You know them: Visa, Mastercard, American Express and Discover.
Four major credit card networks dominate global markets. A credit card is a powerful tool issued by a financial institution such as a bank or credit union allowing you to borrow funds.įinancial institutions use a third-party company called a credit card network to facilitate communication between the terminal of payment and the issuing bank. Yes, even the shape and the substance of the card itself. The Four Major Credit Card Networks: A Brief HistoryĪ credit card is more than a rectangular slip of plastic and metal.
