Card Networks (Visa, Mastercard, etc.)

Card networks like Visa and Mastercard are organizations that facilitate electronic payments between your bank (the issuer) and merchants’ banks (the acquirers). When you use a credit or debit card, the network processes the transaction securely, verifying details and transferring funds. They set the rules, manage transaction routes, and ensure safety and efficiency in card-based payments worldwide. Essentially, card networks act as the digital highways that enable quick, reliable, and standardized payment exchanges across different banks and merchants globally.