Bank Card Association

Bank Card Association

A network or organization owned by banks that processes transactions by bank cards. That is, a bank card association gives a bank the right to issue a card and authorizes debits and credits put on the card. It charges a fee (often assessed per transaction) for performing these services. Visa International and MasterCard International are the major bank card associations in the United States.
References in periodicals archive ?
Globebill will take Belgium as a starting point, gradually setting up a settlement network covering all of Europe, and building a global bank card association that provides cross-border settlement and RMB-local currency dual-currency services, helping to establish Globebill as a major player in the international settlements market.
YSPay is using the Accenture Mobility platform to connect with banks via China Union Pay China s bank card association and with existing YSPay merchants who have point-of-sale machines in place, as well as with additional merchants, such as call centers and mobile top-up service providers.
As a bank card association in the PRC, China UnionPay develops and operates the China UnionPay inter-bank transaction settlement system, sets up a global acceptance network for UnionPay cards, promotes the issuance and usage of UnionPay cards, provides innovative payment service for UnionPay as well as delivers excellent, efficient and secure payment services to UnionPaycards holders.
The procedures are initiated as a safety measure and clients' money is not endangered, Roman Kotlan of the Czech Bank Card Association said.
It is issued by banks holding the logo of one of the bank card association private and foreign banks, many public sector banks have also entered the Debit card segment leading to the increase in acceptance and the total base.
True to his pioneering spirit, Stone co-founded one of the first automated teller machine networks in the Northeast, serving as executive director of the Pocketbank ATM Network and chairman of the New England Bank Card Association.
22, 2015 /PRNewswire/ -- Chinese enterprise IZP and Lithuania's central bank signed a cooperation agreement on setting up bank card association on June 22, allowing IZP's global online payment arm Globebill to carry out card association business in Lithuania.
They are free to resume after they convince the central bank that they have implemented changes in their style of functioning, which according to the central bank, currently threatens capital safety and harms the interests of banks and the bank card association.
China Mobile and China UnionPay, the bank card association has rolled out their NFC payments service in over 14 cities, including Shanghai, Beijing and Guangzhou in the country.
China Mobile and bank card association China UnionPay s NFC mobile payments service has been pilot tested on public transportation services in Beijing.
Market strategies launched by leading banks, with an analysis of legal, marketing (branding), security, and Bank Card Association issues
Global Hospitality LAN offers complete electronic authorization of all major credit cards, private label cards and check services and meets all bank card association requirements.