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Bank Card Association

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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.


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Some countries have imposed restrictions on online money transfers, for instance; the ATMs in other countries do not accept cards of widespread bank card associations like those of, say, VISA or MasterCard.
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.
 
 
 
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