fees-and-how-they-work\/\">overview of interchange fees and how they work<\/a>.<\/p><p>The fees charged by credit card networks can vary depending on the type of card, the merchant&#8217;s industry, and other factors. For example, transactions involving premium credit cards may attract higher interchange fees than those involving standard credit cards. Merchants in industries that are deemed to be <a href=\"https:\/\/trc-parus.ru\/blog\/what-is-underwriting-and-merchant-account-risk\/\">high-risk<\/a> may also face higher. In the end, the merchants pay the payment processing fees which are generally in the 2.3% range. Read more about the <a href=\"https:\/\/trc-parus.ru\/blog\/average-interchange-fee\/\">average interchange rate that merchants pay<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Credit card networks, like Visa and MasterCard, play an essential role in enabling millions of people to make digital payments across the world. Credit card networks are complex systems that facilitate transactions between merchants, credit card issuers, and cardholders. In this article, we will explore the workings of credit card networks, their history, and the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":18042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are Credit Card Networks? - Payment Processing<\/title>\n<meta name=\"description\" content=\"This is an overview of credit card networks, like Visa and MasterCard, including market share, how they work, and the revenue and fees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are Credit Card Networks? - Payment Processing\" \/>\n<meta property=\"og:description\" content=\"This is an overview of credit card networks, like Visa and MasterCard, including market share, how they work, and the revenue and fees.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\" \/>\n<meta property=\"og:site_name\" content=\"Credit Card Processing and Merchant Account\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/clearlypayments\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T03:39:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-04T03:41:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2023\/05\/credit-card-networks.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1282\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kalle Radage\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kalleradage\" \/>\n<meta name=\"twitter:site\" content=\"@clearlypayments\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kalle Radage\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\"},\"author\":{\"name\":\"Kalle Radage\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0\"},\"headline\":\"What are Credit Card Networks?\",\"datePublished\":\"2023-05-04T03:39:22+00:00\",\"dateModified\":\"2023-05-04T03:41:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\"},\"wordCount\":920,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/trc-parus.ru\/#organization\"},\"image\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2023\/05\/credit-card-networks.jpg\",\"articleSection\":[\"How Payments Work\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\",\"url\":\"https:\/\/trc-parus.ru\/blog\/what-are-credit-card-networks\/\",\"name\":\"What are Credit Card Networks? 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