Card Scheme

A Card Scheme, also known as a card network, is a central payment network that establishes the rules, infrastructure, and standards for the electronic transfer of funds between issuing banks, acquiring banks, and merchants to facilitate global transactions using branded payment cards like credit, debit, and prepaid cards. These schemes act as the crucial intermediary that connects the four-party model of card payments, ensuring interoperability and security across millions of points of sale worldwide.