American Express is like Verizon and Intel company. If you want to understand this more accurately, then let’s have a comparison. We have mentioned some of the examples of a credit card by MasterCard.įrom the examples mentioned above, you can see that both numbers begin with the digit “5” and have a total number of digits “16”.Īmerican Express or Amex for short, is both a credit card issuer and credit card network company. The credit card of the MasterCard network consists of 16 digits.The credit card of the MasterCard network begins with the number “5”.The features of a credit card by MasterCard network are: In the last quarter of 2019, the MasterCard network has over 1.46 billion bank cards in circulation around the world. The rank of MasterCard in terms of popularity is 2nd to Visa network. We have mentioned some of the examples of a VISA credit card:įrom the examples mentioned above, you can see that both numbers begin with the digit “4” and have a total number of digits “16”. The credit card has a total number of digits of “13” or “16”.The credit card of a VISA network starts with the number “4”.If you want to identify that a credit card is of a VISA network, we have mentioned two of the methods through which you can identify the card. The network Visa has over 1.8 billion cards currently circulating around the world, according to Statista in 2019.Įach credit card network has a slightly different card numbers layout. Visa in the world is the most popular credit card network. Here we have listed major credit card networks. As far as credit card networks are talked about, there are only a few of them. There are many cards issuing institutions currently active around the globe.
Types of Credit Cards Networks and Issuers: Whereas credit card networks are those companies that can provide a communication gateway between a card user and the institution who is issuing that card to conduct the transactions.
The issuers who issue the credit card to their users are limited to the usage policies and transaction limits. Each credit card has a slightly different number format.īefore preceding further, let's clear the difference between the credit card networks and issuers. Currently, there are credit cards of different networks in the market. Nowadays, credit cards are of different types. Few of the cards are made up of gemstone-encrusted metal.Ĭredit Card Issuers and Credit Card Networks - Know the difference: But some credit cards are also made in metal (stainless steel, gold, palladium, titanium). Most credit cards are made up of plastic. One is a consumer credit card and another one is a business credit card. From the line of credit issued, the cardholder can borrow the money for the purchase or make a payment to a merchant. The card issuer which is usually a bank or a credit union creates a revolving account and allows a line of credit to the cardholders. This means that a user has to promise that he will be able to pay the amount along with the other agreed charges before a certain deadline. The payment depends on the cardholder’s accrued debt. This enables them to pay a merchant for the services or goods. A credit card is a payment card that is issued to the cardholders (users).
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